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Thread: Previous Candle high/low Trading Strategy

  1. #1
    Junior Member
    Join Date
    May 2010
    Posts
    1

    Lightbulb auto trading idea

    Hi everyone,

    I need help to build up my strategy. I used that Idea with manual trading and it`s profitable. So now I need to have it automatic.

    I would really thankful if anyone can code given below strategy.

    Basic Trading Strategy :

    # Check previous candle high value.
    Place pending buy order at 5 pip above previous M15 closed candle,

    # Check previous candle low value.
    Place pending sell order at 5 pip bellow previous M15 closed candle,

    # When pending hit then opposite pending order will automatic cancelled

    # if sell/buy pending order not reached the target , then wait for the next 15min candle and cancel previous Buy and Sell pending order.


    # Time Frame = M15.
    # Lot Size = 1
    # Take profit = 2 pip
    # Stop Loss = 3 pip (from sell and buy price)
    # Trailling = 1 pip

    maybe with picture much more understanding



    Example:
    Previous high is 1.26500 Previous low is 1.26300 Buy order would be 1.26550 TP 1.26570 SL 1.26520 Sell order would be 1.26250 TP 1.26230 SL 1.26280

    Thanks!
    Last edited by fxtrading11; 05-07-2010 at 20:02. Reason: na

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