All orders
Rules
Job finished
Specification
Looking to get quotes for an EA. Idea based on breakout strategy, but with the added security of being able to choose just how much of a breakout triggers an order.
My idea is that on the opening of each new bar (whichever time frame) the EA places an order above and below the opening price. This pip amount should be chosen in the inputs.
Example:
Say for example I select 100 as my amount, on the timeframe M15.
On the opening of a new 15 minute bar the EA places an order to buy 100 pips above opening price, and a sell order 100 pips below opening price. These orders stay there until the start of the next bar when they are deleted, and new orders are placed following the same rules 100 pips above and below new bar opening price.
The idea is to take advantage of sudden large movements in either direction, but to set the amount quite high to only capture large breakouts. Hopefully this will eliminate losing trades when a false breakout occurs and your breakout order is opened only for the price to fall back and resume zig zagging.
EA must:
- let you choose the distance from bar opening price to place each order
- be able to work on any timeframe
- pending orders must be deleted and reset at the start of each new bar, regardless of whether the chart is M15, H1, or Daily
- pre determined SL and TP for each order editable in inputs section
- no more than 1 open trade at a time
- fixed lot size true or false
- lot size
- money management system where you can choose a risk amount that determines the size of each order based on account balance
- ability to set an amount of pips at which profit should reach before SL moves to breakeven
- ability to choose breakeven pips amount
- ability to set the amount of pips at which trailing starts
- ability to set the amount of pips at which profit should increase before trailing moves to the next step
- ability to set the amount of pips at which profit should decrease before trailing stops
- time system so EA opens 1 hour after market opens sunday night and closes 1 hour before market close Friday evening
- GMT offset so the above can work in different parts of the world (if needed)
- maximum spread allowed - orders deleted when spread goes above max amount
General
I welcome your input, any ideas, comments. Just looking to get a quote as I have no idea how long the above will take. It seems fairly simple to me but I welcome your comment.