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Specification
Below are details of what I require. If anyone can assist please let me know.
Thank you
Trading Robot and indicator requirements.
To be able to run on a live account as well as a demo account.
To be able to work on all time frames.
To be able to switch from A) trader to B) indicator only.
It should place green arrows pointing up for a buy trade and red arrows pointing down for a sell trade. Arrows appear on both trader and indicator when parameters are met regardless of which one you are using A or B.
I would also like to show one arrow to open a trade and another close icon to highlight a close trade at their respective price points.
A trading clock, that can be set to trade at certain times and days.
i.e. Default Monday to Friday. (07.00 to 16.00)
Also, I would like the ability to set trading open and close times as well as to select the trading days that I require individually.
An icon of a green clock face to highlight open times and a red clock face for closed times.
The option to change lot sizes were price per pip is also amended automatically.
I.e. 0.10 pence for a micro lot, £1.00 for a mini and £10.00 for a standard.
Default £0.10 micro lot.
I would also like the option to be able to change these parameters and save settings for all the above.
An Alarm that sounds if trade goes in the opposite direction. Plus, a warning box that pops up on the left-hand side of the screen. (So, I can determine which trade screen the alarm applies too.)
The alarm turns itself off and the warning box is removed automatically, when trade corrects itself or if trade is closed manually or otherwise.
I would also like an arrow in the top right-hand corner that automatically changes its direction (up/down/side) and colour (green/red/orange). This is to indicate the current trade that is in progress. Up and green is a buy and down and red is a sell. Orange means no current trade is in progress. This is based on the instructions from all the indicators and or from a manually placed trade.
This is called the trade arrow.
It should also have the following indicators.
Three Adaptive Moving Average lines. (AMA)
Parabolic SAR indicator. (SAR)
Average True Range Indicator. (ATR)
Average Directional index. (ADX)
Moving Average Lines .
A) The Price (candle, bar or line) line crosses over the green AMA line, this is the first part of a buy signal. I.e. green candlestick above green AMA line for a buy signal and a red candlestick below green AMA line for a sell signal.
If on a buy trade and the candle stick turns red and it crosses under the red AMA line, then trade is closed.
B) I need the green candle stick and the green AMA line to be above the red AMA line for a buy trade and a red candle stick and the green AMA line to be below the red AMA line for a sell trade.
C)The green AMA line needs to be above the white AMA line for a buy trade.
Also, the green AMA line needs to be below the white AMA line for a sell trade.
Obviously, it will also need the following.
Three Adaptive Moving Average lines with the following default parameters.
The first AMA line is green in colour with parameters of (3,2,30).
Second AMA line is red in colour with parameters of (30,2,30).
Third AMA line is white in colour with parameters of (200,2,30).
I would also like the option to be able to change these parameters and save settings. Furthermore,
If price (green candle stick) and the Green AMA line crosses above the Red AMA line and the green AMA line is above the white AMA line with parabolic SAR dots beneath them than this is a buy trade.(Only buy trades above white AMA line).
Once all other conditions are met, as this is the opening trade then trade is executed. However, if this is used to close a previous trade than a simple cross under will suffice from price.
If price (red candle stick) and the Green AMA line crosses under the red AMA line and the green AMA line is beneath the white AMA line with parabolic SAR dots above them than this is a sell trade.(Only sell trades below white AMA line).
However, if this is an open trade then all conditions apply before execution of trade.
If this is used to close a previous trade than a simple cross over will suffice from price.
Example) A buy trade is closed with a sell trade. Another sell trade is made after conformation from the other indicators. Once received it opens the trade.
Furthermore, if Price and or the green AMA line crosses over/under (depending on trade type) the white AMA line during a trade, then it is not allowed to cross back(over/under) the white AMA line again. If it does so, then the trade is closed, and a new trade awaits conformation.
Also, if on a buy trade, price turns into a red candle stick and if it touches the red AMA line trade is also closed.
If on a sell trade, price turns into a green candle stick and if it touches the red AMA line trade is again closed.
The indicator then waits for new favourable trade signals and all conditions to be met before executing a new trade. However, it does not have to wait for a cross overs to start a trade. If all conditions are in place a trade is made.
I would also like the option to be able to change these parameters and save settings.
Parabolic SAR.
It should also have a Parabolic SAR indicator with dodge blue dots built in.
This should have default parameters of (0.02,0.20).
Thus, showing support and resistance levels.
Trade cannot be executed until said dots are in the right place. I.e.) A) underneath the GREEN AMA line for a buy and B) Above the RED AMA line for a sell. (min one dot).
During trade if price crosses over/under the green AMA line, which is in the opposite way to the current trade type and the opposing SAR dots appears above/below the opposing trades candlesticks than trade is closed.
Whereas, a sell trade with a green candlestick, which operate above the green AMA line. Showing the Parabolic SAR dot below the green candlesticks, then this trade is also closed.
I would also like the option to be able to change these parameters and save settings.
Average True Range Indicator .
