EA using Break out strategy

You will make a new Expert Adviser for MT4 Platform.

Strategy of EA will be like this-

EA will have different options which can be enabled or disabled.

It will have features which will be as follows-

Time to Trade for EA – Start time and End time

At start time, EA will open a Trade instantly.

So, Let’s start with the strategy.

There will be option in EA to put the value of 2 different prices.

One price will be more and other will be less.

For example – we put the price of 1.3200 and 1.3180. So there is a difference of 20 pips in these 2 prices.

At the start of EA trade time- the price will be between this mentioned range.

Now this is like a breakout strategy.

If price moves up crossing the above price of 1.3200- the EA will buy the mentioned lot in setting (For example – 1 lot) and for this trade we will set take profit and stop loss.

Stop loss will usually be the lower price limit which will be 1.3180 (so 20 pips in this case)

Now if the trade hits the stop loss and is closed , that means the price came down to 1.3180 level, here the EA will open a sell trade but with the double of the lot of previous trade. So in this case , the EA will open a sell trade of 2 lots at the price level of 1.3180.

Now again there will be take profit and stop loss.

Stop loss will be usually the same 20 pips which is upper price limit (1.3200)

Now we talk about take profit-

If we reach the take profit level ( for example – 20 pips) , the EA will put a jumping stop loss at the take profit level but it will not close the trade  and the trade will keep running and in this way we will secure our take profit.

Now if the trade further goes in the profit side, we  will manage to take more profit by using jumping stop loss.

Another condition-

If this second sell trade also goes in loss and hits the stop loss level at the 1.3200 ad gets closed.

EA will open a third trade which will be buy trade and it will be the double of the previous trade (so it would be a buy trade of 8 lots opened at the level of 1.3200)

It will have stop loss and take profit in same way.

So basically , EA will have option in setting, in which we will write the number of trades which it can take in this way. So If we write 2 in setting, it will take only 2 trades maximum.

So it will take first trade of 1 lot, if it reaches take profit, it will not take another trade.

If it goes in loss and gets closed , EA will take another trade and it will be of double amount and in other direction. If this also closes in loss, EA will not take any more trades.

So, I want to use this EA in morning London session. At the start of 7 am London time and if I get profit in London session, I want to use this EA again at the start of US session at 12 noon time.

I hope u understand the strategy. I might some more options in this as right now , I might have forget something.

So please tell me -how much time and money it will take?

Thanks for your support.