Ok I have manually Tediously backtested this strategy and traded it live (manually) till I can confirm the EA is bug free. Here is what I have found to be profitable with the EA if it gets tweaked.
(1) I have taken (I think?? CODING NEWBIE) out the code when a pending is hit to delete the other pending. I have seen alot on the 5 minute you can make pips when it goes up then it shoots down or visa versa.
(2) Also I took (I Think??? CODING NEWBIE) to close all other orders in since I use another strategy when the EA is on. And I do not want them closed.
(3) This EA puts orders in if the current price is at the high or low when the EA time programmed is up (example: 5 minute chart, 1400 time) and it will put execute orders on every tick. All day I have tried it and it put in atleast 5-8 Buys or Sells depending on if it is at the High or Low. It needs a limit of 1 trade ONLY. Also it is better that it does NOT put in a trade if the current price is too close (Creates too many WHIPSAWS with only 1 PIP profit). If the current Price is too close to put a pending in (InterbankFX requires 5 pips away from the Current price to enter a pending) then it is fine it does not put in a pending. I coded in an alert so if it does not go in you can make the decision if you just want to execute an order or not. My DistanceForEntry=0; since I have seen that 0 provides more pips and less stops then +1.
(4) Also it would be very helpful if it puts lines in on the High and Low so we know where they are, say a horizontal line.
I have made 50 pips within the past 5 trades using this method, but the EA kept putting in orders (refer to #3) so if I used the EA live, I would be way in debt.
I will keep everyone posted after the EA is refined so we can all make money!!!
HAPPY TRADING