I’d like to build an EA that trades my day trading system. I think this should be a fairly simple system to program, but I obviously don’t know MQL, so I guess I’ll see.
I trade 5% of my account on each trade, which allows me to compound over time. I only have one trade on at a time.
The EA will function on any pair (but I’ve tested mostly on EUR/USD, if we must pick a pair, let’s start there). I trade on an hourly chart. Each hour, when a new candlestick opens, I wait for a 30 pip movement from the opening price to enter a trade. My entry criterion is only met if the 30 pip movement occurs within the hours of the current candle. If it does not, I move onto the next hour and start tracking movement from the next opening price. I enter in the direction of the movement.
I set a trailing stop at 40 pips immediately upon entry. The trade continues until the trailing stop close my trade. When a trade closes, I begin monitoring for my next trade at the opening price of the next hour.
In the properties of the EA, I’d like the amount of pip movement that triggers entry to be adjustable. I’d also like the stop-loss to be adjustable. I’d like the EA to have an adjustable profit target so I can test setting high targets to close trades before the trailing stop.