Simple momentum multicurrency MQL4 EA

Experts

Specification

This simple EA tracks gain or loss of a number of currency pairs in a certain timeframe. It then buys or sells the currency pair with the biggest change in the direction of that change and eventually closes the position by means of a trailing stop (TS) and a take profit (TP). TS and TP are each set as a percentage of the number of pips of change in the 'tracking period'. The EA will be used on MBT (ECN/STP). The maximum number of open positions should be one.

Input parameters should include:

- the currency pairs to be followed

- the timeframe (M1, M5, M15, M30, H1, H4, D1)

- take profit level (expressed as a percentage of the number of pips the currency pair changed in the 'tracking period')

- stop loss level (expressed as a percentage of the number of pips the currency pair changed in the 'tracking period'). Please note, as MBT MT4 doesn't natively support trailing stops, pending stop orders will need to be recalculated and resent with a change in price.

- lot size 

 

EXAMPLE

Timeframe: H4; currency pairs to be followed EURUSD, GBPUSD, USDJPY, EURJPY, AUDUSD; TP 70%, TS 30%, lot size 1.0

Say the percentual change of GBPUSD in one H4 period is the greatest, to be precise, 0.9%, which equals, say, 150 pips. It's a loss. One lot of GBPUSD will then be opened short, with a TP of 150 * 0.7 = 105 pips, and a TS of 45 pips. From that moment no new positions can be opened until this current position is closed.

 

The EA should be able to keep track of positions, (pending) orders and connections in the face of crashes or restarts.

 

Please include a bid and delivery period when responding to this ad. 

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