Previous candle High-Low EA | Forex Factory

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Previous candle High-Low EA

  • #1
  • First Post: Jun 25, 2015 10:54am Jun 25, 2015 10:54am
Hi Guys,

I was searching for the EA that may automatic my trading method but unfortunately could not find the one exact that matches my rules. There are some EAs that are close but not too close enough.
I am not coder so I am not able to adapt them. Can somebody help with creating EA trading according below rules ?
1. Any time frame ( M1, M5, M15, D1, W1 )
2. Open trade when price crosses high ( buy ) or low ( sell ) of previous candle by set amount of pips.
3. Open trade on every cross of high-low but only one direction trade per each current candle. For example if prices crosses high of previous candle open buy but if it retreats and crosses low of previous candle open sell. If price bounces up again no need to open another buy as we already have one. The same rule for opposite direction. I hope it is clear.
4. During the trend up for example open one trade on every candle if it crosses high of previous but only one trade per candle.
5. SL = low of previous candle for buy orders and high of previous candle for sell orders.
6. TP = set % of previous candle size. For example 30%, 66 %, 100%, 150%, 200 %... etc…. has to be adjusted manually in EA settings. For example if range of previous candle was 100 pips and TP is 50 % it shall be TP=50 pips. I hope it is clear.
7. Lot size to be adjusted in EA settings.
8. Stop trading and close all positions when reached set profit for the day in pips or in money.

There are many similar EAs available but they have usually SL and TP set in pips or in money. That is not exactly what I need.
Thank you in advance for your help.
Cheers !!!
  • #2
  • Jun 25, 2015 11:47am Jun 25, 2015 11:47am
I had a similar idea. I built this EA using fxdreema. Here you go! The EA places 2 pending orders, a buy stop above the previous candle and a sell stop below, both with a pip offset you can adjust. I also put in some other stuff - when one order is filled the other order is deleted, after a set number of pips in profit the stop loss is moved to break-even, at the beginning of a new candle all previous pending orders are deleted.

Of course you should try this on demo first, adjust parameters to what works for you. I have TP set to 100 pips, you may want something different.
You should give fxdreema a try, you can build up to 10 EA's/scripts for free No need to know mql4, they have the coding already done, you just plug-in what you want.
Attached File(s)
File Type: mq4 once per bar expert.mq4   139 KB | 6,329 downloads
  • #3
  • Jun 25, 2015 11:55am Jun 25, 2015 11:55am
My EA doesn't satisfy condition (8) you want - but you could adjust it. Assign a "group number" and enter which currency pairs you want in the group. The EA should then open pending orders in all those pairs. You should then be able to set total profit. I haven't tried that, so you may need to tinker around a bit with the EA. Good luck!

I'm still demo-ing it - trying different opening times ( NY,London,Tokyo), different currency pairs. But so far it looks pretty promising....
Best Wishes!
  • #4
  • Jun 25, 2015 12:37pm Jun 25, 2015 12:37pm
Quoting gravitist
My EA doesn't satisfy condition (8) you want - but you could adjust it. Assign a "group number" and enter which currency pairs you want in the group. The EA should then open pending orders in all those pairs. You should then be able to set total profit. I haven't tried that, so you may need to tinker around a bit with the EA. Good luck! I'm still demo-ing it - trying different opening times ( NY,London,Tokyo), different currency pairs. But so far it looks pretty promising.... Best Wishes!
Hello gravitist, look at link below may fulfil the condition (8) only

http://www.forexfactory.com/showthre...74#post8071274
http://www.forexfactory.com/showthre...23#post8066023
http://www.forexfactory.com/showthre...18#post7928718

Regards
Moti
  • #5
  • Jun 26, 2015 2:33am Jun 26, 2015 2:33am
Moti,

Thanks for the links! No EA is the holy grail, but with good MM I think this one has a good shot. By placing stops above/below the last bar, we'll be in any big move.
I guess it's basically a breakout system if I had to classify it.
  • #6
  • Jun 26, 2015 6:38am Jun 26, 2015 6:38am
Quoting gravitist
I had a similar idea. I built this EA using fxdreema. Here you go! The EA places 2 pending orders, a buy stop above the previous candle and a sell stop below, both with a pip offset you can adjust. I also put in some other stuff - when one order is filled the other order is deleted, after a set number of pips in profit the stop loss is moved to break-even, at the beginning of a new candle all previous pending orders are deleted. Of course you should try this on demo first, adjust parameters to what works for you. I have TP set to 100 pips, you may...
Thank you Gravitist for your reply and info. I will try this fxdreema and place here effect of my work.
All the best !
  • #7
  • Jun 29, 2015 4:06pm Jun 29, 2015 4:06pm
Did you get your EA to work? I had the same thing in mind also.
  • #8
  • Jun 29, 2015 4:11pm Jun 29, 2015 4:11pm
One of the better EA's. Has a lot of options and also previours bar options.

http://www.forexfactory.com/showthread.php?t=89371
  • #9
  • Jul 10, 2015 8:06am Jul 10, 2015 8:06am
Quoting ForexPlex
Did you get your EA to work? I had the same thing in mind also.
Hi Forex Plex,

Unfortunatelly it looks that I am not smart enough to use the platform to create EA. I hope that there will be somenone who can code it as per my rules.
Rgds,
  • #10
  • Dec 17, 2016 9:04am Dec 17, 2016 9:04am
Once per bar ea is an idea i have thought about as well but... no idea why the stops has to be so tight, should be beyond the recent high/low.
The code was way too complex for me, couldnt even figure out where the actual orders are placed, lol
some fixes i wanted to try was:
fix the sl some 20pips or so beyond the daily high/low depending if you buy or sell
completely remove sl, if the trend is up for example more buystops should be triggered than sellstops anyway
  • #11
  • Edited 12:04pm Jan 15, 2017 11:41am | Edited 12:04pm
Quoting gravitist
I had a similar idea. I built this EA using fxdreema. Here you go! The EA places 2 pending orders, a buy stop above the previous candle and a sell stop below, both with a pip offset you can adjust. I also put in some other stuff - when one order is filled the other order is deleted, after a set number of pips in profit the stop loss is moved to break-even, at the beginning of a new candle all previous pending orders are deleted. Of course you should try this on demo first, adjust parameters to what works for you. I have TP set to 100 pips, you may...


This is very similar to something I'm looking for but I'm not getting this EA to work. Please, please.
It's not working.
  • #12
  • Apr 29, 2020 1:47am Apr 29, 2020 1:47am
Quoting gravitist
I had a similar idea. I built this EA using fxdreema. Here you go! The EA places 2 pending orders, a buy stop above the previous candle and a sell stop below, both with a pip offset you can adjust. I also put in some other stuff - when one order is filled the other order is deleted, after a set number of pips in profit the stop loss is moved to break-even, at the beginning of a new candle all previous pending orders are deleted. Of course you should try this on demo first, adjust parameters to what works for you. I have TP set to 100 pips, you may...

does this work on h1?
  • #13
  • May 4, 2020 8:37am May 4, 2020 8:37am
I'm looking for something similar. An EA to place 2 pending orders (buy stop at high previous candle, sell stop at low previous candle). I don't want any of them to close even if one of them activates. Stop lose is fixed in the middle of the previous candles, tp = range previous candle. For example: if range is 20pips-> sl = 10pips, tp 20pips.
  • #14
  • Jun 6, 2020 2:01pm Jun 6, 2020 2:01pm
Quoting gravitist
I had a similar idea. I built this EA using fxdreema. Here you go! The EA places 2 pending orders, a buy stop above the previous candle and a sell stop below, both with a pip offset you can adjust. I also put in some other stuff - when one order is filled the other order is deleted, after a set number of pips in profit the stop loss is moved to break-even, at the beginning of a new candle all previous pending orders are deleted. Of course you should try this on demo first, adjust parameters to what works for you. I have TP set to 100 pips, you may...
EA doesn’t work for me? MT4 build 1260
  • #15
  • Apr 6, 2021 2:43am Apr 6, 2021 2:43am
gravitist can you please assist, the once per bar expert EA is not working when I compile it.
  • #16
  • Aug 25, 2021 10:52am Aug 25, 2021 10:52am
Thank you for the framework. I hope you traded and made it. An you are where you wan to be in life.
  • #17
  • Aug 25, 2021 10:53am Aug 25, 2021 10:53am
Quoting Quentillian
gravitist can you please assist, the once per bar expert EA is not working when I compile it.
There are people in the forum that will recode it for you for free please seek them out..
  • #18
  • Last Post: Sep 13, 2023 10:10am Sep 13, 2023 10:10am
nice
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