How do you go about using price to determine when to enter or exit positions? I can use indicators all day long but my system requires price based entry in certian conditions. . . .


Here is waht I need to do...
extern bool Stepper =false;
extern bool OpenBuy =false;
extern int PipDifference =3;
extern int PipStep =2;



if (conditions_are_met){
double high1 = iHigh(NULL,0,1);
double high2 = iHigh(NULL,0,2);
double high3 = iHigh(NULL,0,3);
double high4 = iHigh(NULL,0,4);
double CurrentPrice = iHigh(NULL,0,0) //not sure if this is the right code

if (CurrentPrice < (high1 - PipDifference)) {Stepper=true; OpenBuy=true;}
if (Stepper){
if (CurrentPrice < high1 - PipDifference - PipStep) {OpenBuy = true;}

//Basically I want to buy when current price is less than PipDifference, and buy again at every Step. in this case buy at previous high - 3, and again at -5 and -7 and -9 ext...

//Then I want to trail that position at a NEW High. So as soon as the current price hits a new high (higher than the last 4 periods) then trail the position with a tight trailing stop (2-3 pips). This has to be done for all of the positions opened.

//Or even better somehow make it wait (x number of bars) and go start the trailing stop at the new high a few bars later. But the sooner you capture the profit the larger your next trade can be....

It basically trades with the trend and takes advantage of the high volitility.

Hopefully the attached chart will give a good visual.

Attached Images

TrendScalp.JPG (199.0 KB, 254 views)