How Institutions trade before candles-st
The idea is based on how people can generate profits without requiring any prior charting knowledge, or how traders and institutions have done trading in the past.
The concept involves analyzing data from the previous trading day (e.g. calculating the range or behavior of the London trading day) and then placing trades on the next trading day (e.g. the New York trading day) based on that information.
Using this logic, I built an Expert Advisor (EA) that follows the same principles to automatically identify profitable trading opportunities
The core of this Expert Advisor (EA) strategy is to identify trading opportunities based on the price range during the London session. The EA will use customizable time inputs to calculate the session's high and low prices. By default, the London trading session opens at 12:00 GMT+5 and closes at 17:00 GMT+5. After the session, the EA calculates the high and low range (difference) and then uses this value to set pending buy and sell limit orders. The formula is as follows:
Difference = Highest price in London - Lowest price in London
Sell Limit Level 1 = (Difference × 0.20) + London High Price
Buy Limit Level 1 = London Low - (Difference × 0.20)
The same logic applies to Level 2 and Level 3 using multipliers of 0.58 and 0.92 respectively. The EA settings will allow the user to modify these multipliers and define the number of levels to be activated (for example, 1, 2 or all 3).
Additionally, the EA will have a basket-based Take Profit (TP) and Stop Loss (SL) system. If the net floating profit of all open trades reaches +$500 or -$500 (can be changed in settings), the EA will close all running positions. This ensures that risk management is maintained at the account level rather than per transaction.
For user convenience, a display panel will include displaying important information directly on the chart in a large, easy-to-read format. This includes the total account balance, total equity, quantity and lot size of all buy and sell positions, and maximum drawdown amount. This display allows traders to understand real-time account indicators at a glance.
NOTE: Please review and test this EA thoroughly - if possible, to make it as useful as possible.
Be blessed.
best regards
Hashikaron.
The concept involves analyzing data from the previous trading day (e.g. calculating the range or behavior of the London trading day) and then placing trades on the next trading day (e.g. the New York trading day) based on that information.
Using this logic, I built an Expert Advisor (EA) that follows the same principles to automatically identify profitable trading opportunities
The core of this Expert Advisor (EA) strategy is to identify trading opportunities based on the price range during the London session. The EA will use customizable time inputs to calculate the session's high and low prices. By default, the London trading session opens at 12:00 GMT+5 and closes at 17:00 GMT+5. After the session, the EA calculates the high and low range (difference) and then uses this value to set pending buy and sell limit orders. The formula is as follows:
Difference = Highest price in London - Lowest price in London
Sell Limit Level 1 = (Difference × 0.20) + London High Price
Buy Limit Level 1 = London Low - (Difference × 0.20)
The same logic applies to Level 2 and Level 3 using multipliers of 0.58 and 0.92 respectively. The EA settings will allow the user to modify these multipliers and define the number of levels to be activated (for example, 1, 2 or all 3).
Additionally, the EA will have a basket-based Take Profit (TP) and Stop Loss (SL) system. If the net floating profit of all open trades reaches +$500 or -$500 (can be changed in settings), the EA will close all running positions. This ensures that risk management is maintained at the account level rather than per transaction.
For user convenience, a display panel will include displaying important information directly on the chart in a large, easy-to-read format. This includes the total account balance, total equity, quantity and lot size of all buy and sell positions, and maximum drawdown amount. This display allows traders to understand real-time account indicators at a glance.
NOTE: Please review and test this EA thoroughly - if possible, to make it as useful as possible.
Be blessed.
best regards
Hashikaron.
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