I need an EA that works on breaking of support and resistance level, with the following features in it:-
1. Opens a Buy Trade when the bar closing is above the current resistance level (represented by red dots) and opens a sell trade when the bar closing is below the current support level (represented by blue dots).
2. The stop loss should be the current bar's low if it is a buy trade and it should be current bar's high if it is a sell trade.
3. Take profit should be x (user defined variable) times the stop loss value, for e.g. if the stop loss is 10 pips and the user wants the take profit to be 2 (the value of x )times the stop loss value then take profit will be 20 pips.
4. The system should close the trade when a new resistance / support are being formed.
5. Trailing stop loss concept:-
5.1 Automatic:- The stop loss should automatically change as the trade progress it should change to the previous bar’s low if it’s a buy trade and should change to previous bar’s high if its sell trade.
5.2 User defined pips with a break even point.(i.e. I want a trailing stop loss of 20 pips to be active after the trade has moved 30 pips in my direction, where 20 and 30 are values and can be changed.)
6. Money management concept should be used based on stop loss for further reference please refer (http://www.goforex.net/money-management-calculator.htm)
7. I am attaching a screenshot and the support / resistance (Pipholic) indicator.
For any further clarifications please feel free to contact me.