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Old 09-06-2007, 03:30 AM
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I need help writing an EA for a simple system

I am posting a message in here in hopes that someone can help me out and write an EA for a simple short-term support & resistance trading strategy.

Basically here is how it would work:

The EA would find the highest price (resistance) and lowest price (support) of the GBP/USD charted between 2:00 and 4:59 AM CST and keep this reference point. Then from 5:00 to 11:59 AM CST the EA would make a buy or sell of the GBP/USD when it rises above the reference highest price (resistance) or when it drops below the reference lowest price (support). The EA only takes a buy or sell from this 5:00 to 11:59 AM CST time period. There would probably have to be a way to write it to trade around the NY session economic announcements as the increase in spreads may have a negative effect on it if the EA is in a current trade or if it gets you in one.

The TP, SL, (maybe a trailing SL too if going for larger pips) and lots to trade parameters would have to be worked out based on each persons risk exposure. Maybe a simple 20 TP and SL of 10 to try for starters. There is usually a good move each day that would yield some nice pips using the criteria above. I think this would make for the basis for a good strategy to demo test.

Maybe from a lack of my understanding, there may already be a system that is similar or an EA that replicates this system already. If that is the case, I would be interested in running it in a demo account to test it. I know there are a lot of you that have the talent to help build this simple program and are willing to share that with us all.
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