Two Lines and a Chart

Post #322 http://www.forexfactory.com/showthre...334262&page=23

I see that one issue we are going to have is when the spread fluctuates. This can cause our SL/TP to be hit without opening up a reversal trade and vice versa. A reversal trade may try to enter before closing out the open trade. Here in the U.S, that will not work. So, I have an EA request....... the whole idea behind this EA is to eliminate this spread problem.

1) I would like the EA to read horizontal lines on the chart. An upper line can be one color and a lower line can be another color. The lines can be put on manually and the colors adjusted in the EA to match the colors on the chart. The EA would just have to recognize the line manually put on the chart.

2) One color line will be used to close a long trade. Then, if the option is checked within the "EA Properties", it should open a short trade. The other color line will be used to close a short trade. Then, if the option is checked within the "EA Properties", it should open up a long trade.

3) Now, spread should not figure into what the EA reads at all. This should only use actual values of the candlestick. So, lets say I want to close a short trade 4 pips above the close of the last bar. I would put a horizontal line with the matching color at the price I want to close the long trade. In this case, 4 pips above the close of the last bar. Then, when the actual candlestick price goes above the close of the last bar (or simply put, hits my line,) the short trade will close. And, if I have the option "cheked", it will than open a long trade. Same situation for a short trade. If there is no trade to close, and the option is "checked", than there is no trade to close, but than the EA will just open up a trade at that line.

4) We will need to be able to put into the EA how many lots we would like to open with the new trade.

5) The EA should be able to read two lines on the chart, even if both are on the chart at the same time.

This EA certainly will not do the trading for us, as this system is very manual, but it will help eliminate the problem of fluctuating spreads.

If anyone can tackle this and post it, that would be great ! If any clarification needs to be made, please feel free to post any questions here.

Thanks

Dust

Here is an example where the fluctuating spread got us in before we should have entered. The EA would prevent this kind of premature entry or exit.

Break out of upper trend line with entry.

Blue line is now out of play. Red line is in play.

Breakout of upper line. Enter long. Red line is now in play.