With default parameters of (14). The ATR indicator carries out the following functions. (Defaults)
Sets A) Trailing stop loss line and B) a shrinking Take profit line.
When trade conditions and all parameters are met then a trade is executed, once executed the ATR places the trailing stop loss line and the shrinking take profit line.
On execution it takes the value reading from the ATR indicator and performs the following.
It determines how many decimal places the ATR is showing and removes one decimal place. Using this example ATR (14) 0.00349 here we have 5 decimal places and therefore we remove the last decimal place from our reading to four decimal places. However, if we have a reading of the ATR (14) 0.220 we have three decimal places and again we reduce by one decimal place from our reading.
For the trailing stop loss line (in this scenario), it reads the ATR decimal place value and removed it by one, it then takes that figure and multiplies it by 10,000 and then multiples that figure by 3. However, if we have a scenario and the reading of the ATR is ATR (14) 0.220 we have three decimal places and again we remove one decimal place. The general rule is that we remove one decimal place from the ATR reading.
It then takes that figure and multiplies by 10,000 and then again by 3.
This figure then becomes the number of pips in distance from the trades opening price point to the trailing stop loss line.
Example) ATR (14) 0.00349
0.0034 x 10000 = 34 x 3 = 104 pips.
For the shrinking take profit line, it performs the same equations based on the number of decimal places that the ATR is showing, but the final multiplication is multiplied by 1.5.
Example) ATR (14) 0.00349
0.0034 x 10000 = 34 x 1.5 = 51 pips.
A shrinking take profit line is much the same as a trailing stop, but in reverse.
Theory is if price moves in opposite direction to trade it follows and matches pip movement and thus the gap between trailing stop and the shrinking take profit gets smaller over time as price rises and falls.
Average Directional Index.
ADX (14) Blue Line, +D1 Green Line and the -D1 Red Line and with a Level of 30. (Default).
When the Blue ADX line is above the level 30 line then a trade is allowed.
When the Green ADX line is above the Red ADX line then this is a buy trade.
When the Red ADX line is above the Green ADX line then this is a sell trade.
Summary of conditions prior to a trade.
For a buy trade 1) We are trading within our trading time zones. 2)Price (Green candle stick) line needs to be greater than green AMA line. 3) The green AMA line needs to be over the red AMA line. 4) The Parabolic dots should be underneath said lines supporting trade direction. 5)The green AMA line needs to be above the white AMA line.
6) The Blue ADX line needs to be 30 or more.
When the Green ADX line is above the Red ADX line then this is for a buy trade.
Thus, these conditions will activate A) A buy trade and B) The trade arrow direction will be up and green in colour.
For a sell trade. 1) We are trading within our trading time zones. 2) Price (Red candle stick) line needs to be less than the green AMA line. 3) The green AMA line needs to be under the red AMA line. 4) The Parabolic dots should be above said lines supporting trade direction. 5)The green AMA line needs to be below the white AMA line.
6) The Blue ATR line needs to be greater than 30 or more.
When the Red ADX line is above the Green ADX line then this is for a sell trade.
Thus, these conditions will activate A) A sell trade and B) The trade arrow direction will be down and red in colour.
Furthermore, if none of the above is true than the trade arrow will point to the right and will be orange in colour.
Summary of conditions to close a trade.
These conditions can all also close a trade, it is simply a case of which one comes first.
A buy trade is closed by a sell trade and a sell trade is closed by a buy trade.
Other words, the green AMA line crosses back over or under the red AMA line.
Trade can also be closed by a simultaneous change in candlestick colour and the position of the parabolic SAR dots to the opposing trade conditions.
i.e.) a buy trade with a red candlestick, which operate below the green AMA line. Showing the Parabolic SAR dot above the red candlesticks, then this trade is closed.
Whereas, a sell trade with a green candlestick, which operate above the green AMA line. Showing the Parabolic SAR dot below the green candlesticks, then this trade is also closed.
If on a sell trade, price turns into a green candle stick and it touches the red AMA line trade is closed.
Trade is closed outside trading time zones.
Trade is closed when price line touches trailing stop loss lines.
Trade is also closed if price touches the shrinking take profit line.
Or it is manually closed.
A day in the life of trading indicator.
I open the MT5 trading platform to my FXTM broker and select the currency pairs I wish to trade or view.
I select My trading indicator and drop it onto the chart. A pop-up box appears and gives me a choice to select a) Default settings with a yes button or B) To amend them with other settings.
If I chose A) than trades operate in these parameters if I choose B) then there are TABS from times and days to Lot size and for each for indicator type mentioned above were their parameters can be amended and ok is pressed once complete.
Once this is complete, I am asked whether I choose A) Trader or B) Indicator. Once done I select the activation button.
If I choose A) Trader on a live account, this means that I am currently trading in a live environment and making trades on my live account. (Financially liable). Therefore, a pop up appears to confirm.
If using the trader version on the demo account, no pop up is necessary, and it runs as normal in the mock environment. I can therefore back and forward test the indicator on the demo account.
Or B) indicator which can show trade icons and all other icons on either account Demo or Live. (No financial obligation).