Combination of pending orders and break out strategy

MQL5 Experts

Specification

EA Specifications:
Symbol: BTCUSD
Timeframe: Any
Time Zone: South Africa Time
Risk: 2% of account balance
Position Size: Adjustable based on stop loss distance
Lot Size: 0.01 (default, can be adjusted)
Stop Loss: 1% distance from entry
Take Profit: 1:10 risk-reward ratio
EA Logic:
  1. Placing Orders: At 9:00 AM SAST, the EA should place two pending orders: a buy stop order 2 points above the high of the 9:00 AM candlestick and a sell stop order 2 points below the low of the 9:00 AM candlestick.
  2. Order Replacement: If the market goes against the initial buy stop or sell stop order and triggers the stop loss, the EA should replace the respective pending order back to its original position (2 points above the high or 2 points below the low of the 9:00 AM candlestick). This process should repeat if the same scenario occurs.
  3. Trade Management: Once the take profit level is reached, the EA should close all open positions and cancel all pending orders. The EA will then wait until the next trading day to repeat the process at the same time.

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Project information

Budget
39+ USD
VAT (19%): 7.41 USD
Total: 46.41 USD
For the developer
35.1 USD
Deadline
from 2 day(s)