Fading highs and lows

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DarrenTeo
Posts: 4
Joined: Wed Jan 04, 2012 5:53 am

Fading highs and lows

Post by DarrenTeo »

This is a strategy I got from a full time trader, and I have been trading this successfully for 3 months. Would appreciate if someone could create this EA.

Description of EA 
The EA places a pending sell order x number of pips below the high of the last z candles, and also places a pending sell order y number of pips about the high of the last z candles.  Vice versa for the low of the last z candles.

If both the sell orders are hit, then the TP in pips is calculated based on the average of the two positions. The SL in pips is also calculated based on the average of the two positions.

Once TP or SL is reached, the EA deletes any pending orders and no longer sets any new orders until there is a new high or low based on the last z candles.

The concept of the EA is the fade the high and lows, using multiple entries (two entries).

Inputs
First pending order pip distance: 
First pending order lot size:
Second pending order pip distance:
Second pending order lot size:
TP in pips:
SL in pips:
mieloo
Trader
Posts: 62
Joined: Wed Nov 16, 2011 9:58 am

Re: Fading highs and lows

Post by mieloo »

hi,can you show us an example on a chart ?
what is z candle ?
User avatar
JulesvH
Trader
Posts: 50
Joined: Wed Nov 16, 2011 7:33 am

Re: Fading highs and lows

Post by JulesvH »

A picture would be nice indeed.

Z candles is an specified amount of candles. It is just mathematical "language".
Instead of typing 10 candles or 11 or 12, just name it z.
So x number of pips, y number of pips above or under top/bottom and z number candles back
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