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Rules
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Specification
Name: Hello Otto Trade Bot
1. Summary of Trade Bot
a. I am looking for a bot that will trade based on EMA trend and Stochastic Oscillator line crosses. If 10 EMA crosses above 25 EMA, Buy. If 10 EMA crosses below 25 EMA, Sell. Enter trades based on the Stochastic K line crossing the D line. K crossing up through D when the EMAs are showing buy, enter a buy at market at the open of the candle following the cross. K crossing down through D when the EMAs are showing sell, enter a sell at market at the open of the candle following the cross. I would like the ability to define entry levels so that the bot does not take EVERY cross. Use the Directional Movement Index (DMI) as in indicator, DI+ rises above DI- for confirmed upward motion (during buys) and DI- rises above DI+ for confirmed downward motion (during sells). Sell when MAC/D falls below its signal line. Buy when MAC/D rises above its signal line. If MAC/D indicates overbought or oversold close the position (take profit).
Below you will find details on each setting that I am looking for.
2. Magic Number
a. Standard Magic Number – 420
3. Max Trades
a. Limit the number of trades the bot will take at once.
4. EMA
a. Use two EMAs to determine trend.
b. 10 > 25 = Buying
c. 10 < 25 = Selling
5. Stochastic Oscillator
a. Use Stoch to provide buy and sell signals at K and D line crosses.
b. K Line crosses up through D Line = Buy
c. K Line crosses down through D Line = Sell
6. Entry Levels
a. Only enter trades when the trading signals appear above or below certain levels on the Stoch. Using 40/60 for example. Could use oversold and overbought levels of 20/80. Could use 50/50.
b. K Line crosses up through D Line, below the 40 level = Buy
c. K Live crosses down through D line, above the 60 level = Sell
d. Open trades at, market price, on the open of the candle following the Stoch line cross.
7. Risk Settings – 3 Options to determine risk amount per trade.
a. Fixed $ Amount
b. Fixed % of Account
c. Fixed Lot Size
8. Stop Loss – 4 Options
a. Previous Swing – x pips from previous swing high/low
i. Buy use low
ii. Sell use high
b. Signal Candle – x pips from high/low of candle that closed and signaled the stoch line cross.
i. Buy use low
ii. Sell use high
c. Candle Count – Low/High of x candles back
i. Buy use low
ii. Sell use high
d. Fixed Pips – pips from entry
9. Take Profit – 3 Options
a. RR – Risk Reward – 1 would be 1x SL. 2 would be 2x SL. Etc.
b. Fixed Pips
c. MAC/D indicates overbought or oversold close the position (take profit).
10. Break Even – On/Off
a. Trigger – pips from entry
b. Lock In – pips to lock in with Stop Loss
11. Trailing Stop – On/Off
a. Trigger – pips from entry
b. Trail – pips to trail Stop Loss from price
c. Step – pips to trigger another trail
12. Auto Close at Overbought/Oversold Setting – On/Off
a. The idea here is an on/off setting where you can set Stoch levels to auto close at. You can use traditional overbought and oversold levels of 80 and 20 or change them. I will use 80 and 20 in the examples below.
b. Buy Ex – Let’s say we are in a buy. The Stoch lines just crossed upward, below the 40 level. The trade runs and both Stoch lines hit the 80 level. Auto close at the close of the candle following the 80 level being reached. This is assuming TP was not reached.
c. Sell Ex – Let’s say we are in a sell. The Stoch lines just crossed downward, above the 60 level. The trade runs and both Stoch lines hit the 20 level. Auto close at the close of the candle following the 80 level being reached. This is assuming TP was not reached.
13. Auto Close at opposite line cross – On/Off
a. If you are in a trade and TP has not been reached but the K line crosses the D line in the opposite direction, auto close the trade.
14. Run Times
a. I would like the ability to schedule up to four sessions for the bot to run.
b. Using broker time in MT
c. Individual On/Off settings for each session.
15. Plotting lines on the chart
a. Can you plot lines on the chart for the following things? And have the option to change colors in the inputs section?
b. Entry – White
c. Take Profit – Green
d. Stop Loss – Red
e. Trail Trigger – Light Blue
f. Break Even Trigger – Light Purple
16. Sound Effects
a. Can you add sound effects for the following things with on/off option?
b. Trade Opened – Mario coin
c. Take Profit Hit – Money counter machine
d. Stop Loss Hit – Sound of a DJ scratch