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Hello,
looking for developer which can make simple Trading Bot on MT5 for DR/IDR based on my rules.
Intro:
M5 bar close above/below certain session hour range, then place order immediately. Then wait TP/SL
Reference:
the "TheMas7er" DR/IDR concept explain
https://www.youtube.com/watch?v=Uxwr4CVhGhg
3 DR session explain
3 DR session:
ARD: 19:30-20:30 UTC-4
ODR: 3:00-4:00 UTC-4
RDR: 09:30-10:30 UTC-4
https://www.youtube.com/watch?v=q1s2INPzN6M
MT4/5 DR/IDR Indicators
https://www.mql5.com/en/market/product/90770?source=Site+Search
M5 bar close above DR level mean confirm trading direction bias
1. 5M Time frame
2. Pair to be selected by user (Forex)
3. Identify DR (1 hour range from X to Y time)
4. Identify IDR (1 hour range from X to Y time)
Open Trade:
Position open when price close above / below DR M5
This range needs to be define for example after ARD (19:30-20:30 UTC-4) from 20:35 - 2:00
TP to be set by user as part of parameter settings (ex 40 Pips)
SL to be set at opposite side of DR + pips
2 x setups per range (for example long, if long failed and reached SL open sell if all parameters are met
Parameters input:
Time Frame: 5 Minutes
Session to be used ADR / ODR / RDR ( to be selected which one to be used)
Trading range hours
Lot size to be used
TP Target
Example below:
- ADR Range in use (19:30 -20:30 UTC-4) Asian session
- Candle closed through DR high
- Buy order to activate immediately
- TP Target to be set in parameters ex 40 pips
- SL Target to be at the DR Low + 2 pips
- In this scenario it was a win
Example below:
- ADR Range in use (19:30 -20:30 UTC-4) Asian session
- Candle closed through DR high
- Buy order to activate immediately
- TP Target to be set in parameters ex 40 pips
- SL Target to be at the DR Low + 2 pips
- 1st trade was a loss for approx 16 pips
- Very last candle in the selected timeframe closed below DR Low
- Sell order to activate immediately
- TP Target to be set in parameters ex 40 pips
- SL Target to be at the DR Low + 2 pips
- 2nd trade was a win
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