How can I have my Ea open a trade every time the prices has reached certain amount of pips say above or below for instance previous day high or low?
So basically would be something like this:
*IF PRICE REACHES TO 10 PIPS OR MORE OF THE PREVIOUS WEEK LOW, THEN DO THESE THINGS:
-OPEN A BUY OR SELL TRADE WITH A PRE-DETERMINED SL, TP, BREAKEVEN AND ANY OTHER CONFIGS PREVIOUSLY DEFINED BY THE TRADER.
Can you guys give some help?
check the example attached made in AlgoWizard
It’s working perfect!
now how can I add risk management strategy on it?
for instance using these conditions:
*if trade #1 = sl then reduce risk by 50%, else (which means was a tp), then next trade keep same risk% as initially set.
and for instance if the trade #1 was a SL do this:
*if trade #2 = tp or trail stop in positive then risk = back to initial %
Im not sure if I explain my self clearly, but in terms of money would be something like this:
TRADE #1 (RISKED $100) RESULT = SL THEN REDUCE RISK BY 50% ON NEXT TRADE.
TRADE #2 (RISKED $50) RESULT = TP OR STOP BY TRAILING IN POSITIVE THEN ON NEXT TRADE START WITH INITIAL RISK OF 100$ PER TRADE.
TRADE #3 (RISKED AGAIN $100) RESULT = SL THEN DO AS ON TRADE #1 OR IF IT TP OR TRAIL STOP IN POSITIVEN THEN KEEP SAME RISK.
Hope this makes sense.
thanks a lot!
- This reply was modified 1 year ago by valenpty.
Can you change this to consider not the current weekly high or low but the previous week’s high or low?
I found that it does what I need after if goes above/below 10 pips of previous weeks high/low but it also sometimes opens another order on the following day but when it does the trading signal conditio on the same week, for instance:
On Monday it went 10 pips below previous week’s high and placed and order, but then on tuesday it did the same.
You must be logged in to reply to this topic.