Thank you for your reply Vonasi. Very helpful!

As you can see I am a beginner and when you describe it like that it makes sense that it is hard to automate trading for a strategy that don’t have very clear set rules. I guess these types of strategies fit manual trading better. But if you set you own clear rules it shouldn’t be impossible to write a code right? I mean even if I want to trade the strategy manually I assume I should back test it first so I get an idea if it’s even worth pursuing this trading strategy.

I am actually interested in using multi time frame in the strategy as the ”one order cancels the other” type of order is something I want to experiment with. Is it very difficult to write that type of code?

How would we write code with more precise rules, for example:

1. As soon as the 7 a.m. GMT candlestick closes, place two opposite pending orders:  a buy stop order 2 pips above the high and and sell stop order 2 pips below the low of the 7 am GMT candlestick. When price activates one of the pending orders, you cancel the other pending order that has not been activated. – This is where the multi time frame comes in I assume
2. A stop-loss order should be placed 5 pips above the high/low of the 7 a.m. GMT candlestick.
3. The target profit should be set to 50 pips – if this is reached then close your position.
4. If you have an open position (or a pending order) still open at 3 p.m. GMT then close the open position/cancel the pending orders.

Any help would be greatly appreciated!