I will get to the SL in the moment.
Try to understand the idea.
My algorithm alert me about LONG transaction starting at level Buy 1
Entrance at Buy level1 (buy) - TP at Take Profit 1 - but if -
the market will continue down than entrance Buy level 2 (buy again) and move TP1 to TP2 level (which means, you will have 2 transactions opened and both TP1 and TP2 will be from now on the same level TP2)
- if the market will continue down than entrance Buy Level 3 (buy again) and move TP1, TP2 to TP3 level (which means, you will have 3 transactions opened and TP1, TP2 and TP3 will move to TP3 level)
- if the market will continue down than entrance Buy level 4 (buy again) and move TP1, TP2, TP3 to TP4 level (4 transactions opened and all of them will have TP at the same level TP4
- and now - if the market move down than entrance Buy 5 (buy again, 5 transactions opened), ALL TP must be moved to the Level TP5 which means TP5 = TP2, TP3, TP4 and TP5 will bring the PROFIT------------ TP1 will be LOST and this is your SL
1h TIME FRAME - REMEMBER - there is possibilities that you will have to open 5 transactions or more on this pair - MANAGE YOUR BUDGET !!!!! - DO NOT INVEST EVERYTHING YOU HAVE !!!!!!
PLEASE DO NOT FORGET !!!!!!!!!!!!!!!!!!!
If the market will hit any next Buy level below Buy 1 than take the Profit and do not entrance any next levels.
Example: market hit Buy level 3 - it means you have 3 transactions opened for buy(Buy1, Buy2 and Buy3) - next, market went UP and hit the TP3 - you close automatically all 3 transactions with Profit and DO NOT ENTRANCE ANYMORE BUY LEVEL 4 AND BUY LEVEL 5. - from now on we are waiting for next signal
Good luck traders!!!!!!!!
This algorithm is no more active at this moment so please do not make any more entrance at levels Buy 2, Buy 3, Buy 4, Buy 5.