All orders
Rules
Specification
1. The OCO EA sets 2 orders simultaneously. I want to get in at a specific price. I do not know which direction the market will go – Long or Short. If the market goes long and triggers my long entry, the short order is cancelled. And vice versa.
2. Should work with brokers who use both 4 or 5 pip digits.
3. The solid green line in the attached picture is my Buy Stop (goes long if touched).
4. The dotted green line in the attached picture is my Stop Loss for my Buy Stop.
5. The solid red line in the attached picture is my Sell Stop (goes short if touched).
6. The dotted red line in the attached picture is my Stop Loss for my Sell Stop.
7. When I activate the OCO, lines should be automatically drawn on the chart. The Buy Stop is automatically placed 150 pips above the high of the last candle. The sell stop is automatically placed 150 pips below the low of the last candle. The stop loss for the Buy Stop should automatically be placed 100 pips above the high of the last candle (or 50 pips below the Buy Stop). The stop loss for the Sell Stop should automatically be placed 100 pips below the low of the last candle (or 50 pips above the Sell Stop).
8. I should be able to place my cursor on any of the lines and manually move them to the exact location I desire.
9. Trailing Stop: An input needs to be programmed that is set to True or False. When it is True, the trailing stop is activated. False – The trailing stop is not activated. If it is activated, it should trail price by 100 pips. As with the lines mentioned above, the trailing stop line should be automatically drawn on the chart AND I should be able to define in the input section the amount of pips that it should trail.
10. Take Profit: An input needs to be programmed that is set to True or False. When it is True, the Take Profit is activated. False – The Take Profit is not activated. If it is activated, it I should be able to input the number of pips that will trigger the take profit which will close the trade. If activated, the take profit line should be automatically drawn on the chart AND I should be able to place my cursor on the line and manually move it to the exact location I desire.
11. The input parameters that I can adjust should be:
Buy Stop 150
Stop Loss for Buy Stop 100
Sell Stop 150
Stop Loss for Sell Stop 100
Trailing Stop True or False (this should be a dropdown box allowing me to select T or F)
Trailing Stop in pips This field should be blank so I can input the number of pips
Take Profit True or False (this should be a dropdown box allowing me to select T or F)
Take Profit in pips This field should be blank so I can input the number of pips
12. I should be able to change settings in the middle of a trade. For example: If I place the OCO with a fixed stop loss and a couple of days later turn off the stop loss and activate the trailing stop.
13. When I place the OCO EA on the chart, an OCO panel should be placed on the top left of my chart from which I can easily change certain parameters.
Optional Depending on Price to program this OCO EA:
If I am trading EURUSD: I want to be able to set OCOs on different time frames independent of each other. For example: The OCO on daily chart will not affect the OCO on the 15 minute chart when running at the same time for the same symbol. If I close the 15 minute OCO it should not close the daily OCO.