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The EA should work on all timeframes
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A LONG trade should be opened if the current candle goes 0.3 pips higher than the HIGH of the previous candle
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A SHORT trade should be opened if the current candle goes 0.3 pips lower than the LOW of the previous candle
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Only one trade should be open on a currency pair
at any time. It is OK for trades to be open across multiple currency pairs at
the same time though
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A stop loss should be set at the time of opening
the trade. The stop loss should be 50% of the difference between the HIGH and
LOW of the previous H1 candle
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Lot size is to be calculated based on a 1% risk
per trade and should therefore consider the size of the stop loss and current
equity of the account
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There should be three options regarding take
profit. It should only be possible to select one at any one time:-
o
As default, trades should be opened without a take
profit target
o
There should be an option to turn on take profit
target where 100% of profit is taken when profit is double the size of the stop
loss
o
There should be an option to take 50% of profit
once profit has achieved a level which is 2 times the stop loss size. If this
option is activated and 50% of profit has been taken, the EA should change the
stop loss to trail by the original number of pips
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