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Range Break out EA...
hi everyone, this will be a SEMI auto EA because I will need to change some parameters everyday as market changes its behavior. the main idea of the EA is that it opens a BUY position IF the candle Closes higher than the level marked (resistance). the EA will open a SELL position if the candle Closes lower than the level marked (support). instead of having the risk management or entry value in lot size I want to have it in account % (where I can change the % as I need).
If there is one position running the EA should not open a second position. this means that every trade that the EA makes it should hit TP or SL in order to open the next trade.
example: we have a BUY order that was triggered and it did hit our TP, now price came back to the BO zone ( between support and resistance) we need at least two candles to close inside this area in order for us trigger another BUY order if the price breaks the resistance again. (same with the SELL orders)
If the price brakes from a higher level and it goes thru resistance and support with just one or two candles the SELL order will be trigger normally.
EA will activate a trailing stop after N pips
settings that I will change every day:
1. entry levels (support / resistance)
2. Stop loss and take profit ( when I enter the SL it should automatically calculate the 1% risk of the account....where I can edit the " 1")
- for example, after a few trades hit SL, now I want to risk 2%.
3. trailing stop will be edited very often as well, as market volatility/volume changes.
price is always negotiable.
