MT4 Expert Advisor Auto-Trading Specifications
The EA will enter trades based on a combination of selected indicators. The list of the fallowing indicators will be listed below. Must be work with VAR and ECN accounts.
Each indicator will have standard parameters available to modify in the inputs window. Example. Moving average: “period”, “ma method”, “apply to” can be modified.
**EA must verify a minimum of 3 out of 7 indicator's criteria suggesting a BUY or SELL at the same time to initiate a market trade order.**
Trade Order Execution (BUY or SELL)
The EA will monitor charts selected (M15-timeframe) and scanning for BUY and SELL opportunities using the list of indicators found below.
· A 'Market Execution' trade order to BUY or SELL will be triggered if three (3) or more indicators enter a BUY or SELL zone simultaneously. Then and ONLY then will a trade order be executed at the market price.
· Example; EA applied to analyze EUR/USD chart (Timeframe: M15):
1. RSI reading under the 30 line;
2. Bollinger Band crossed the lower band; and
3. Stochastic Oscillator reading under 20 line
If these parameters are 'True' and occur simultaneously, initiate a BUY order.
(apply money management inputs below).
Money Management Inputs
Ability to modify and input “trade risk” and “stop loss”. Calculate Position Size in lots and populate trade order set-up
Position Size (lots) =
[Account Balance ($) * Trade Risk (%)] / [Stop Loss (pips) * (0.10/pair exchange rate)]
· Input Account Balance
· Input Trade Risk = 5%
· Input Stop Loss = 30 pips
· Input Take Profit = 90 pips
· Input currency exchange rate
Indicators & BUY/SELL criteria
1. stochastic oscillator - readings over 80-line SELL and readings under 20-line BUY
2. commodity channel index - readings over 100-line SELL and readings under 100-line BUY
3. MACD - turns up from below zero it is considered bullish BUY and when it turns down from above zero it is considered bearish SELL.
4. parabolic SAR- dot is placed below the price when the trend of the asset is upward BUY, and while a dot is placed above the price when the trend is downward SELL.
5. moving average - price above moving average BUY. and when price below moving average SELL.
6. Bollinger band - SELL position when the upper band is hit, and BUY position when the lower band is hit.
7. RSI - readings over 70-line SELL and readings under 30-line BUY.
1. Must be able to back-test and demo account test the EA.
2. When a trade position is opened, send email notification to notify of market entry. Example;
· BUY EUR/USD @ 1.1200
· Stop Loss: 1.1170
· Take Profit: 1.1290
3. Max trades: No more than four (4) open trades at one time. No more than three (3) trades in one 24-hour period.
4. MQL4 source code required upon job completion.
5. Close all position 10-15 minutes before market close every Friday.
If you have experience doing something like this combination of indicators (a portion of a group), please contact me so we can dig a little
Your efforts will be compensated generously!