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Expert Advisor for MT4

This project was successfully completed by ElSakr for €50 EUR in 3 days.

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Employer working
Project Budget
€30 - €250 EUR
Completed In
3 days
Total Bids
17
Project Description

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

Stop loss

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.

- Martingale

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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