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When the EA is placed on the chart, let it wait for the next signal.
When a buy arrow appears, the EA should open a sell trade.
When a sell arrow appears, the EA should open a buy trade.
The EA should have an option to adjust the indicator variables.
If price goes against the trade, the EA should open additional trades once with each candle that opens until we close all open trades as a “basket” of trades when sum of money of the basket is positive.
Entry Delay Minutes: Entries can be delayed until few minutes after daily open for brokers that temporary stop trading at the session start, default is 15 minutes.
Basket Take Profit Pips: Option to close basket in profit instead of breakeven, default is 0 pips.
Max Drawdown Percent: Close all trades when basket is in drawdown the specified percentage of the account balance, default is 25%.
Max Open Trades: Limit the number of open orders of a basket, default is 999 orders.
Max Spread Pips: Wait with entry or scale-in until spread is below specified limit, default is 4.0 pips.
Trade Direction: Use to configurate whether only Buy or Sell orders are allowed (suppress other orders), default is "Both Buy Sell"
Add Magic number to enable multiple instances of EA on the same currency pair
EA should have take profit
NOTE:
if spread at midnight is too high (more than 4.0 pips) – Don’t open a trade yet. Wait with market order till spread narrows back. It may take even 1-2 hours but usually it will take only a few minutes. So once spread is less than 4.0 pips, open the trade.
TP = 20 to 50 pips, depends on currency’s volatility.
No SL.
If price goes from last entry against the direction of the trade, open at the Open of every new day an additional market order with same lot size as original trade. No TP for additional trade.
Close all trades together when sum of all open profitable and losing trades (“basket“) is positive (may be 0.1$ or 1$).
Instead of SL: If sum of all open trades (“basket”) is losing more than 25% of account balance – close all trades.