Completed

Create EA to trade custom indicator alongside other rules

I'm looking to develop an EA that allows me to trade rectangles that are created in a separate indicator called II_supdem; this indicator generates rectangles that are used to define possible risk and targets on a trade,

For specific order levels I have specified a number of pips to enter orders above or below the supdem indicator objects, the risk for all trades and therefore the lot size for each half of the trade, and all target calculations are all based on this - so it is important

The trading EA it trade them based on a simple rule of only entering trades at the supdem levels when prices are outside of the 2.5 std deviation 20 period ma bollinger bands

EA Inputs

i) Pip Value = to specify what a 'pip' is, this is crucial to calculate everything correctly - including entries, stops, targets etc

ii) Position size per trade = 1.0% default (this is to be split into two equal trades)

iii) Target 1 = based on preset reward to risk ratio (default 2.0x)

iv) Target 2 = based on a multiple of the average true range (ATR) (default = 3.0x) being a volatility based target

v) Buy order number of pips above rectangle = (default 3.0 pips) + spread above the supdem level

vi) Buy order number of pips below rectangle = (default 1.0 pips)

vii) Sell order number of pips below rectangle = (default 3.0 pips)

viii) Sell order number of pips above rectangle = (default 1.0 pips) + spread above the supdem level

ix) Bollinger band moving average period = (default 20)

x) Bollinger band standard deviation = (default 2.5)

xi) Average true range (ATR) period = (default 14)

xii) Trail stop (target 2 only) = move stop loss to 5 pips above or below entry once target 1 is hit

xiii) Minimum number of pips risk = (default = 10) to avoid trading very small levels

xiv) Maximum number of pips risk = (default = 300)) to avoid trading very large levels

This EA needs to be able manage the following:

1) Be able to determine what a 'pip' is, based on the currency, also taking into account brokers that use fractional pips (1/10th pip) adding another decimal point

2) Be able to determine position sizing for each trade based on a % account equity at the time of entry i.e. 1%, but also be able to split this amount into two separate halves of the same trade

These two halves of the trade will have the same entry and stop loss but have targets based on different criteria (i.e. 1st half of trade based on variable reward to risk ratio, 2nd half based on ATR multiple)

3) Be able to round all positions down to the nearest 0.01 lot, with the minimum order being 0.01 lot ($1000 micro lots)

4) Be able to trade both long and short

5) Ensure that all trades have a fixed stop loss placed immediately upon entry (no naked positions) and preset targets for both halves of trades

6) Only trade a rectangle level once, even if prices return to the same rectangle again in the future

7) Be able to trail a stop loss on the second position of a trade only - only after the first target is hit, then the stop loss is raised to 5 pips above entry (for long trades) or below entry (for short trades)

8) It is important to use only the first rectangles nearest current market prices for possible long or short entries and these must be based on the external indicator, the reason is I would like to modify the indicator in the future to clean up (remove) unnecessary rectangles that it creates

9) Only trade the levels where prices reach the supdem level while outside of the 2.5 std deviation bollinger bands

Any questions please ask, please note all bids should be in NZD

Skills: Metatrader

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About the Employer:
( 8 reviews ) Auckland, New Zealand

Project ID: #17044451

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A1171

I can write it. Need to see indicator and need to know how you want to determine SL position. .

$200 NZD in 3 days
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7 freelancers are bidding on average $295 for this job

MarceloAptrafx

Hello, this is Marcelo. I am a 40 year old professional MQL4 programmer .I've been coding all kinds of MT4 EA's and Indicators for the last 10 years for many people around the world. In addition, I've been trading LIVE More

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matharpa

Hi, I am expert in making EA and CI for MT4. You can see my review in this website that I have done many good job for making EA and CI for MetaTrader.

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HamdiGarraz

Hi There ! I am a professional expert. I understand what you need and i'm able to do your project . I have a wealth of experience in this field. If you want to fast and good results, you can hire me. Thanks .

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nidhalnouma

Hi, I'm an mq4 programmer and i'm very interest with your project. I have a strong experience in the forex market and i did more than 200 EAs. I'm able to creat or modify any EAs. Just give me an opportunity to do your More

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Stonev

Hello Task is clear. I will be glad to help you with this EA and any other new project. Regards Alexey

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MT4Expert321

Hi, I am highly expert & experienced Meta trader developer .With 7+ years of experience & completed a lot of projects in it.I am very hard worker ,professional & help full person who can provide maximum results for y More

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