Hi all,
Could someone please help me with a custom script/EA I am trying to develop. I am not sure if it falls under the term script or EA at present so I will refer to it as a script for now.
I need a script/EA that will allow me to buy and sell trades based on the current chart I am on (which is normally GBPUSD 5min). There are two strategies to the script and the script is manually started but will continue to trade until it triggers a stop loss at which point it will need to be manually started again to start working again. The script should ask which strategy to use before placing the trade. The script has to have global variables that will set the first stop loss level and the second stop loss level as well as the only take profit level for every trade. It will also need the other standard variables like whether it will be a buy or sell trade, what the lot size will be, the pip slippage allowed etc
The first strategy:
The trade is placed with the stop loss level based on the current charts previous candle's lowest point plus a set number of pips (which is stored in the first stop loss global variable). It will then continue to place another immediate trade every time the take profit is trigger until the stop loss is triggered. All subsequent trades after the first intial trade has a set stop loss level based on the second stop loss global variable. The take profit level is always the same as defined by the take profit global variable.
The second strategy:
The trade is initiated manually with the stop loss level again based on the the current chart's previous candle's lowest point plus a set number of pips (which is stored in the first stop loss global variable). If the take profit is trigger the script waits until a new candle is created on the chart and again sets the stop loss level as the current chart's previous candle's lowest point plus a set number of pips which again is the first stop loss global variable. This continues until the stop loss is triggered. The take profit level is always the same as defined by the take profit global variable.
To round up, on both strategies, once the script is manually started, it continues until it hits a stop loss. If it hits the take profit on the first strategy it immediately places another trade. If it hits the take profit on the second strategy it will place a new trade as soon as a new candle is created on the chart and immediately places another trade.
I hope I have explained this well enough. Please let me know if I have missed anything out.
Many thanks for your help in advance.
CeeFar
Could someone please help me with a custom script/EA I am trying to develop. I am not sure if it falls under the term script or EA at present so I will refer to it as a script for now.
I need a script/EA that will allow me to buy and sell trades based on the current chart I am on (which is normally GBPUSD 5min). There are two strategies to the script and the script is manually started but will continue to trade until it triggers a stop loss at which point it will need to be manually started again to start working again. The script should ask which strategy to use before placing the trade. The script has to have global variables that will set the first stop loss level and the second stop loss level as well as the only take profit level for every trade. It will also need the other standard variables like whether it will be a buy or sell trade, what the lot size will be, the pip slippage allowed etc
The first strategy:
The trade is placed with the stop loss level based on the current charts previous candle's lowest point plus a set number of pips (which is stored in the first stop loss global variable). It will then continue to place another immediate trade every time the take profit is trigger until the stop loss is triggered. All subsequent trades after the first intial trade has a set stop loss level based on the second stop loss global variable. The take profit level is always the same as defined by the take profit global variable.
The second strategy:
The trade is initiated manually with the stop loss level again based on the the current chart's previous candle's lowest point plus a set number of pips (which is stored in the first stop loss global variable). If the take profit is trigger the script waits until a new candle is created on the chart and again sets the stop loss level as the current chart's previous candle's lowest point plus a set number of pips which again is the first stop loss global variable. This continues until the stop loss is triggered. The take profit level is always the same as defined by the take profit global variable.
To round up, on both strategies, once the script is manually started, it continues until it hits a stop loss. If it hits the take profit on the first strategy it immediately places another trade. If it hits the take profit on the second strategy it will place a new trade as soon as a new candle is created on the chart and immediately places another trade.
I hope I have explained this well enough. Please let me know if I have missed anything out.
Many thanks for your help in advance.
CeeFar