Please help!
Lets say I'm long on the eur/usd and the current market price is 1.3000 (and my SL is 1.2900). Is there an EA out there in forex land that will kick in and sell the instrument if price retraces 50% of the range between the CURRENT market price and the stop loss. That is in the example above if price retraced to 1.2950, the EA will open a position short. This EA has to be dynamic in the since that every time the EUR/USD climbs the 50% retracement value(of where I would open a position in the opposite direction) of the range between the CURRENT market price and the stop loss also changes.
This is hedging of course but with stop losses and no martingaling.
I ve been manaully trading a my own swing strategy for the past two years with success but with a growing business and family I havennt the time to be keeping an eye on the charts every hour or so monitoring the above mentioned retracement.
Even an alarm to alert of the above conditions would help. Anyways apologies if the above is not clear.
Thanks in advance
Lets say I'm long on the eur/usd and the current market price is 1.3000 (and my SL is 1.2900). Is there an EA out there in forex land that will kick in and sell the instrument if price retraces 50% of the range between the CURRENT market price and the stop loss. That is in the example above if price retraced to 1.2950, the EA will open a position short. This EA has to be dynamic in the since that every time the EUR/USD climbs the 50% retracement value(of where I would open a position in the opposite direction) of the range between the CURRENT market price and the stop loss also changes.
This is hedging of course but with stop losses and no martingaling.
I ve been manaully trading a my own swing strategy for the past two years with success but with a growing business and family I havennt the time to be keeping an eye on the charts every hour or so monitoring the above mentioned retracement.
Even an alarm to alert of the above conditions would help. Anyways apologies if the above is not clear.
Thanks in advance