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Specification
I currently generate price targets for the EUR/USD market on an Excel spreadsheet based on 5 minute intervals.
The spreadsheet calculates 6 columns of potential target prices on a 5 min time period in advance.
The spacing of targets can be between 5 and 25 bars apart.
Requirement 1) is an MT4 EA Robot that imports the price target data columns into MT4 and plots them on a live 5 min chart, ideally directly from a live .xls file, but alternatively from a pre-saved .csv file.
Requirement 2) is an MT4 EA Robot that automatically executes short term, intraday trades based on the imported price targets.
Parameters:
The timing trigger to open a trade should be variable from 1 bar up to 12 bars before the next price target bar (based on 5min bars)
Trade direction should be based on the robot selecting the closest price target at the time the trade is placed (long if the closest target is above the current price, short if it is below)
The value of the trade per point should be user defined and variable
There needs be a user defined input box to enter the IG spread at the time (unless this can be automated from IG feed?!) If the spread exceeds the potential trade (EG difference between current and target) then no trade is triggered
The trigger to close a trade / take profit should be either a) price hitting the selected target price (on any subsequent bar) or b) the target 5 min price bar closing and the next bar opening
Stop loss settings should be user defined
Trailing stop settings should be user defined
The EA / Robot should allow for full back testing, strategy tester and optimization in real-time mode
Operating System: Windows 10 Pro, Version: 20H2
MT4 platform: IG MetaTrader 4 Terminal, Version: 4.00
Microsoft Excel for 365 MSO, Version: 2107