Time based simple ea

Details of Strategy

1.            Expert Advisor can be applied to all time frames.

2.            Opens trades only on 2 specified timing periods to be set by user.

·         Time Period 1

Start hour and minute  end hour and minute

·         Time Period 2

Start hour and minute and end hour and minute

·         There needs to be an option to enable or disable time periods. Hence, the user can decide to open trades on Time Period 1 only, Time period 2 only or both.

3.            Lot size to be entered by user. Minimum is 0.01 lot. Take profit and stop loss level to be entered by the user. The take profit and stop loss level must be suitable for 4 decimal and 5 decimal brokers.

4.            The logic for opening a trade during the Time Period will depend on the previous candle. 

·         If the previous candle is bearish, a sell trade will be opened (according to lot size, take profit and stop loss entered by user) immediately at the start of the time period. Also add reverse trade option so if its true ea will open buy trade after bearish candle.

·         If the previous candle is bullish, a buy trade will be opened (according to lot size, take profit and stop loss entered by user) immediately at the start of the period. Also add reverse option here too .

5.            During the Time Period specified by the user, if the take profit or stop loss is not reached, the expert will open another similar position to the first one (if first position is buy trade, all subsequent positions will be buy trades) after X minutes. There must be an option for user to enter how many minutes have lapsed before it opens the next position.  The expert advisor will continue to open another position after subsequent X minutes, until the Time Period has lapsed. (Eg if the first trade is opened at 10.00am and X is 5 minutes, second trade will be at 10.05am and third trade will be at 10.10am. If the time time period is 10.00am to 11.00am, it will continue to open trades at 5 minutes interval until 11.00am.) There will be 2 options (for user to select) for the take profit and stop loss for the subsequent positions opened after the first position.

·         Option 1 - Take profit and stop loss as the same level as the first position.

·         Option 2 – Take profit and stop loss to be entered by the user.

Once take profit or stop loss is reached within the Time Period specified by user, the expert advisor will not open any more new positions during that Time Period.

6.            To have the options to stop trading X minutes before and after periods of low, medium or high impact news. To have the options to choose for news which impact USD, GBP, JPY, AUD, EUR, CAD, CHF.

7.            The expert advisor will not manage any open positions. The open positions will close itself by the take profit and stop loss levels of each position.