Hi all: The idea looks at 5minutes candles between 7:00:00CET and 9:00CET and determines the highest and lowest price values during this period.
AT 9:00:00 CET the system decide between one of the alternatives I or II, depending on:
Alternative I:
If the 5 minutes candle closed before market opening at 9:00:00CET closed at the higher part of the range (lowest/highest between 8:00:00CET and 9:00:00CET), the system activate automatically at 9:00:00CET two pending stop orders on market:
1st: a long stop order at the highest detected between 8:00:00CET and 9:00:00CET and
2nd: a short stop order at 20 pips below the price before.
Profit Target/TP will be 5 pips of the long and short entry prices.
Alternative II:
If the 5 minutes candle closed before market opening at 9:00:00CET closed at the lower part of the range (lowest/highest between 8:00:00CET and 9:00:00CET), the system activate automatically at 9:00:00CET two pending stop orders on market:
1st: a short stop order at the lowest detected between 8:00:00CET and 9:00:00CET and
2nd: a long stop order at 20 pips above the price before.
Profit Target/TP will be 5 pips of the long and short entry prices.
In all cases:
I:If an order has been executed (long or short), the system does not touch the other pending order.
II: If an order has been executed (long or short), the units of the other pending order must be multiplicate as follows (in case the price don´t hit the TP of the before order):Multiplicate for 2nd order: 1st order units x 3. Multiplicate for 3rd and next orders: before units x 2 (1,3,6,12,24, 48,…)
III. If the the first order or one of the next orders hit the TP, all orders must be closed at this moment.
Thanks for your help…
B.
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