挂单网格系统 (Pending order Grid system)

I am not sure whether this trading strategy has been discussed anywhere but the strategy is as follows:

(1) Open two pending orders one buy and one sell at the current price.
(2) When one pending order is triggered, the other order is canceled.
At the same time another two pending orders (one buy and one sell are opened) at the price at which the recent pending order has been triggered.
(3) The pending orders should be in equal lots.
(4) It would be appropriate to start opening the orders at the start of the
trading day and close them at the end of the trading day.
(5) If the day follows a particular trend then it will result in good profit else
the loss as i expect will be very less.
(6) This strategy is suitable for trending currency pairs.
(7) There should be no target profit or target loss for any order
(8) The strategy aims at accumulating orders in the direction of the trend till the trader closes it after the achievement of target profit.
It limits the number of orders to only one boy and one sell order within the price range during sideways movement.
The loss during the sideways movement is limited to the width of the grid + Spread.
There should be a target profit for a day.
You may decide to close all the orders when a certain profit is achieved for the day.

(8) This strategy can be applied to even NFA complaint brokers like IBFX where the same currency hedging is allowed intraday. We close all the orders at the end of the day.

I have not yet implemented this strategy. as I feel an EA would do the job better.

The variables which the EA should be having are
(1) the distance from the current price to set the pending orders.
(2) The time when the EA should be activated
(3) the time to close all the orders
(4) Target profit if the trader wants to set.

No indicators are needed for this system.