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The EA will open a Buy Stop Order once the following conditions are met on the 4 hour timeframe.
(1) The last bar has a lower high from the previous bar.
(2) The last bar has a lower low from the previous bar.
(3) When the last bar closed it must have interacted with the 20 EMA.
(4) The 8 EMA must be above the 20 EMA on the 4 hour chart.
On this condition open a Buy Stop Order which is 1 pip above the last bar with a stop loss of 1 pip below the last bar and a 1:1 take profit.
The EA will open a Sell Stop Order once the following conditions are met on the 4 hour timeframe.
(1) The last bar has a higher high from the previous bar.
(2) The last bar has a higher low from the previous bar.
(3) When the last bar closed it must have interacted with the 20 EMA.
(4) The 8 EMA must be below the 20 EMA.
On this condition open a Sell Stop Order which is 1 pip below the last bar with a stop loss of 1 pip above the last bar and a 1:1 take profit.
1 pip = 10 points
The lot size calculated for this position is
% of equity divided by the pips then divided by 10.
1000 usd equity
10% of equity to be used
100 usd divided by 20 pips
Then divide by 10
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