All orders
Rules
Specification
I need a very simple EA which:
1- Should work on three indicators (Moving Average, Parabolic SAR, MACD and Fractals). The option to turn on/ off for these indicators should be available for the trader as per his strategy. Of course, if the trader wants to turn on one/ two/ three indicators, further options to determine the type/ values (I.e Parameter) should be asked by the EA.
2- The system works on top/ bottom (Fractals) and signal produced by the indicator either it be SMA, EMA, PSAR, MACD or combination of any two or three. A signal produced by an indicator means when it changes its stance (from buy to sell or vice versa).
3- When Fractals=on; MA=on; PSAR=off; MACD=off. Buy when a lower fractal appears and the price is already above MA or price just crosses at second candle after a lower fractal. (Of course a fractal is considered final after formation of two candles after it). The vice versa is true for placing sell orders.
4- When Fractals=on; MA=off; PSAR=on; MACD=off. Buy when a lower fractal appears and the price is already above PSAR or PSAR just appears at second candle after a lower fractal. The vice versa is true for placing sell orders.
5- When Fractals=on; MA=off; PSAR=off; MACD=on. Buy when a lower fractal appears and the MACD is already showing upward bars or buy signal or MACD just gives buy signal at second candle after a lower fractal. The vice versa is true for placing sell orders.
6- When Fractals=on; MA=on; PSAR=on; MACD=off. Buy when a lower fractal appears and the MA and PSAR are already showing buy signal. The vice versa is true for placing sell orders. The same mechanism should work for other combination of indicators.
7- When the indicator/ combination of indicators produces an opposite signal, the running trade shouldn’t be closed, instead, an opposite side trade of equal running lot should be placed to compensate the running trades in opening directions. Of course, another trade should also be placed as explained above. For example, if the price is above MA and 5 buy trades (each of lot size 1) are running and an upper fractal is formed and price suddenly crosses MA downwards, the EA should immediately place 1 sell order of lot size 5 to hedge the buy trades. On the other hand, it should also place a selling order (since a sell signal has also been generated by fractal and MA in this case) of lot size x should be placed. The lot sizes for these new trades are explained below.
