Idea by: Vlad.

MQL5 code by: barabashkakvn.

The EA waits for the candlestick size to become higher than or equal to "Candle size minimum" within "The position can be opened within N minutes" minutes. At the same time, the "Length opposite shadow max" can also be considered (the lower shadow is considered for position Sell, while the upper shadow is considered for position Buy).

A rule also works here: Only one position can be opened on the current bar. If the last position was closed by Stop Loss (trade DEAL_ENTRY_OUT having property DEAL_REASON_SL is intercepted in OnTradeTransaction) and there was a loss, then the next position is opened with a "Factor of reduction of lot at SL" times smaller lot size.

There are two more interesting position-related parameters: "Position lives N bars" - position lifetime is set in bars, followed by closing the position forcedly, and "Close the profitable position on bar N" - closing a position on bar N, if such position is profitable.

Oh, I nearly forgot to mention that a position could only be opened within a time interval limited by "Start hour" and "End hour", and position size mamangement:

• Position volume can be constant (parameter "Lots">0, and "Risk"==0)
• Position volume is dynamic (parameter "Lots"==0, and "Risk">0)

Moroever, you can also disable Stop Loss and Take Profit levels and trailing.