Hi,
Chart attached.
This is a 15 min GBPJPY from about 20 mins ago.
Green line is my shifted MA5
The blue vertical line is where I decided it was time to place a sell.
As you can see the price was below MA5 but came back twice. That was where I wanted to enter.
The trouble is I can't be quick enough and things can happen, i.e it moves too quickly, price requotes and it is too late or I jump in too quick and get stopped out. An EA will remove this bit of emotion for me and help me improve.
Also as you can see, if I missed the first entry its an hour before another one came along. I can't watch for this amount of time and it could start to go the other way. If that happened I would stop the sell and open the buy limit EA.
The MA5 I use is a stock MA from the indicators with a shift of +1, smoothed/median/hl2 setting .
I'd like the EA to place a pending order sell limit (no sl or tp needed as this is managed by another EA) in anticipation the price will come back, if it doesn't then so be it.
After 5 mins it may not have entered (come back) so it needs to delete the original pending order and place a new one based on the new 5 min MA price as this will move every 5 mins.
Same for placing a buy i.e the reverse.
Really hope you can help or point me in the right direction.
cheers
PG