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Spezifikation
We need an Expert Advisor for MetaTrader 4.
It needs to be able to work on different time periods, currency pairs, and MADC indicator.
Bullet points
· It only opens one trade each time Macd Histogram change direction (+ to - or -to +).
· If a trade is close before Macd histogram change directions, because it meets take profit, it will not open a new trade until Macd histogram change direction and parameters are meet.
· It closes a trade when Macd Histogram change direction or by a stop loss.
· The actual bar needs to finish to be a certain trade signal.
Strategy
Opening positions
a. When Macd Histogram change from negative to positive or positive to negative.
b. In order it to be a positive trade signal the bar needs to finish.
c. It will open a trade in the direction of Macd Histogram (positive long and negative short).
d. It will only open one trade each time Macd Histogram change direction, if the trade meet objective it will wait until Macd Histogram change direction again.
e. The Macd histogram change direction must be in the trading hours and minutes.
f. If Macd Histogram level is set, Macd histogram will need to cross this line and finish the actual bar in order to be a positive trade signal.
There are two types of entries; at closing price of the bar or chosen distance from the closing price of the bar.
1. At closing price of the bar: it will open a limit order with the closing price of the previous bar.
2. “Open order win” parameter. Chosen distance from the closing price of the bar: limit order is set up XX (defined points on expert properties) points opposite the direction of the trade.
Closing positions
a. When Macd Histogram change from negative to positive or positive to negative.
b. In order it to be a positive trade signal the bar needs to finish.
c. It can close a position after hours if the conditions are met.
There are three options for closing trade; when Macd Histogram change direction, stop loss or trailing stop loss.
1. Macd Histogram change direction and is confirmed by finishing a Bar on Macd Histogram change direction: it creates a market order.
2. Stop loss, if conditions of pint 1 are meet before stop loss it must close position as option 1.
3. Trailing stop is set. Same as point number 2.
Pending orders removing
When Macd histogram change direction limit orders need to be close. Open orders may not meet, they need to be close when Macd histogram has change direction.
Input Parameters
§ Lot: *****
§ Increment lot: if 0%, lot will be always what is defined. If above 0% it will be use in the following formula, “lot x (increment of balance) x increment lot” equals new lot to be use. Increment of balance is “Latest balance ÷ previous balance”.
§ Take profit: In points, if 0, when the Macd Histogram change directions
§ Stop loss: In points, if 0, when the Macd Histogram change directions
§ Trailing Stop: in points from profit
§ Start Hour: when robot starts to work
§ Start Min: when robot starts to work
§ End Hour: No open order is set, only closing trades after this time
§ End Min: No open order is set, only closing trades after this time
§ Macd Histogram Level entry: the value of the histogram, it is shown as an absolute number, but in short trades it will be negative
§ Macd Histogram Level close: this level will be use when closing trades. The value of the histogram, it is shown as an absolute number, but in short trades it will be negative
§ Fast EMA period: 12 (by default)
§ Slow EMA period: 26 (by default)
§ MACD SMA: 9 (by default)
§ Open order win: if 0, the closing price of the bar that confirms change direction. If other value, XX points opposite the direction of the trade from the closing price of the bar that confirms change direction.
Example 1
Parameters
§ Lot: 0.1
§ Increment lot: 50%
§ Take profit: 75
§ Stop loss: 0
§ Trailing Stop: 0
§ Start Hour: 07:00
§ Start Min: 00:30
§ End Hour: 15:00
§ End Min: 00:00
§ Macd Histogram Level entry: 20
§ Macd Histogram Level close: 0
§ Fast EMA period: 12
§ Slow EMA period: 26
§ MACD SMA: 9
§ Open order win: 0
1. Macd histogram breaks positive after being in negative (It happens after Start Hour 07:00).
2. Macd histogram breaks Level entry and finish above.
3. It finishes above entry level line, it triggers an open order at closing price of the bar, price 1.1537, for 0.1 lots X “0.1 x (increment of the deposit) x increment lot @ 50%”.
4. Open order is meet and a trade is open. Price goes to 1.1548, as take profit is meet, it triggers a “market order”, position is close with profit. Macd histogram still above entry lever line and there is no trade open, it doesn’t open any more open order. It will only open one single open order each time macd histogram enters into a new direction.
5. Macd histograms breaks negative after being in positive.
6. Macd histogram breaks Level entry, and finish below.
7. It finishes below entry level line, it triggers an open order at closing price of the bar, price 1.1519 X “0.1 x (increment of the deposit) x increment lot @ 50%”.
8. Open order is meet and a trade is open. Price goes to 1.1455, as take profit is meet, it triggers a “market order”, position is close with profit. Macd histogram still below entry lever line and there is no trade open, it doesn’t open any more open order or trades. It will only open one single open order each time macd histogram enters into a new direction.
Example 2
Parameters
§ Lot: 0.1
§ Increment lot: 50%
§ Take profit: 0
§ Stop loss: 0
§ Trailing Stop: 0
§ Start Hour: 07:00
§ Start Min: 00:30
§ End Hour: 15:00
§ End Min: 00:00
§ Macd Histogram Level entry: 0
§ Macd Histogram Level close: 0
§ Fast EMA period: 12
§ Slow EMA period: 26
§ MACD SMA: 9
§ Open order win: 30
1. Macd histogram breaks positive after being in negative (It happens after Start Hour 07:00).
2. Bar finish and Macd histogram end on positive, it confirms direction change. Open order is set, as “open order” parameter is set at 30, it means; (closing price 1.15270 – 30 = 1.15240). Open order at 1.15240 is met and trade is open.
3. Macd histogram breaks into negative from positive and finish on negative, it confirms direction change.
4. A market order is executed to close the buy trade, it trigged at closing price 1.15280. it generates a profit of 40 points. (no spread or market order is taken in account for this example)
5. Open order is set with an open order win of 30, closing price of the bar at 1.15280 + 30 = 1.15310. Look that as this is a sell order the “open order win” needs to be sum. It looks like open order is meet and a sell trade is on.
6. Macd histogram breaks positive and change direction is confirm as bar finish. This is happening after “end hour”, so the robot will only be executing market orders and not open orders.
7. Market order is executed at closing price of 1.14750 giving a profit of 560 points (56 pips).
