Simple EA signaling entries based on MACD, with Target and SL determined by ATR

MQL4 Indicators Experts

Job finished

Execution time 22 hours
Feedback from employee
A great client and a friendly person too and i hope to wok together soon
Feedback from customer
Awesome work. Went beyond what I asked him and provided extra work Also very helpful whenever I had question for it. Will come back to him for other jobs should I have more in the future.

Specification

As the title of this job shows, Im looking to build an EA which generates Entry signals based on MACD and sets Targets and Stop Loss based on Average True Range.
I will need to be able to backtest and forward test the EA. I will need the source code. The EA's endgoal is to be able to trade automatically.


TIMEFRAME

The EA should be built initially on 1H candles, but as you will see below, it will call on the 4H MACD.


RULES OF ENTRY

The EA should generate an Entry when the 1H MACD flips sides (goes from negative to positive; or from positive to negative)  IF 4H MACD is on the same side at that time.

Examples:

-1h MACD flips positive AND 4H MACD at that moment is negative --> NO ENTRY.

-1h MACD flips negative AND 4h MACD at that moment is negative --> generate SHORT ENTRY. 


MACD Inputs: 

-Fast Length: 12

-Slow Length: 26

-Source: Close

-Signal smoothing: 9


SETTING TARGET AND STOP LOSS

Target: Target is set to 3 times ATR of previous 1H candle.

Stop Loss: Stop Loss is set to 2 times ATR of previous 1H candle.

ATR inputs: 

-Length: 14

-Smoothing: RMA


EXTRA ENTRIES

The EA should ignore additional entry signals if it is currently in a trade on a specific market. It stops generating entries while it has a trade running. Once current trade is closed (by hitting target or stoploss), then it can generate new entries.


SIZE OF THE TRADE

The EA should enter a trade with 5% of available balance.


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Project information

Budget
100+ USD