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Specification
'm looking for an EA to be developed that can achieve the below.
Expert Advisor will help manage an account where another EA using Martingale on Chart 1 has created a buy/sell trades in a direction that goes against the trend, and as a result the cumulative total value of the trades go into a negative profit, while the martingale continues to add more entries, and can blow the account. Your EA that you build will run on a second chart, within the same MT4 instance, and for this description, will call it the Manager.
The Manager should accept input parameters, and once met, will enter a hedging counter-trade in the opposite direction as the martingale trades, essentially freezing the negative amount of profit to remain at the same value. At the same time, the Expert Advisor will disable the primary EA from Chart 1 which will obviously prevent the EA on Chart 1 from making more martingale trades. (note: if you cannot do this, please do NOT bid on this project as it is non-negotiable)
The Manager will then use logic and indicators to determine when the counter-trade should be released (read from a text file), so that the negative profit can move toward a specified breakeven or take profit amount. The Manager will release the counter trade based on a number of Indicators that are to be read from the text file to identify trends that indicate the market changing direction. This text file is created by a separate app running on Windows, so doesn’t need to be coded. Once the counter hedging trade is closed, the Manager will enter a buy/sell stop trade and monitor the martingale trades again. Continuously, issuing a counter trade again if it meets criteria or reaches the buy/sell stop level, until eventually the trade is closed in breakeven or take profit. Alternately, the user can select to close all trades. The Manager will use similar principle to Trailing Stop Loss, as it recovers the losses, by setting the buy/sell stop trades as the Total Trades Value decreases toward 0 or TP.
The Manager should re-draw its own TP / BE line on the chart each time the counter trade is released. The manager should also calculate the value of the spread for the counter trade to be included in the break even or take profit.
Only once all trades are closed, the Manager should re-enable the primary Expert Advisor on Chart 1. The Manager should also show/indicate that the Main Expert Advisor has been disabled and/or that Martingale Management is in progress.
The Manager should also allow me to manually activate the manager, regardless of whether the Min, Max or Increments are hit.
A mockup/example of what the Manager could look like is attached in the Screenshot. More details on the calculations and EA are attached in the ZIP file, within the word document.
I am looking for this EA to be built quickly, and if you dont have availability or time, please dont select the job. Also; please read the requirements and fully understand what I am looking for. I do not have time to have multiple meetings if you struggle from the beginning to understand the requirements.
Note: I am non-negotiable on the following:
1. Time extensions
2. Disabling/enabling the already-running EA on Chart 1