This is my first post, first request for an EA, hope you can find some time to consider this. I've done some Fx trading, and am frankly getting tired of trying to concentrate on finding scalps, which is my preferred method. Scalps takes a lot of concentration, on the entry and exit side, and I would prefer to have an automated approach if at all possible. I'm not that hopeful that this can be done, after all, how many successful EA's (commercial or otherwise) are out there and have passed the test of time. Not many it appears.
Anyway, my scalping method is to look for a currency pair that appears ready to make a trend change on the one minute bar, and go the other way (expecting a new trend to take hold). For this I normally watch the Slope Direction Line indicator (set at period=20, method=3, price=0). It changes color upon a bar closing that changes the trend. It's a bar too late for perfect trading but I can make it work.
The EA would be set to work in one direction only - long or short. Most days direction is weighted to one or the other, occasionally both equally. For simplicity sake I want to be able to work with two EA's - one for long, one for short.
Entry should be on a color change indicating up to down, and down to up. I am aware the bar repaints during the process of completing the 1 minute bar. But when it's finished and has changed color, that's the signal to enter a buy or short sell. The entry price needs to be within 4 pips of the slope line, and the order can only last the duration of that first bar after the signal, otherwise no trade. A stop of 'x' (five or so) pips would have to be applied once the order is entered.
Exit is stopped on trailing stop out, or when the slope line changes color again.
Only one trade can occur per slope line of one color. The next trade must wait for another slope line of the same color.
Hope I've got adequate detail for you. Thanks in advance.