Creation of Pending Trades
The EA will be placed on a chart upon which a series of horizontal lines have been drawn.
When price is above an x-period moving average (type to be set by the trader), the EA will maintain pending BUY orders at y horizontal lines closest to the current price and above the moving average. The trader will be able to add a pip gap (z) to the line level (e.g. z=0 = line +0 = set the pending buy trade at line price level. z=2 = Line + 2 = set the pending buy trade at line price level + 2 pips). Any pending SELL trades should be cancelled if price moves above the MA.
When price is below an x-period moving average, the EA will maintain pending SELL orders at y horizontal lines closest to the current price and below the moving average. The trader will be able to add a pip gap (z) to the line level (e.g. z=0 = line +0 = set the pending sell trade at line price level. z = 2 = Line -2 = set the pending sell trade at line price level - 2 pips). Any pending BUY trades should be cancelled if price moves below the MA.
Trade Management
The EA is not required to add SL/TP targets etc.
EA Timing
The EA should include trade time parameters, such that the trader can set the EA to function or not to function (for example, to be active between 09:00 and 13:00 broker time). This should include the option to cancel pending orders or not (in other words, the EA may cease creating new trades, but leave pending orders open, or cease creating new trades AND cancel all pending orders.
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