Mechanical EA

Works on H4 candles.

Pick the vertical line from the fx tool bar and demarcate the previous day from the present day make sure the line shows the present day's first candlestick at 00:00 Hours.

Pick the horizontal line from the tool bar and divide the first candle of the present day into two. Call this line; line X

Count 40 pips above line X and draw another horizontal line exactly 40 pips above line X and call this line; line X 1.

Count another 40pips above line X 1 and draw your horizontal line X 2 exactly 40 pips above line X 1.

Count 40pips below line X and draw a horizontal line exactly 40 pips below line X, call this line; line X 3.

Count another 40pips below line X 3 and draw a horizontal line exactly 40 pips below line X 3.

Your forex trading chart should look like this;

EXPLANATION

Line X is the starting point, allow price to dance between line X 1 & X 3 until it picks its direction for the day.

Set your buy stop on line X 1's price value, your take fx profit must be at line X 2, stop loss must be at line X4.

Set your sell stop on line X 3's price value, your take profit must be at line X 4, stop loss must be at line X2.

LOGIC GATES

- Price could trigger your buy order and hit your take profit of 40pips.

-  Price could trigger your sell forex order and hit your take profit of 40 pips.

-  Price could trigger both your buy order and your sell order, hit both take profit zones, giving you a profit of 80pips.

-  Price could hit your buy order and not reach your take profit, come back downwards 80 pips to hit your sell fx order and give you a loss of 80pips.

- Price could hit your sell order and not reach your take forex profit, come back upwards 80pips to hit your buy order and give you a loss of 80 pips.

 EA should be able to do the above, as well as:

1. Delete pending orders from the previous day once the new day starts.

2. For open positions that are profitable from the previous day but not closed yet (never hit tp target), close it.

3. For open positions that are not profitable, shift the stop loss at new day's X2 (for sell), or X4 (for buy)

Variables in the EA:

-distance of line (default is 40 pips)

-Trailing stop option, will trail open profitable positions if activated. 

Let me see if i can think of anymore....