All orders
Rules
Specification
The developer will develop the following EAs:
- 1x MetaTrader 5 EA:
Name: Grid and Time
Grid and Time will be developed for MetaTrader 5.
The developer will provide the source code as well.
The developer proposed a deadline of X days, the developer will deliver the EA on date: XXX.
1. The idea of the trading system is as follows:
The EA will start a sequence of buy and/or sell market orders grid or martingale styles at a specified starting time defined by the user. Once the grid/martingale will close the trades with a Take Profit, the EA will stop running or stop opening new trades.
Parameters:
Starting Time
Buy
Sell
Initial Lot Size (in lots)
Max Lot Size
Pip Step (in points)
Method of Increase
Average Take Profit (in points)
2. The logic of the EA is as follows:
Logic:
Starting time:
User must specify at what time the EA will open the 1 sttrade/s.
If BUY = YES, SELL = NO à 1 trade BUY direction
If BUY = NO, SELL = YES à 1 trade SELL direction
If BUY = YES, SELL = YES à 1 trade BUY direction, 1 trade SELL direction
Starting time must be in this format HH:MM:SS
HH stands for Hour
MM stands for Minutes
SS stands for Seconds.
The time will be the one of the broker’s server, so no need for adjustments.
Buy:
Yes/No: if "Yes", the EA will open buy market orders as soon as activated according to Starting time, if "No", the EA will not open buy market orders once activated according to Starting time.
Sell:
Yes/No: if "Yes", the EA will open sell market orders as soon as activated according to Starting time, if "No", the EA will not open sell market orders once activated according to Starting time.
Initial Lot Size:
It specifies the Initial Lot Size: minimum 0.01.
The max lot size will be the max allowed lot size by the broker depending on the instrument e.g. FX might have a max lost size whereas indexes might have a different max lot size. It is important that once the max lot size is reached, the EA will have to keep opening orders with the max lot size as well.
The max lot size will be specified by the user in the max lot size input.
Pip Step:
Distance between orders. e.g. The EA is set to Buy "Yes" and Sell "No", as soon as activated according to Starting time, it opens 1 buy position, if the market drops, the EA will open a position at X amount of distance(in points) from the first order and so on. The EA is set to Buy “Yes” and Sell “Yes”, as soon as activated according to Starting time, it opens 1 buy and 1 sell positions, if the market drops, it will open an additional buy (see take profit section as well).
Method of Increase:
I should be able to select 2 methods from a drop list menu. "Sum Increase" or "Multiplier".
Sum Increase: the EA will increase the lot size of the 1 storder by adding X amount of lots
e.g. first trade 0.01, sum increase set at 0.04, the second trade (in case the market goes against the first trade) should be 0.01 + 0.04 = 0.05 lots (to recap 1st trade 0.01, second trade in the grid 0.05). In case the market keeps going against the 1st and 2nd trades, the 3rd trade lot size should be 0.05 + 0.04 = 0.08.
Multiplier: the EA will increase the lot size of the 1st order by multiplying X amount of lots
e.g. 1st trade 0.01, multiplier set at 3, the 2nd trade (in case the market goes against the 1st trade) should be 0.01 * 3 = 0.03 lots (to recap 1st trade 0.01, 2nd trade in the grid 0.03). In case the market keeps going against the 1st and 2nd trades, the 3rd trade lot size should be 0.03 * 3 = 0.09.
Average Take Profit:
The EA must be able to set an average take profit in points.
e.g. if there are 3 buy trades opened (trade #1 0.01 lots, trade #2 0.02 lots, trade #3 0.03 lots), the EA will have to set an average take profit of X amount of points.
Once the take profit is reached, the EA will close the 3 trades.
e.g. if there are 3 sell trades opened (trade #1 0.01 lots, trade #2 0.02 lots, trade #3 0.03 lots), the EA will have to set an average take profit of X amount of points.
Once the take profit is reached, the EA will close the 3 trades.
*** I EXPECT THE DEVELOPER SUGGESTIONS FOR THE TAKE PROFIT***
If you have experience with grid and martingale systems, you understand what I am saying.
Scenario 1
The EA started at 10:23:42 am.
The EA opens 1 BUY trade (BUY = YES; SELL = NO), Trade #1.
The market drops by X points, the EA opens Trade #2.
The market drops by X points, the EA opens Trade #3.
The market rise, Average Take Profit of Trade #1, Trade #2, Trade #3 is 10 points.
The EA closes the trades.
The EA stops working.
Scenario 2
The EA started at 10:23:42 am.
The EA opens 1 SELL trade (BUY = NO; SELL = YES), Trade #1.
The market rises by X points, the EA opens Trade #2.
The market rises by X points, the EA opens Trade #3.
The market rises, Average Take Profit of Trade #1, Trade #2, Trade #3 is 10 points.
The EA closes the trades.
The EA stops working.
Scenario 3
The EA started at 10:23:42 am.
The EA opens 1 BUY trade 1 SELL trade (BUY = YES; SELL = YES), Trades #1 and #2.
The market drops by X points, the EA opens Trade #3 BUY.
The market drops by X points, the EA opens Trade #4 BUY.
The market rise, Average Take Profit of Trade #1, Trade #2, Trade #3 is 10 points.
The EA closes the trades.
The EA stops working.
Scenario 2
The EA started at 10:23:42 am.
The EA opens 1 SELL trade (BUY = NO; SELL = YES), Trade #1.
The market drops by X points, the EA opens Trade #2.
The market drops by X points, the EA opens Trade #3.
The market rise, Average Take Profit of Trade #1, Trade #2, Trade #3 is 10 points.
The EA closes the trades.
The EA stops working.