I have an idea to develop a "Daily high-low break system EA",detail as below:

1.EA works only on GBPUSD,because this pair moves big,of couese can use on other pairs but I think the result will not so good.

2.An indicator shows the previous day's high and low.Today when price go up and break the "high" we go long and if there is already a "short" order exist,we should first close it.The same method,When price go down and berak the "low" we go short and if there is already a "long" order exist we also should close it at first.(We
do not care how much pips we will lost when we close the order)

3.For example,we have a "long" order in about 1.8938 in NOV.20,price go up and up,in DEC.05 in about 1.9708 the price break the "low" line and we close the "long" order with the profit=1.9708-1.8938=770 pips. At the same time we open the "short" order at 1.9708 and wait for the price go up and break the "high" line.

4.I just write a small "EA" for this method(just some basic function and I am not a programmer),but there are lots of improvement should be done,I post all the related file here,hope skillful programmer can help me to finish it.Thanks in advance!

5.The file dayHL.mq4 is the indicator, it will show previous day's high and low on the chart,default is 1000 bar,but you can change it to 100000.The file DayHL_EA.mq4 is the unfinished EA.

Attached Images

GBPUSD_4H_20061206.jpg (49.9 KB, 610 views)

Attached Files

	DayHL_EA.mq4 (2.4 KB, 233 views)
	dayHL.mq4 (3.2 KB, 234 views)

And I think we should use the H1 period,the order's open price is the close of the 1H bar.When price close above the "high" line we go long and when price close below the "low" line we go short.By this method,we can confirm the trend is the real one,just eliminate some "shake" of the price.

And we can see that at the every moment there will be only one order floating
maybe long order or maybe the short one.

We do not open 2 orders at the same direction,just one!One by one,long--->short--->long----->short.

Sorry for my poor english,not my mother lanauage .

Waiting for your good news!

the picture you gave has open and clsoe defined as the shadows, but i think it will be better to do it as close of the candle. it seems to be a good indicator of trend change but due to the size between high/lows it could lose more than it makes, maybe using the previous high/low as a trailing stop would help preserve profit. so when the price hits the line it closes, when the candle closes and crosses the line a new trade is made.

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There is no candle.