Originally Posted by
;
I like to do my testing in real time, however I work full time and I am not able to look at the charts in the 4 hour rollover times. I would like to be able to preset my entry conditions into a custom EA and have this monitor the OPEN price of the new 4HR bar and ENTER a commerce if the conditions are satisfied.
I see this as a simple EA that would execute one entry order if the OPEN is above/below the fashion line value, place the take profit and stop loss values and do nothing else (i.e. turn off itself and wait for me to enter the next set of entry conditions and reset the EA).
This way I'll be able to assess each entry, reject those that I don't like for some reason (non Reward/Risk ratio, fashion line too steep, etc) and tweak the halt and targets to match my personal version of the system.
My perfect input parameters are:
Trade Direction: LONG/SHORT
Parcel Size: xx contracts
Trend Line Value: -LRB-xx-RRB-x.xx-LRB-xx-RRB- [I wish to enter this manually; I don't want the EA to compute any worth ]
Stop Margin: (x)xx pips [I want to enter this manually; I don't want the EA to compute any worth ]
Take Profit Margin: (x)xx pips [I want to enter this manually; I don't want the EA to compute any worth ]
Entry Gap Filter: (x)xx pips [if the bar opens more than xx pips from the Trend Line Value discard the trade]
I feel that lots of traders who work full time (or sleeping at nights!) And have difficulty being in the 4HR in their computers rollover times would get benefit from this kind of EA, if it is being used by them in Demo or Live accounts for your Mouteki system or some system that utilises 4HR bars.