I want to automate a part of my manual trading system so I don't have to sit in front of the computer all day. I set the EA in the evening for the next day. The EA is based on one technical indicator (Gann HiLo Activator) that shows a trend line. Up is green and down is red. When a 5 minute bar closes above or below this trend line, a buy or sell trade is triggered. I attach the EA to 15min charts, but still the 5minute bar triggers the trade. The value/color of the last 4 hour close of the indicator is used. I will supply the indicator that is to be used.
Settings:
EA: on/off
Start: 00:00
Stop: 20:00
Trend1: Up/Down (indicator green/red)
Trend2: Yesterday/Today (the last closing 4H of yesterday/today, e.g. if today is all green but I want to use the last red close of yesterday)
Risk1: 50pips
Risk2: 3%
Trades: 2 (max amount of trades per day, i.e. within start/stop)
Money management:
Risk per trade: 3% X account balance / 50pips
Close any open trade when opposite conditions are met
No take profit, no other money management