NEW BAR ENTRY EA
Though I prefer to trade specific bars on 30min, 1hr, 4hr,Daily chart it would
Be nice to have a ea to help me to calculate entry levels for pending orders
At the time when a new bar Is created. Only 1 trade at the time can be placed.
WHEN A NEW BAR IS CREATED.
This EA will place a Pending sell order at Previous bar LOW – 1 - Spread,
Stopploss = Previous bar High +1
Place a Pending Buy order at Previous bar High + 1 + Spread
Stopploss = Previous Bar Low – 1
Feature could be turned on and off.
Size for stopploss should be 50% of previous bar Range/size.
This feature should be able to turn On and OFF.
The size of the lot should be decided by the account size, risk percentage
And the previous bar size. So the lot size will be smaller on a big bar and
Bigger on a small bar. R/R should be 1:2.
The Ma feature should be able to turn on or off.
Sometimes but not always it should be possible to use the Moving average.
Two moving average should be possible to use and it should be possible to change
This means that if the Ma1 > Ma2 we could place pending Buy order.
If the Ma1 < Ma2 we could place pending Sell order.