I’ve been in forex 4 months now. I figured out a strategy too, but really need advices to improve it. And of course, I come here in order to be helped by your programming skill.
First thing to say, I got a scalping EA that use “kertner channel” (an indicator that similar with Bollinger bands but different a little bit), it’s strategy kinda like, when the price break out of the band, then set an order. Then trailing stop, and when the price is long enough outside the band, it will come back, and it’s time to set an pending order which is in the opposite direction.
(Ex: When the price breakout the lower band, set sell order. And if this trade won - the price hit trailing stop and still outside the lower band and long enough, set and buy stop order. And vice versa)
But when I demo test that strategy, it was loss.
So I modified the code a bit. I change the code to trade opposite way. For ex, when the price breakout the lower band, trade buy. Yes it was loss too. And then I use the orriginal code and the edited code at the same pair. So that I have a hedging strategy that set buy and sell at the same time. With TP = 1 pip and no SL, I have an EA that is profitable - but ONLY when the market is sideway.
When breakout, the EA become a nightmare. Simple because no SL, the loss go on and on.
Hope you understand. I have no self confident in my strategy and my English as well
So what I wanna say is, my strategy has just 1 problem remains: Breakout, and have to close all the lossy orders (if the price go down strongly then close all the buy orders, for ex.)
An idea of mine to do that, is if I set SL of all the orders a bit outside the band, I mean all the buy orders have SLs at the same line - about 1 pip or something. And vice versa.
That is my conclusion about 2 weeks stuck around the strategy. I don’t know coding. So really need your help. If you wanna write code for that, please try with the bollinger bands.