This EA robot aims to take advantage of the sudden sharp movements that often happen at the time of market openings. This EA places one buy and one sell pending order from the price before 60 seconds of the market open from a predetermined distance from that price. The pending orders are expired after a set period of time. The two pending orders are OCO (one cancels other); that means if one pending order is activated other is automatically deleted.
For instance, we can keep two buy and sell pending orders each from 10 pips away to expire after 05 minutes of the London market opening time. If the market moves 10 pips in 05 minutes or less upwards, we can reasonably assume that the market will move further up. Orders can have a stop loss, take profit, and trailing stop levels. If the market does not move 10 pips up or down within 5 minutes, both pending orders are deleted by the EA.
Supported markets openings:
- New York
|Timeframes||Any (Timeframe has no impact)|