Trend reversal EA

Hi,

I would like to develop EA based on the following strategy. The parameters in square brackets should be adjustable by the user. Please provide price quotes based on the specifications below. Thanks.

Downtrend- Buy orders

1) Downtrend is in place when the High Point to the Low Point > 30 pips. In downtrend, the High Point is the start of the trend ("A") and it is when the high of the particular candle exceeds the high of 1 candle immediatly before it and 1 candle immediately after it (i.e. the High is 'sticking' up at the top). In downtrend, the Low Point is the end of the trend ("B") when the low of the particular candle is lower than the low of 1 candle immediately before it and 1 candle immediately after it (i.e. the Low is 'sticking' down at the bottom).

2) Retracement Point ("C") is when price bounces off B (end of the trend) and retraces > 10 pips. Trend is invalid if C overshoots A. For illustration of downtrend, please refer to attached JPG file.

3) In a valid downtrend, place 1st BUY (limit) order at B price level. Stop Loss ("SL") = [25] pips ; Take Profit ("TP") = [10] pips. SL and TP should be adjustable.

4) Place 2nd BUY order at the 1st BUY Order SL price level. 2nd BUY order lot size should be [10] times ("Multiplier") 1st BUY order lot size. This Multiplier factor should be adjustable. SL = [25] pips; TP = [10] pips

5) Cancel 2nd BUY order once 1st BUY Order TP is hit.

6) Cancel both 1st and 2nd BUY limit orders if they are not filled within [6] hours of the close of candle B or if C overshoots A and the trend becomes invalid. However, if 1st BUY order is triggered just before the [6] hour expiry time, 2nd BUY order should not be cancelled and kept in place until 1st BUY order TP is hit. At that point, 2nd BUY order should be cancelled.

Uptrend - Sell orders

1) Uptrend is in place when the Low Point to the High Point > 30 pips. In uptrend, the Low Point is the start of the trend ("A") and it is when the low of the particular candle is lower than the low of 1 candle immediatly before it and 1 candle immediately after it (i.e. the Low is 'sticking' out at the bottom). In uptrend, the High Point is the end of the trend ("B") when the high of the particular candle is higher than the high of 1 candle immediately before it and 1 candle immediately after it (i.e. the High is 'sticking' out at the top).

2) Retracement Point ("C") is when price bounces off B (end of the trend) and retraces > 10 pips. Trend is invalid if C overshoots A.

3) In a valid uptrend, place 1st SELL (limit) order at B price level. Stop Loss ("SL") = [25] pips ; Take Profit ("TP") = [10] pips. SL and TP should be adjustable.

4) Place 2nd SELL order at the 1st SELL Order SL price level. 2nd SELL order lot size should be [10] times ("Multiplier") 1st SELL order lot size. This Multiplier factor should be adjustable. SL = [25] pips; TP = [10] pips

5) Cancel 2nd SELL order once 1st SELL Order TP is hit.

6) Cancel both 1st and 2nd SELL limit orders if trades are not filled within [6] hours of the close of candle B or if C overshoots A and the trend becomes invalid. However, if 1st SELL order is triggered just before the [6] hour expiry time, 2nd SELL order should not be cancelled and kept open until 1st SELL order TP is hit. At that point, 2nd SELL order should be cancelled.

Other comments

- New addition: This strategy works on USDJPY M15 chart. However, the EA should allow the option of putting on any chart on any timeframe.

- EA should allow for the possibility that there can be both BUY & SELL pending orders.

- New addition:  When there is a live trade, another valid trade signal may be triggered. For example, in a downtrend, the price may continue to go down, thus forming a new Low ("B"). If there is 10 pip retracement, thus forming "C", there shall be another valid BUY signal at a lower price level B when there is already an ongoing BUY trade. The EA should allow the user to choose whether to allow Multiple trades in the same direction.  

- EA can commence the process of looking for the start of a trend at the point it is activated. It doesn't have to 'look back' to see if it is already in the middle of an up/down trend. Basically, the EA should detect the latest pt A forming (i.e. potential start of a new trend) and wait for trend to develop, which results in formation of pt B (potential end of trend) and then C (potential retracement point) upon 10-pip retracement.

- EA should have feature to cancel all pending orders (except for Level 2 orders since these depend on the outcome of Level 1 order) at a certain time on Friday before the market closes for the weekend.