Job finished
Execution time 37 minutes
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Simple Automated EA for price action entry, stop loss, and profit. Beginning of Project
4 candle high open, 2 candle low stop loss, 4x risk of stop loss for close profit.
Please see below Requirements Specification:
T1
Automated EA for MT5
Idea of Trading System:
Buy market entries are performed when price reaches a new 4 candle high. Stop loss of a new 2 candle low from entry candle. Take profit at 4x risk of stop loss (1 to 4 risk reward ratio).
Sell market entries are performed when price reaches a new 4 candle low. Stop loss at a new 2 candle high from entry candle. Take profit at 4x risk of stop loss.
Trend:
Is determined by 4 candle high, trend is growing. 4 candle low trend is falling
Trading Signal:
Positions are opened:
Additional filters for opening a position
-
1 position per symbol: if there is already a position in place, no new positions will be taken, until current position is closed by stop loss, or take profit.
Positions are closed:
Additional filters for closing a position
Close by Take Profit:
/// Example: if the stop loss is at a $10 loss, Take Profit Signal at $40 profit
Position management:
- Buy Position:
-Sell Position
- Stop Loss in place when position is entered at 2 candle low
Position Size:
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