Need an EA that looks at the previous days High and Low sets a buy order at the high and a sell order at the low. With an adjustable TP set for 10 pips. Also an option for trailing stop and stop loss. I would like for it to set the buys and sells shortly after 5pm EST. Once either the buy or sell is closed for profit, it will cancel the other pending order. If neither the buy or sell level is hit that trading day, it will just reset for the that days High and Low.

Thanks!

I think somebody did this already and tried it and it failed in the long run. I will try to locate the ea.

Dave
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Thanks, I only use this method on one specific pair. Been doing it on a demo account for months now and it always make profit. Some days it may not hit either buy or sell level, so you just reset it come 5pm.

What about a SL? I guarantee this system will hand you a fist full of losses..... eventually.

What if you break the previous day's high or low by one pip and then it retracts? What would you suggest to implement in an automated system to handle this problem?

I've ran a years worth of data. On a few occasions it did hit the buy/sell level and then retract. But within another day or two it eventually hit. Only once in an entire year did it hit and not come back for profit. At which point you will have to decide when to cut that loss. But once out of an entire year is pretty good odds in my book. I have yet to lose with this. Been running on demo for months now, setting it up everyday.

Besides, I'm not trying to sell this or recommend it for anyone else. I just want to turn my system into an EA so I dont have to keep setting it up manually everyday.

You don't really need an EA for this. Why don’t you just check your charts at the start the news trading day and place a ‘Buy stop’ and a ‘Sell stop’ pending order a few pips above and bellow the previous high and low….and set yourself a profit target and a stop loss. You only need to check your charts once a day and it shouldn't take you more then a couple of minutes.

I doubt you would make money though.

Ok.... I dont know how to be any clearer on this.

I want to have an EA for this so I DONT have to manually set it everyday. And I have been making money on my demo account everyday. I dont expect this to work on every pair, I only use it on one pair which I have run the numbers for a year of backtesting. Plus the demo trading I have been doing. I'm not looking for a critique, I just need to know if anyone can code this for me.

Which pair are you using this on?

Well if you can get it coded for me, I'll tell you!

That's cute, junior. I don't know what it is about this site that seems to attract people like you. This isn't a charity. Your first post is asking one of the coders on here to code an EA for you. You can't be that far detached from reality... can you? By your 3rd posting you're already showing attitude because no one has written a script for you yet. Mind boggling!!!

Here's the best part. I asked you about which pair, knowing full well what your response would be. Too easy. Let me save you some time and trouble, as it appears that you're still very green, and susceptible to stupidity. There are thousands of hedge funds out there employing the sharpest minds money can buy. These guys run market calculations that would make your head spin, and you believe that you're on to something that they missed. That's precious.


Welcome to the forum.


P.S.

By the way, we have a "coder for hire thread" here. Since you've found the holy grail, why fret about spending a few hundred dollars to have someone code an EA for you.