Baby Sitter EA

Hi Everyone,

I am wondering if it is possible to have a babysitter type EA.

For example in the event of news, a pair can drop a 100 pips in 5minutes or less.

Is is possible to have an EA that can close down an existing trades and delete open orders (opened by another EA) on this type of event?

Can this be done?

thanks in advance

A

Are you speaking in the event that a drop occurs or, to have it close and delete orders at a specific time? You can probably create something to do it either way, however, it would probably be much easier to it do at a specific time.

Hi ecTrade,

thanks for your answer. I was talking about a big drop in a short time like when a news event makes a currency plummet. Like the NFP on the 7th.

The GBP lost about 150 pips in 5 minutes. I would rather take the loss than hang in there when a currency is dropping that fast.

Great to know that it can be done and I am appreciative that you answered.

cheers

A

you can definitely monitor change of pips versus time and have external variables for pips and time.
if greater than then close all or specific positions.

In one of my EAs I have a "Circuit Breaker" that trips when PA goes against my trade and exceeds the current TF swing high/low by the greater of 2/3 of previous bar or 2/3 of next TF up swing high/low range.

I'm guessing is something like that you want to code? You just need to define the parameters.