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Execution time 16 seconds
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A needs to determine the trend first. It will take 2 lower lows and 2 higher lows to define down trend. Then it will place sell stop order at distance ( sett by trader ) from lowest candle before 2 nd lower high candle. Check picture. It would place a sell stop trade at 1.18710. Trader would sett up stop loss only. EA would use that stop loss as well as the TP. TP amount will be ST times 1.43.. so always 1.43 higher.
Trader would be able to place max loss per trade in $ amount. That information would be used by the EA to accurate calculate lot size for each trade.
Similar example is for the up-trend and placing a buy stop order.
Those orders would be canceled by the EA if trend goes in opposite direction. ( Over last lower high candle.) And will start to look for another trade sett up using the same strategy.
Option 2 if activated by the trader.
EA would also recognize ranging markets as well…2 or more places of rejection on the upper side and 2 lower side. Then it would place buy stop and sell stop at distance set up by the trader from highest candle and lowest candle. When one is activated other one will be canceled.
Safety mode on or of for trader to chose. If on is activated EA will cancel ST and TP at 23:30 p.m. and restore same ST and TP at 1:30 a.m. next trading day.
MT4 and MT5 versions.
ivica.candrlic@yahoo.com
Hot and cold EA
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