Directional RnR Grid from Level

[drswing]

Hi Folks, I came to this forum to learn to develop EAs as all my trading is totally manual, and I could see how some automation would benefit my trading and free up more time.

I basically just trade from a level with a pretty tight stoploss. The level is drawn manually by purely reading price. Quite often I get the initial bounce, but end up holding too long and price reverses. I can see how a directional RnR type grid would gather some pips before price might reverse. Drawdown would not build up as there would be a stoploss beyond the level I am trading from.

So the idea is to draw the levels once a day, and an EA would trigger at that level and continue to trade until either stopped or ultimate target is reached. In the mean time between stop and target the RnR type grid would harvest pips .

If some one could point me in the right direction as to which existing EA would be best to modify to achieve this goal, it would be great. Or even help with one, better again . I have gone through lots of EA here in the forum but as I am new to this I am still a dimwit peasant.

If I could get this up and running I would then like to get permission to open up my own thread to show my trading progression with the EA.

Thanks for all the selfless work done here . I hope to continue the sharing.

tommy

[TraderJoeForex]

Hi, I woud suggest starting with the original RnR and having a chat with Bruster or Steve.

I had a similar thought of maybe RnR trading that starts once price touches a xx.100 line and with a SL 50ips behind this would be an interesting alternative to the equity loss partial close or SL at present. The SL could jump 100pips once price has move up to the next xx.100 line.

Anyway good luck with your idea and will follow with interest.

[drswing]

Thanks Joe for your reply. I did have a look at RnR but there is so much going on in the code that l'm not at the stage where I can play with it yet! I may have to seek help from a coder as you suggested. Thanks again