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If anybody can code this EA which can run in MT4 platform, will be greatly appreciated. Please quote, how much you charge for this coding.
External Selections:
Currency Pair:
Lot:
Time Frame:
Moving Average: SMA / EMA / WMA
Distance from MVG (in PIPS):
Buy & Sell:
Strategy Overview:
EA should accommodate any currency pair, any lot size, any time frame (even from 1 minute TF) and Buy and Sell as per the external selection. Trailing stop (TS) is based on the Distance from MVG. (All in PIPS)
EA Conditions:
- Only one currency pair should be allowed to trade as per the selection.
- Only one position at a time. E.g Buy or Sell.
- Trailing stop and Reverse Order should be at the same rate always. That means, if Trailing stop triggers, simultaneously Reverse entry order should also be triggered. Again Reverse order should have Trailing stop order. It should be a continuous process.
- Trailing Stop orders should be placed separately as some of the Brokers don’t allow Trailing stop orders to be placed together either with a buy or sell order.
E.g. Simple Moving Average (SMA) is 100 and Time Frame (chart) 1 Hour for EURUSD pair. SMA Price is 1.4250 and the Distance from MVG (external Value) is 10 (PIPS).
- EA should confirm first that there is no open position.
2. EA should place a
BUY order at 1.4260 (1.4250 + 0.0010) and immediately place Trailing Stop (TS) order (SELL) at 1.4240 (1.4250 – 0.0010) and a
SELL order at 1.4240 (1.4250 - 0.0010) and immediately place Trailing Stop (TS) order (BUY) at 1.4260 (1.4250 + 0.0010).
3 If BUY order gets triggered, Trailing stop order and Reverse order should always be based on the SMA Price. E.g If the SMA rate gets changed to 1.4275 by next 1 hour, TS (SELL) should be (1.4275 - 0.0010) = 1.4265 and SELL order should be (1.4275 – 0.0010) = 1.4265 and its Trailing Stop (BUY) should be (1.4275 + 0.0010) = 1.4285.
4. If the first BUY order TS triggered and position closed, simultaneously SELL order also gets triggered and SELL position opens with a TS. EA should open a BUY order, as the previous BUY order gets closed. Like this, EA should continuously open orders. (That means, always there should be an open position with a TS and a reverse order with a TS.)
5. A very important point is that the Trailing Stop which is initially placed should always move in favour, even if SMA moves in the opposite direction. That means, if SMA is 1.4250, the BUY order triggered at 1.4260 (1.4250 + 0.0010) and TS is 1.4240 (1.4250 – 0.0010), after opening the position SMA moves to 1.4245, actual TS is 1.4235 (1.4245 – 0.0010), this should NOT be allowed as it increases the loss from 20 pips to 25 pips. Maximum Stop Loss should always be 20 pips, in this case. TS should always move in favour not in opposite direction. Reverse order should also have the same logic as TS and Reverse order rates are always the same.
If there is any clarification, please contact my email: sprabusap@yahoo.com.sg