Gentle traders, I swear that before opening this topic, I thought about it a lot, and above all, I browsed the Forex Factory pages to see if what I wanted didn't already exist.
My idea is similar to another thread called London Breakout, but the EA published in that strategy no longer works. I've already searched and found other EAs that work in a similar way, there are many, but they don't work as I would like even if the strategy is simple and very, very old. If you look on YouTube for hedging o recovery strategies you can find a lot.
Keep in mind that this strategy uses the martingale.
My idea is very simple:
TF always H4; hours 04:00-07:59 or 08:00-11:59 are the best.
At 07:59 or 11:59, place a buy stop at the high and sell stop at the low of the H4 candle.
If it takes an order on one side, cancel the other order and open a trade with a lot size twice the first order. If the first order is a buy on a high of 0.01, the second sell order at the low is 0.02 with a stop loss on the high, and so on. 0.01, 0.02, 0.04, etc.
The EA will be inserted into all currency pairs, and the take profit will be a global take profit for all trades. This is because during the day, some pairs trend and will be the ones that generate profits, while other pairs move sideways and will require a few martingale moves to at least offset their losses.
We expect a take profit of about 10 pips for each currency pair. Therefore, if we have 30 pairs, the expected profit is 300 pips minus commissions, but all the trades will be closed with a separate EA called Equity Sentry you can find here on FF.
This strategy has the advantage of tracking all pairs regardless of current volatility, the time of day if you live in an inconvenient time zone, and not being forced to sit in front of the computer all the day.
The volatile pairs will offset the stable ones.
If your computer can't handle the workload of 30 EAs, you can choose pairs that are uncorrelated.
The options in the EA should be:
Start time and end time
Lots
Martingale progression
TP a SL for whom wants to work only with one pair.
Suggestions are welcomed and I thank you in advance for your attention.
My idea is similar to another thread called London Breakout, but the EA published in that strategy no longer works. I've already searched and found other EAs that work in a similar way, there are many, but they don't work as I would like even if the strategy is simple and very, very old. If you look on YouTube for hedging o recovery strategies you can find a lot.
Keep in mind that this strategy uses the martingale.
My idea is very simple:
TF always H4; hours 04:00-07:59 or 08:00-11:59 are the best.
At 07:59 or 11:59, place a buy stop at the high and sell stop at the low of the H4 candle.
If it takes an order on one side, cancel the other order and open a trade with a lot size twice the first order. If the first order is a buy on a high of 0.01, the second sell order at the low is 0.02 with a stop loss on the high, and so on. 0.01, 0.02, 0.04, etc.
The EA will be inserted into all currency pairs, and the take profit will be a global take profit for all trades. This is because during the day, some pairs trend and will be the ones that generate profits, while other pairs move sideways and will require a few martingale moves to at least offset their losses.
We expect a take profit of about 10 pips for each currency pair. Therefore, if we have 30 pairs, the expected profit is 300 pips minus commissions, but all the trades will be closed with a separate EA called Equity Sentry you can find here on FF.
This strategy has the advantage of tracking all pairs regardless of current volatility, the time of day if you live in an inconvenient time zone, and not being forced to sit in front of the computer all the day.
The volatile pairs will offset the stable ones.
If your computer can't handle the workload of 30 EAs, you can choose pairs that are uncorrelated.
The options in the EA should be:
Start time and end time
Lots
Martingale progression
TP a SL for whom wants to work only with one pair.
Suggestions are welcomed and I thank you in advance for your attention.