Need an EA to autotrade when specific requirements are met based on 200/50 EMA and Stochastic indicators and uses ATR for setting SL and TP

MQL5 Experts Forex

Job finished

Execution time 1 day
Feedback from customer
I received most of what I asked for. The code was commented well so from there I was able to tweak to get it perfect...and learn a little in the process. Very good communication as well.

Specification

Hello. I'm trying to learn MQL5 to do this but have been hitting a wall getting it completed. So I'd like someone to code the EA for me and include the source files so I can learn from it...(to see what I'm doing wrong basically).

Inputs:

  1. Trading pair will be whatever is selected on the chart it's applied to.
  2. Lot size can be fixed or percentage. If fixed is selected, the default is 0.1. If percentage is selected the default is 1%. But either can be changed to suit the current needs.
  3. Max spread: default will be 5 but will not trade if the default spread is lower than the current brokerage amount.
  4. Hours for trading: default will be all hours, but can set a start and stop time if required.
  5. Days that trades can be opened: default will be Mon-Fri (Forex) but will have option to turn off individual days.
  6. Max orders: default will be 1 (only one trade open at a time) but can be changed to allow more.
  7. Stop Loss (SL): default will be 1.5x the Average True Range (ATR) when the trade is opened but can be changed as required.
  8. Take Profit (TP): default will be 1.5x the SL.
  9. Stochastic Range high (for shorts): default is 80 but can be adjusted as required.
  10. Stochastic Range low (for longs): default is 20 but can be adjusted as required.

Indicators used: all using the timeframe of the selected chart.

  • 200 period Exponential Moving Average (EMA)
  • 50 period Exponential Moving Average (EMA)
  • Stochastic: K length 14, D length 14, smoothing, 3, 3
  • Average True Range (ATR): 14 RMA smoothing

Requirements to open a long position:

  • No other orders currently open
  • Currently trading above both the 200 EMA and 50 EMA and 200 EMA is below the 50 EMA.
  • If, at any point, the 50 EMA moves below the 200 EMA, the process resets.
  • Price closes below the 50 EMA.
  • Both stochastic D and K are below the selected low range (default 20).
  • This doesn't have to be on the same candle that closed below the 50 EMA. We can wait until stochastic D and K cross below the selected low range unless 2 candles close below the 200 EMA or 50 EMA crosses below 200 EMA. If either of those happen then the process resets.
  • Stochastic K moves above stochastic D, but both are still below the selected low range. (Now trigger long position).
  • If either stochastic K or D move above the selected low range, the process resets.

Requirements to open a short position:

  • No other orders currently open
  • Currently trading below both the 200 EMA and 50 EMA and 200 EMA is above the 50 EMA.
  • If, at any point, the 50 EMA moves above the 200 EMA, the process resets.
  • Price closes above the 50 EMA.
  • Both stochastic D and K are above the selected high range (default 80).
  • This doesn't have to be on the same candle that closed above the 50 EMA. We can wait until stochastic D and K cross above the selected high range unless 2 candles close above the 200 EMA or 50 EMA crosses above 200 EMA. If either of those happen then the process resets.
  • Stochastic K moves below stochastic D, but both are still above the selected high range. (Now trigger short position).
  • If either stochastic K or D move below the selected high range, the process resets.

Info on the chart:

When the EA is running, please display the following in a box on the chart:

  • Current spread
  • Open order information
  • SL settings
  • TP settings
  • Possibly other normally included info

Attached is a screenshot of what a successfully place order would look like. Let me know any additional questions you may have.

Files:

PNG
ForexEntry.png
102.3 Kb

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Project information

Budget
50 - 80 USD
Deadline
from 2 to 5 day(s)