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I want a Script to run on MT4 that I can select any line other than the security price that I have on my chart, whether it is a moving average, a trend line, an upper or lower band of a Bollinger, and when placed on the indicator or object the script will open a new position the first time that object is touched. As a user I should need to select:
A. Automatic Execution,
B. Set up the Order for manual execution, or
C. Place Arrow (default to Place Up or Down Arrow on Chart 10 pips outside the price) (An arrow will Always be placed with each event even if a transaction is to be set up or made)(I want a separate line for the other two options written in as default settings and those two lines commented out)
BUY or Sell ( a Buy here will place an UP arrow and a Sell places a DOWN arrow 10 pips above or below the object and nothing else unless the first variable directs that an order be set up or a transaction be made)
Lots to trade (Default to 0.01)
Stop Loss in % of the value of the pair traded, (Default to 0.25%)
Take Profit as a % of the value of the pair traded, (Default to 1%)
Minutes the Script will be active for after being placed (Default to 60) this is measured in minutes and NOT in bars.
Front Run the selected object by how many pips (Default to the current spread value when the Script is placed on the chart)
For example if I want to sell at the next touch of an upper 20 bar (100 minute) 2 deviation Bollinger band on a 5 minute chart and the spread is 1.3 pips. Then my sell order should be placed immediately when the first tick is within 1.3 pips of that upper band value. If I place the Script on a 5 minute chart and then shift the chart to 1 minute or 1 hour bars the script needs to follow the value of a 100 minute Bollinger upper band.
Housekeeping issues include:
1. Timeframe of the chart object being tracked must NOT shift if the object is moved or re defined in the chart window by changing the chart window time frame. The Script must track the object by it's definition at the time the script is enabled, and not visually. For example if I want to sell at the next touch of an upper 20 bar (100 minute) 2 deviation Bollinger band on a 5 minute chart and the spread is 1.3 pips. Then my sell order should be placed immediately when the first tick is within 1.3 pips of that upper band value. If I place the Script on a 5 minute chart and then shift the chart to 1 minute or 1 hour bars the script needs to follow the value of a 100 minute Bollinger upper band.
2. Must work with any number of numerals in quote value.
3. Values may be rounded to display the same as price values are displayed.
4. Chart must display English text below top left corner text already in place and describe what the script is doing. an Example would be " Auto Buy 0.25 lots at 1.09532 SL=1.09461 TP=1.10620 for 39 minutes. Spread=.00013"
5. Values for all activities should be calculated only one time at the beginning of each minute. The price should be compared against those values and action taken when prescribed immediately on each tick.
6. The action should only occur one time each time the Script is placed and enabled.
7. Must be able to attach to Horizontal Lines, Trend Lines, Moving Averages, Upper and Lower Bollinger Bands.
In the attached file I would like to have been able to buy on the lower blue Bollinger line or to sell on the upper blue Bollinger line or the gold moving average.
