Topic: Strategy Building,
How can I build a strategy using FSB that;
- it opens a BUY position with x Lot when at Support on Mxx time frame;
- it will add new positions when it goes deeper of pre-set pips, lets say 20 pips with 2x Lot
- it will continue adding more BUY positions of same pre-set pips with 2 times of the last positions opened
- Stop Loss and Take profit can be set for all, and Break even level + some pips
The same to be done for SELL position at Resistance level and open more positions with same pre-set pips values
BUY positions and SELL positions are to be groped in different group that Both BUY and SELL positions could be opened and closed according to trade and market conditions.
Lets say at 1.2000 price level EA will open a BUY position with 0.01 Lot s it is at support level;
when price move further deeper 20 pre-set pips 1.1980 and openes another buy position at 0,02 Lot
at 1,1960 price level it will open a new position at 0,04 lot
at 1,1940 price level, it willopen a new BUY position t 0,08 Lot
It should be possible to set how many trade to be opened in same direction in this way and same TP and SL to be set for all opened position so is for the BUY group.
Take profit canalo be set if group of BUY basket is positive xx pips as Take profit that closes all opened BUY trades
same is valid for the SELL trades independently from BUY basket.
Basket Support / Resistance 1st trade open condition to be re-set when Stop Loss or Take profit or trades are closed for the new basket to start
1st BUY or SELL trade opening conditions could be set in different condition if support / resistance is not suitable