Grid RSI ea
RSI to be used to generate buy/sell signals
e.g. If rsi moves from a to b, that is a Buy signal or
If rsi moves from c to d, that is a Sell signal (a,b,c,d are parameters)
Once a BUY signal is generated, the ea should create a grid of orders with x orders above the market.(x a parameter)
If the signal is Buy and the orders have been generated above the market, and market moves lower, the ea should fill the new space created with orders, up to n orders (n a parameter)
Once a SELL signal is generated, the ea should create a grid of orders with y orders below the market.
If the signal is Sell and the orders have been generated below the market, and market moves up, the ea should fill the new space created with orders, up to m orders (m a parameter)
If a buy signal has been generated and orders created and some of those orders booked into trades, and a new buy signal occurs, without reaching a sell signal, the ea should close
only existing orders and leave existing trades alone, and then generate new orders.
If a sell signal has been generated and orders created and some of those orders booked into trades, and a new Sell signal occurs, without reaching a Buy signal, the ea should close
only existing orders and leave existing trades alone, and then generate new orders.
RSI to be used to close trades and orders
Parameters for closebuy - rsi moving from e to f (e and f are parameters)
Parameters for closeSell - rsi moving from g to h (g and h are parameters)
The ea should also have following parameters/capabilities
trade size, grid size, stop, take profit, trailing stop, trailing take profit, notradezone (the closest order to the market should be h pips away from the market price), rsi timeframe, reverse,
trade on start, start and end times for trading during parts of the day,
Need to be able to specify a fixed stop and take profit for all the orders generated together at once including those that are filled above or below the market as it moves
Option for grid amount to grow from grid level to another using a delta amount. e.g. starting order size could be 0.1 lot and the delta could be 0.01, so the ea will generate orders
of sizes 0.1, 0.11,0.12,0.13 etc on the various grid levels outwards starting from the order closest to the market
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