Price Symmetry - Two Step Orders

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alifari
Posts: 4
Joined: Tue Dec 27, 2011 4:53 pm

Price Symmetry - Two Step Orders

Post by alifari »

Hi,

I am manually using this strategy and thought it would be nice if you could create an EA.

1) Currency EURUSD
2) Timeframe 5 minutes

I have noticed that EURUSD movement is symmetry based viz. every impulsive move is either 60 or 90 or 120. What I do is I wait for price to move atleast 50 to 60 pips from point A to B (I call it an impulsive move) then I wait for retracement of 25 to 35 pips (I call it as corrective move). I place my buy or sell order 25 pips from the top of retracement candle. Take Profit 50 Pips - SL 50 Pips or adjustable according to market conditions.

If the impulsive move is 80 to 90 pips then the corrective move is normally 40 to 45 pips, this is where I put my buy or sell order.

If the impulsive move is 110 to 120 pips then the corrective move is normally 55 to 65 pips, this is where I put my buy or sell order.

The above strategy is pretty simple. However, here is a twist.

1st Entry is 1 Lot viz. at 25 pips retracement of impulsive move of 60 pips - SL 50 Pips & TP 50 Pips

2nd Entry is 2 Lots viz. at 50 pips retracement of impulsive move of 60 pips - SL 30 Pips & TP as follows:
1st Lot close at TP of 30 Pips
2nd Lot BE at 30 Pips (By doing this we eliminate any loss on 2nd Entry and in case 2nd lot SL is hit its a BE) (RR 1/1.5)

The 1st Entry order SL remain unchanged until SL or TP is hit. (RR 1/1)

Here are my suggestions for EA.

1st Order

1) Currency Selection = EURUSD (currency adjustable))
2) Impulsive Move in Pips Between = 60 Pips (adjustable)
3) Corrective Move in Pips Between = 25 Pips (adjustable)
4) Entry = 25 Pips (adjustable)
4) SL = 50 Pips (adjustable)
5) TP = 50 Pips (adjustable)

2nd Order

1) Currency Selection = Same as above
2) Impulsive Move in Pips Between = 60 Pips (adjustable)
3) Corrective Move in Pips Between = 50 Pips (adjustable)
4) Entry = 50 Pips (adjustable)
4) SL = 30 Pips (adjustable)
5) TP = 60 Pips (adjustable)

Would appreciate, if you could make an EA with above suggestions.

Thanks,

Alifari
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