EA for limit Buy & Sell Orders

I have been trading (in demo) a form of straddle system lately but would like an EA so that it could be automated and backtested.

I developed the system based on the Hedgehog System. All that I am doing is trading the trade they call the 3rd trade with buy and limit orders. Here's the system:

I have been trading the EUR/USD and placing LIMIT orders to buy and sell @ the 23.00 GMT (T) price +/- 15 pips (D) with a TP of 5 pips and a SL of 20. Success rates are very high +80%.

eg.

If the EUR/USD is at 1.4100 @ 2200hrs I place a buy limit @ 1.4090 (TP = 5) and a sell limit @ 1.4110 (TP = 5). Orders remain open until the following evening when I check my computer again. SL = 20.

If I do get a bad day and have losses I use the 'Martingale' principle and increase lot numbers the following day to recoup the previous days losses. Since loss days are very few I have been very succesful in regaining my losses.

Would it be possible to programme an EA so that the following parameters could be changed in order that I could backtest for the best combinations?

T = Time of placing trade
D = Distance from price @ T
TP = Take Profit
SL = Stop Loss
Different currency pairs
Magic Number

I hope the system is clear and I hope someone out there can help.

Thanks in advance

Regards


Madog

Maybe post this in the metatrader section

Thanks WHTen, I will try and post it there and see what happens.

Regards

Madog

I am sure you have heard this before, but, that type of system will eventually blow out your account. Sure it might work great for a few months or maybe even a year, but, one bad string of loosers and POOOF - all your money is gone

Interesting strategy, One of the big problems I think you may face is you are going to need a very very high success rate for it to be profitable when you fact in the broker spreads and the very low risk/reward ratio.

Thanks for your comments, I appreciate what both of you are saying, but at the moment I am only forward testing the system on a demo account, which is very slow.

Thats why an EA would be so valuable to see if it worth bothering with the idea in the long run.

If anybody has any suggestions to fine tune the system I would be very grateful.

Regards

thank you for all the suggestions .... this will really help me

I need help .. i want to master all of EA's every move 10 pips 2 order buy open position and strategy sell.saya've done this with a manual .. the result is quite good .. this time I made ​​a robot of this strategy, please me. . before thank you.

That was useful information Madog! I learnt something on forex trade with help of EA's.. Thank you.