Hi
I have an idea for an EA that I was hoping someone can throw some code at.
We know the market makers (70% of the time?) are accumulating and manipulating the market at certain levels. They then (30% of the time?) push price very quickly at unexpected times in one direction. I want this EA not to focus on these pushes but instead capture pips at where the market makers are accumulating and manipulating at these cetain levels.
So there is two parts to this:
1. How does the EA identify levels?
2. What does it do when it gets there?
Initially I would like to skip part 1 for now. I do have ideas we could incorporate, major numbers, monthly pivots, monthly fib lines, weekly high/lows, level 3 areas, SS Support/Resistance indi etc...basically any likely level where the fox is going to mess the average retailer around. But I think it may need manual testing before we go there to try and auto program it.
-Pip Variance option. plus minus X pips from level.
-Auto Discover Level, looks for any level with a prior history of accumulation (10 or more touches)
So part 2 is we manually give the EA a number e.g. 1.3000 pair EU. My initial thoughts are that whenever price is within 20 pips above or below 1.3000 it activates a trade with its TP being 1.3000. SL 20 pips. One active trade only at a time (for now).
So lets break down the potential situations.
Priceshoots straight through 1.3000. We have 2 trades: 20 profit pips upon approaching and 20 pips loss on the other side. Breakeven situation.
Price hits the 1.3000 once and bounces off completely. We have 2 trades: 20 pips profit upon approaching and 20 pips loss when the bounce off go completely away. Breakeven situation.
Price goes 2+ times through this level we get overall profits.
Price goes to within 20 pips but never touches the 1.3000. Loss trade. It may do this situation a few times but chances are you have the level wrong in the first place. And our level of concern isnt the 1.3000 but infact 1.2975. We can use the pip variance of 25 to alter the level.
Let me know if there's anyone who is will to take a crack at this.
Thanks
