This EA is based on the open of the British market which its first hour overlaps with the last hour of the Asian market, providing a high trading volume and statistically defining the high or the low of the day. It later overlaps with the US market for another 6 hours providing momentum.
This EA will place two open orders AFTER the first hour of the British market, at the high and the low of the one hour bar (the one that overlaps with the Asian market). If price crosses above or below the high or the low, plus a number of break-out pips, it will execute the order and delete the other one, will place a stop loss and a take profit level. The trade will last a maximum of 7 more hours or if it hits the stop loss or take-profit levels, whichever happens first. These variables, in bold, can be changed in the EA settings according to the trader preference.
Use this EA:
In main European pairs (EUR/USD, GBP/USD, GBP/JPY, etc)
In the 1h time frame