I wanna trade daily breakout boxes on GBPJPY. I have been looking at a system that might be profitable, making around 6%/month without any great risk being taken.
However I’m not able to trade this manually since I’ll be at work those hours and can’t babysit, and I have to work to get the capital I need to start trading forex for real.
So what I need for MT4 is: an EA that handles pending orders and hides the pending orders from the broker. I want the EA to handle the pending orders, one buy limit and one sell limit and the reason why I wanna hide it from the broker is that I want to get rid of a limitation in MT4. Sometimes the breakout box is small, so it’s not possible to execute a pending order through MT4, because MT4 can only set pending orders 70 points away from current price (at Alpari UK). So the reason I want the pending order to be hidden is that I want to be able to transcend this limitation in MT4. Someone should have thought of this problem earlier and written a script or EA that solves it.
The other function I’m looking for is a simple OCO (order cancels order) so that in case the buy limit is triggered the sell limit is canceled, and vice versa. This function needs to work together with the pending orders set by the EA…
This task might need some programming. Maybe someone would be willing to help out?