I have seen an EA some time ago, but I can't find it anymore (forgot the name). It trades like this: When price moves strongly up (or down) and forms a big candle, the ea places 1 or more pending sell orders with stop loss of 3 pips. These pending sell orders with there stop loss shift up with price if price continues to go up. At a given time, price will retrace from this big movement and the pending sell order is activated. As price goes down, a trailing stop follows it closely (like 1 pip or so). When the retrace gets exhausted, price hits trailing stop and profit is taken.
I also saw the pending orders got deleted if not activated within a certain timeframe.
Of course this method only works with low or 0 spread. The EA has probably a spread filter .
Does anyone know what EA this is, or maybe this can be programmed by someone? It is not exactly like a break out strategy I guess.
I also saw the pending orders got deleted if not activated within a certain timeframe.
Of course this method only works with low or 0 spread. The EA has probably a spread filter .
Does anyone know what EA this is, or maybe this can be programmed by someone? It is not exactly like a break out strategy I guess.
I believe so I exist
