Expert Advisor for MT4
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Project Budget€30 - €250 EUR
Completed In3 days
Expert advisor for MT4 that trades gap.
Long positions when the opening price of the market is under the closing price of the previous period (see attachment)
Short positions when the opening price of the market is above the closing price of the previous period (see attachment)
Variables of the indicator that i would like to set/optimise
- minimum range of gap
this should consider the last number in the prices of the market i am studying
for instance in DAX30 7705.0, if i set mimimum range 20, it means the minimum gap should be 20 points, so from 7705 to 7707.
in EURUSD [url removed, login to view], if i set mimimum range 20, it means the minimum gap should be 20 points, so from 1,34500 to 1.34520.
in stocks, same thing so always last number in the price
- Maximum range of gap, same settings above
So if a gap is below the minimum range do not trade, if it is above the maximum range do not trade.
If a gap is betwenn minimum and maximum, trade.
- Take profit
It should be set as a percentage of the gap width
So if i have a 100 points gap, and i set TP at 80%, target should be 80 points
if Dax closes at 7500.5 and opens at 7490.5, and i set 80%, target should be 7498.5
It should be set as Reward/Risk ratio, so if the take profit is 100 points and i set
Reward/Risk 1 --> stop loss is 100 points
Reward/Risk 2 --> stop loss is 50points
Reward/Risk 0.5 --> stop loss is 200 points
- Nominal Value of position
The volume of operation should be set condiering the nominal value of exposition i would like to have.
Consider i would like to have [url removed, login to view]€ exposition.
If i trade EURUSD volume should be 0,10, easy.
If i trade DAX, based on my contract specs on my broker i shuold buy 1,3 more ir less, volume is 1,3
if i trade a stock whose price is 7,5€ i have to buy [url removed, login to view] --> 1333, here volume is 1333 circa.
So contract specifications should be considered.
starting from [url removed, login to view], if the trade is a loss,
next trade i would like to have a martingale but not an aggressive one, so for instance
1trade --> [url removed, login to view], Loss
2trade --> [url removed, login to view], Loss
3trade --> [url removed, login to view], Loss
4trade --> [url removed, login to view], Loss
5trade --> [url removed, login to view], Loss
6trade --> [url removed, login to view], Win
7trade --> [url removed, login to view],
It should be similar to a logarithmic curve.
(i found on the web an EA that is very very similar , it is attached).
End of EA
Than i would like to have an indicator apart from the EA that send me an alarm and a mail when i have a gap in one of my charts.
Except for martingaleand nominal value it should work exactly like the EA,
so i can congifure:
- min/max range, take profit, stop loss
So The message should be
Gap UP (or GAP down) on "name instrument"; Sell@price (or Buy@price) TP @"price"; SL@"price"
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