Hello dear experts,
For already TPed or SLed trades on FX majors/minors, I'm looking to implement an automated process through an EA to newly enter or reenter the market based on the previous TPed or SLed trades.
For example, if USDJPY has TPed at 140.50 from an original Entry Price at 140.00, I'd like the EA to enter at certain pips further to the TPed price, say, +50 pips or at 141.00. Based on the entry price of 141.00, the SL will be 140.50 and TP can be something like 141.5
The idea is to capitalise on the idea of trending or using momentum strategy to achieve more TPs. On the other hand, the EA will renter already SLed trades if the price were to come back to the original entry price, with the same SL and TP as the original trade.
This EA should only work on single trade orders and not multiple-entry orders with TP1, TP2, TP3, etc. There are 3 scenarios/rules that this EA should work, 2 of which are above, the other being the reversal when the trade goes into an opposite direction after a SL or TP. Exact details on how many pips for each scenario can be shared later.
Please let me know if there's any chance this EA can be worked on.
Thanks.
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