Envelope EA Needed

Trading Systems Expert Advisors and Automated Trading
1

Hello Traders,
This is a scaling out strategy. Will appreciate if someone can code an EA for this strategy. Only uses a moving average envelope and nothing else.

Entry Rules:
Moving Average 250: Envelope = 0.02% Buy Stop on the top band 3 positions. Sell Stop on the lower band 3 positions.
Stop Loss: Other end of the envelope. That is, if it is a buy stop, sl is at the lower band. If it is a sell stop, sl is at the top band.

Exiting Rules:
Target 1: 20 pips
Target 2: 40 pips
Target 3: Trailing. If it is was a buy position, it will be trailed till the touch of lower band. If it was a sell position, it will be trailed till the touch of top band.

Thanks and Regards,

1 Like
2

I can code on mt5. this looks easy.

Do you know if this strategy works?

3

Hi Reily, this strategy was inspired by ‘Vegas one hour tunnel’ strategy on forex factory website. It can work. If you want you can study Vegas system on forex factory, you will get an idea. I don’t have mt5 access through my broker. Only mt4. You can keep the strategy for your use if you want. :slight_smile:

4

Thanks will do :slight_smile: