All orders
Rules
Specification
First of all, I'm not sure if what I need will turn out to be an "Expert Advisor". Maybe it's just an external program that I need developed so that it can copy trades directly from Telegram-Signal groups into MetaTrader 4, which would be a must have, since I can't be seated 24/5 a week behind my desktop.
So what I need is a program, an Expert Advisor perhaps if that's what it takes, to scan the Telegram Signal Channels that I am following for messages such as these:
GOLD SELL now at 1796.50
SL 1818
TP 1755
In this case, the EA continually scans Telegram channels of my choosing and whenever a new message is posted, the EA will pick up on terms like these (it should understand that some signal channels call XAUUSD a different name, like GOLD) and see that the EA should place a SELL trade on GOLD (XAUUSD) with a StopLoss of 1818 and a TakeProfit of 1755.
But sometimes, channels all have their own specific way of signaling a trade. Sometimes it looks like this:
USDJPY-Long
Open Price: 110.12
SL: 109.92
TP (Minimum) 110.22
TP (Base) 110.32
TP (Maximum) 110.42
The EA should understand that this signal channel calls buy trades LONG and sell trades SHORT. It also comes with multiple TakeProfits, which all need to trigger the EA to place 3 trades in this case. The minimum, base and maximum take profit. Also, this is the only channel that actually gives those 3 takeprofits different type of names as most channels simply do it like so:
BUY USDJPY
Entry price 109.800
TP1 110.000 🎯 20 Pips
TP2 110.300 🎯 50 Pips
TP3 110.800 🎯 100 Pips
SL 109.500 ⛔️ 30 Pips
In this situation, the EA should recognize the word BUY and of course the symbol USDJPY. It should place a TP1, TP2 and TP3 all with the same StopLoss.
And sometimes, some channels will give "pending" orders such as these:
Instrument: GBPJPY
Order: SELL STOP
Entry price: 151.05
Stop Loss: 151.66
TP1: 150.10 (1.55R)
In this case the EA should understand that it's a SELL STOP pending order. The EA should simply be able to recognize multiple TakeProfits, StopLosses, different trading methods such as Buy, Sell, Buy Stop, Sell Stop, Buy Limit and Sell Limit.
And this all needs to be done instantly, because the moment you place a trade it alters the original Risk:Reward ratio, so the closer it is, to the original signal, the better.
I also think that the EA will probably need different scan settings for each channel, because not every channel words their signals the same way. Some channels are really sloppy and place the trade like this:
Xauusd sell now@ 1804- 1807
SL:1809
TP:1800/1794/1786
In this case, 3 TakeProfits are given, but it looks really sloppy. The EA should be able to see through this and understand 3 TakeProfits need to be placed.
The program will also have a menu where I can decide with which lot size a trade is placed, but preferably, I want the EA to place trades based on an incremental lotsize, meaning that it looks at the percentage I'm willing to risk per trade and then, based on the stoploss, calculates which lot size will need to be used. I think you can copy this mechanic from the free EarnForex.com Position Size Calculator for Forex and USD, but it doesn't seem to work for XAUUSD, so we`ll have to look into this how to make this as accurate as possible.
I also need the EA to look at the current spread of the symbol and either add or subtract this from the TakeProfit given, depending on the type of order. Buy orders, have "x" amount of spread subtracted from the TakeProfit, effectively lowering the TP threshold, while Sell orders have "x" amount of spread added to the TakeProfit value, effectively lowering the TP threshold.
What's also important is that the EA, when placing a trade, adds a comment to each of these trades and the comment will be different depending on from which channel it came. The comment will add the channel name so I can ultimately monitor perfectly which channels have the highest consistency in their promises of profitability.
There are more things that need programming like move the SL to the entry point when TP1 is hit and same if TP2 is hit move SL to TP1 when the trader send an update also the EA have to recognize about which orders the trader make an update…. But let's start with the beginning. If you have the skills to program the desired above, then it’s cool plus if you understand French ! I do need you to have experience in Telegram to MT4 programming though. This needs to be a perfectly working EA.p