@l-andorrà Thank you for you response 🤝 I would appreciate if you could have a look at this idea i have come up with from staring blankly at charts 😬
RN_EA
Logic >>> Price is trading from round price level to the next. Once a level is reached, only 2 things can happen from there, either it goes up or down to the next.
Observations >>> 50 pip price level increments are ideal for intraday targets but I noticed that a lot of the times, price doesn’t make it all the way to the next level and either retests the level it broke or reverses. Further investigations find that there is a higher probability of price going sooner to 25 pips from a 50 pip level than it is going to the next 50 pips levels, keep in mind that this is regular trading times and behaviour is different between high volatility times/news.
3795469f-ef1b-44ab-9523-0a76de6bd15b-image.png
The screenshot above shows what I observed.
The BLUE LINES are in 50 pip increments. The ARROWS indicates a candle that crosses a level and closes above/below, if price retests the level on the next candle then we can target the next 25 pip price level.
The GREEN or RED blocks indicate a win or loss and are 25 pips in size.
The SMALL X indicates no tag after confirmation candle
With this logic, put together an idea for an EA that does the below .. Based on H1 chart
Time Filter
No Trade
Once per Bar
Round Number
User defined Level Increments
Buy Entry Confirmation
Bullish candle (C1) open/low is < level, crosses and close > level
(Basically price is breaking through levels/highs from below and we trying to buy into the momentum)
Buy Pending Order
Place BPO at level that Bullish candle (C1) closed above
No offset
TP 25
SL 25
Expire in 1H (Immediate retest)
Sell Entry Confirmation
Opposite of Buy Conditions
Sell Pending Order
Opposite of Buy Conditions
I have attempted it but its not doing what i want it to do 😬
https://fxdreema.com/shared/XnVieAO4c
Please let me know what you think.