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Gator Bounce Method
I need help developing an EA for specific trading conditions. My EA programming is limited so this is beyond me. Here are the rules:
Find the ATR of the pair you are interested in trading. If the pair has moved more than or equal to its ATR beginning from the European opening then it is a candidate for the trade.
Next identify the psychological barriers of 50 and 100 and when the price turns around at one of these points and it is after 10:30am EST, take the trade within 5 pips of the Psychological barrier in the opposite direction of the large move.
The take profit will be 20%-40% of the initial movement and the stop loss would be 15 pips above the psych barrier.
The trade only occurs maybe once a week, but if the conditions are met there is a high probablity of being successful.
Thank you
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