Reversal code for mt-3

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Good day all, i am new here and need some help om a code shure could use some help.....

I am looking for a seperate advisor code i am goint to have two 5 min charts one for my first advisoor which i have done The second xhart is for the advisor I need this code for what I need it to do is on open trade on first chart if the pair goes in the oposite direction by let's say 15 pips it will do a reversal on that order and close the order after it hits that 15 pips then the first chart will open a new order when appropiate.


Another way might be to add a code to the first advisor to do the same but stay in the reversal longer if it breaks the 15 pip move.....

Thanks Much
Mike

Once this advisor is up and working good I will post it here for everyone to use and have.....
 
I certainly would add code to the first advisor...

However, I am not sure I fully understand what u want to do!
 
Thank you for replyng here is what I want mu advisor to do after it opens a trade on the pair if the trade it opens heads the oposite direction then I want it to do a reversal and head the right direction to make up the loss and then eather fallow the trend with a T/S or close at break even......looking at my charts and Stops if some of these trades would have just made a reversal and headid the other way my losses would be minnimum.....

I can send you my file if you want to have a look at it..

My emails is fxmcq@yahoo.com
Thanks a bunch

Mike
 
Hello BigBear,

because your description is not very clear I would see if I understand what you want to do:

1. Your advisor should open a position.

2. If it wents the way you expect then every thing is okay and you will cover your profit with a trailing stop.

3. If it wents not the right way, the advisor should close the position after 15 pips and opens a position in the direction the price is moving.

If the prices are going in the wrong direction, see number 3.

If the price wents in the right direction see Number 2.

I dont understand, why this should need two charts. I would build it in one advisor.

greetings cori
 
Hello BigBear,

because your description is not very clear I would see if I understand what you want to do:

1. Your advisor should open a position.

2. If it wents the way you expect then every thing is okay and you will cover your profit with a trailing stop.

3. If it wents not the right way, the advisor should close the position after 15 pips and opens a position in the direction the price is moving.

If the prices are going in the wrong direction, see number 3.

If the price wents in the right direction see Number 2.

I dont understand, why this should need two charts. I would build it in one advisor.

greetings cori



Yes that's is exactly what I am trying to do

Thank You
 
So I think you can do it the following way:

open your sell or buy position using a stoploss. at the position of the stoploss set an stop-order ( buystop or sell stop ).

for example: open a buy pos. at 1.2215 with stoploss at 1.2200. at 1.2200you place also a sellstop order with a stoploss at 1.2215. if the open order moves in right direction, you can move the stoploss as trailing stop and of course the sellstop order.

all you have to do is to look, if the stops need to be moved and if you need to create a new stop order.

cori
 
Thank You
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