Weekly buy/sell stop orders EA

Hi Experts,

I am looking for an EA to do the following:

1) Place a buy & sell-stop orders on every chart which is open on your MT4 platform

2) The entry time must be between 10PM-11PM (EST) on Sunday

3) The timeframe on every chart must be weekly

4) Place a buy-stop 50 pips above the high of last weekly candle with 30 pips SL

5) Place a sell-stop 50 pips below the low of the last weekly candle with 30 pips SL

6) On Friday between 5-6pm (EST) close all open orders.


Cheers!

Here you are.

Remember that I cannot test this in strategy tester to check the code.

The bot uses stealth to send the trades, so the various lines on the chart represent the trades' fill, stop loss and take profit (no tp line by default as there is no tp). Trades will 'fill' when the Bid crosses the buy/sell lines and close when it crosses the stop loss lines. Manually adjusting any of these lines forces fc to observe your changes.

The EA is independent of your viewing chart time frame. TimeFrame is the trading time frame expressed in minutes. PendingPipsDistance is the distance from the previous weeks hi-lo to place the trade.

Trading hours are expressed in your own local time i.e. the time shown on your computer clock. It detects the new candle automatically; all you need is to enter something reasonable in TradeSendHour. The default sends the trades at the first opportunity one hour after IBFX open a new weekly candle at 1.00 am, i.e. 2.00 am on Monday mornings here in the UK.

The default OrderCloseDay means Friday; mt4 measures days as Sunday = 0. My trades will close at 4.00 pm here in the UK.

I expect users to sort out these day/time inputs for themselves, and do not expect to read questions about them. A torrent of abuse and instant addition to my 'ignore' list awaits any contributor stupid enough to ignore this last statement.

There are the usual mptm features to help manage open trades. Take care with the candlestick trailing stop; it works on your chart time frame, so viewing a lower tf with this enabled will have unexpected consequences.

Take care when loading up the EA. fc does not wait for the start of a new W1 candle to place its pending trades - I can add this feature later on if need be. As it stands, load up the EA and it will place the pending trade lines on the screen; if the market is already beyond the 'fill' price, then it fc will send the trade. I can always add some code to counter this if need be.

Have fun.

Steve, much appreciate your quick response. Actually the system isn't mine...I read it sometimes ago here in FF...will look for the thread later, and post it's link. Seems to be an interesting system...not sure how profitable is though, but Will give it a try. Thanks a million!

I have my doubts about that 30 pip sl on a weekly breakout system, but we shall see.

The UC trade I was expecting did not trigger. I had forgotten to code for a zero take profit.

Fix in post 2.

Greetings Sir Hopwood,
the entry concept on this bot is appealing in that we have mostly trend followers for (30% occurrence on the market); Bots Like Big Bob10 for trending & ranging (60%); So this break out (though christened as a "weekly") could be applicable for the remaining market conditions of "break out", said to be 10% of the market time.

Could you accommodate/modify the bot for use on other time frames, on all open charts or selected pairs, so that we can have greater feedback and judge if it has legs? Also, putting on the Caterpillar module here, to scale into existing winners may even strengthen the concept.

Bless!

No. You want a multi-pair multi-tf trader and that is a lot of extra coding. Set up a few extra charts instead for testing.
Not until the ea proves to have legs.

Noted, Will see if legs can be found (as is) then


Bless!

Cable so far had a nice weekly breakout...

Just as a means of feed back (Hello All FF Family Esp Sir Hopwood & Hanover, the real Big men as they continue to give more than they seek to received IMHO)

MY application of FC'z W1 B-O thus far...!!
-Using this on All Weekly charts for Pairs
-0.01 lots (hedge & Non Hedge Demo)
-Individual SL50 pips; TP500 pips and above
- Starts Sunday until...
- BE 65 Pips, BEP 15 Via MTPM
- Will next Be adding Basket management Via Trailing OR Jumping Stop, for the next week. Blessed with this insight on Thursday Morning.
Three Months weekly history shoe an average of 1500+ pips per week. Some weeks have net loss Most are positive.

Attached is a copy of an Indicator Basket candles (see screen shot and template as well) that is Quite Nifty. We Need some help in getting it to accommodate up to 30 pairs, now with my limited skills I can only get it to accommodate 23 pairs. Kindly Have a look and if you can adjust to accomodate between 28 and 30 pairs. That will Be a blessing to us all (when done and attached here).

For me it has been better to use low individual ots and traded as many pairs as available. because e do not know where the maket will end, we are really guessing. The week is a natural T/F as there s a break an so if we structure around that like most social activities, the market itself, we could be surprised.

When set (proven Legs) it is just a matter of increasing the lot size to accommodate more gains in accordance with low Geaing, Even at the worse excursions there should be at least 80% of Current Balance as Free margin. Please see related post #182, here .

Do help with the Basket Candles Indi attached if able.
Have a Blessed Week-End.

Bless!

Hi again All,
just to make the work lighter, I have attached the version 9if the indicator) that I have tried to get 30 pairs displayed, to no avail.

Perhap at 30 the data is to big for something, a variable to be delared as a larger type, just some of the things I have considered.

Incidentally this is a valuable toll for those who wish to manage a basket of curencies as do basket traders...!

Bless!