Hi Apprentice,
I would like to request a new Strategy which should be of considerable interest to members.
Multiple Entry/Multiple Exit(MEME) Strategy
The structure is much like several of your recent Multi position Strategies which I use. However here I want to create an Entry band so that once Price enters the band and hits the mid point, Entry orders would be triggered at and above and below the "anchor". The logic is to participate with near term extensions and pullbacks in price as it oscillates about a chosen level once a clear direction is established.
5 positions to be built about an "anchor" position with 25 pips(Variable) between levels.
2 positions above "anchor" and 2 positions below
It would be nice if position Entry levels could be filled automatically, but if not, manually would be fine.
parameters to be included:
Direction: Buy or Sell
"Anchor" level - Trade 3:
Pip distance between levels(Optional)
Trade 1:
Open trade 1: Yes/No
Entry Level
Lot size
Set Stop for Trade 1 ‘Yes/No’
Stop for Trade 1: 30
Trailing Stop order for Trade 1: ‘Yes/No’
Trailing for Trade 1, in pips 10
Set Limit for Trade 1: Yes/No’
Limit for Trade1, in pips 30
The Trade 1 Logic be repeated for a total of 5 positions
Many thanks as always, AG