LIMIT ORDERS EA

I am looking for a simple EA that places limit sell orders above the current price and limit buy orders below the current price. Basically it is a variation of the grid system.

1.6120 - sell limit

1.6110 - sell limit

1.6100 - current price

1.6090 - buy limit

1.6080 - buy limit

etc.

In inputs: Take Profit = 10, Distance between the orders = 10. After TP is triggered a new limit order is placed instead of an old one at the same price. That's all. Perhaps somebody has it already or knows where to download it from. Tired to do it manually :) Thanks.

You are asking for failure....

what you are looking for it a sort of hedged grid EA...

Let me explain by showing you your original example...

1.6120 - sell limit

1.6110 - sell limit

1.6100 - current price

1.6090 - buy limit

1.6080 - buy limit

this would work great....if price always came back to 1.6100, unfortunately how many pairs do you know that revolve around a certain price? I can't think of any. Now let's be realistic as to what is going to happen to your account.

you start with the above.

lets say you get to this point.
1.6220 - sell limit

1.6210 - sell limit

1.6200 - current price

1.6190 - buy limit

1.6180 - buy limit

Yes you are going to be making more money, but the wider that the price moves away from 1.6100 your starting point the more trades that you are going to have open....if it reaches 1.6500...yes you are making sell trades all the way down, but you are also setting buy orders on the way back down....then say it goes to 1.5700.....you make money on the sell orders on the way down...you make money on the way back up...but guess what...now you have an 800 pip range of open orders, have of which are sell and have are buy......not good my friend......

i suggest you thoroughly think through your EA idea