I will get to the SL in the moment.
Try to understand the idea.
My algorithm alert me about short transaction starting at level 1
Entrance at Sell level1 (sell) - TP at Take Profit 1 - but if -
the market will continue up than entrance Sell level 2 (sell 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 up than entrance Sell Level 3 (sell 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
- and again - if the market will continue up than entrance Sell level 4 (sell again) and move TP1, TP2, TP3 to TP4 level (4 transactions opened and all of them will have TP at the same level TP4
- NOW - if the market move up than entrance Sell Level 5(sell again, 5 transactions opened) ALL TP must be moved to the Level TP5 = TP2, TP3, TP4 and TP5 will bring PROFIT ------- TP1 will be LOST and this is your SL.
4H TIME FRAME - it means you have to be patient because the market may need some time to respond.
PLEASE DO NOT FORGET !!!!!!!!!!!!!!!!!!!
If the market will hit any next Sell level above Sell 1 than take the Profit and do not entrance any next levels.
Example: market hit Sell level 3 - it means you have 3 transactions opened for sale(Sell1, Sell2 and Sell3) - next, market went down and hit the TP3 - you close automatically all 3 transactions with Profit and DO NOT ENTRANCE ANYMORE SELL LEVEL 4 AND SELL LEVEL 5. - from now on we are waiting for next signal
Good luck traders!!!!!!!!
I forget to upgrade this idea
Algorithm added more levels but after we open position at level Sell6, market went down and closed all of our 6 positions.
After 49 days market closed our 6 transactions with total profit of 752 pips.
Sell1: -75 pips
Sell2: -3 pips
Sell3: +51 pips
Sell4: +175 pips
Sell5: +265 pips
Sell6: +339 pips
Total: +752 pips