Simple EA for London Breakout Strategy: Using highs & lows of candles to place Buy and Sell Stops

Simple EA for London Breakout Strategy:

I have tested this strategy and it has proven to be pretty successful.

For a certain pair compare the highs and lows of the 7, 8, and 9 Candles when they close. Then based on some simple guidelines, when the 10 candle closes we will put in buy and sell stops.  For instance:

When comparing the 7, 8, and 9 candle close, the 8 candle had the highest out of the three (1.30905) and 9 had the lowest (1.30753).

Opening the BUY/SELL Stop:

1) If the high and Low subtracted is less than 31 pips we will put a buy/sell stop. If it exceeds 31 no trades will executed. For the charts high and lows it comes out to 15.2 pips, so we will place orders. This number is also used as our "risk" number.

2) Calculate the high and low of candle 10.

3) For the Buy stop place the entry price 13 pips above the candle 10 high, with a 30 pip take profit (total of 43 pip movement upward from candle high). Set SL to 15.2 pips from candle high and have the order expire at 14:00.

3) For the Sell stop place the entry price 13 pips below the candle 10 low, with a 30 pip take profit (total of 43 pip movement downward from candle low). Set SL to 15.2 pips from candle low and have the order expire at 14.00.

And that's it! Below is example of lines where entry, tp, and SL would be. Let me know if you have any questions.