CAPSTONE EA

CAPSTONE EA

We are in need of an experienced programmer that could help us create Forex Expert Advisor.

SPECIFIC REQUIREMENT: Draw two horizontal line at the high and low of the 6th and 7th candle from the day session line using the one hour chat.

ENTRY CONDITION ONE: The EA should wait for the break of the upper or lower horizontal line by 2 pips.

i.                    BUY ENTRY: If the break of the horizontal line is to the upside, the EA should enter a buy.

ii.                 SELL ENTRY: If the break of the horizontal line is to the downside, the EA should enter a sell.

ENTRY CONDITION TWO:

i.                    If a buy entry hits breakeven (20 pips) and does not reach the lower horizontal line (retests the upper horizontal line) EA should reenter a buy at 2 pips above the upper horizontal line.

ii.                 If a sell entry hits breakeven (20 pips) and does not reach the upper horizontal line (retests the lower horizontal line) EA should reenter a sell at 2 pips bellow the lower horizontal line.

MANAGING OPEN POSITION

i.                    Every entered trade should have 50 pips profit target.

ii.                 The stop loss for a buy entry should be at the lower horizontal line.(NB: if the gap between the two horizontal lines is less than 10 pips, the stop loss should then be 10 pips)

iii.               The stop loss for a sell entry should be at the upper horizontal line. . (NB: if the gap between the two horizontal lines is less than 10 pips, the stop loss should then be 10 pips).

iv.               If the trade reaches 20 pips in profit the EA should move the stop loss to breakeven.

v.                  If the trade reaches 35 pips in profit the EA should trail stop from 20 pips. When trade hits 35 pips in profit no new trade should be entered for that trading day.

vi.               EA should trail stop till final take profit 50 is hit.

FILTERS:    

i.                    Currency pair should be GBPUSD only.

ii.                 Maximum profit for a day should be 50 pips. If this target is reached EA should not enter any further trade for that day, except a trade that is already running.

iii.               All trades that did not hit the take profit by the end of the trading day should be left to continue into the next trading day and the next trading day activity continues as normal.

iv.               A buy and sell trade could run concurrently so far none has hit stop loss

v.                  Maximum daily drawdown is determined by 4 trades stopping in a trading day. Immediately this happens no more new trade entry for the day, but before this EA should continue to enter new trades.

vi.               LOT SIZE: lot size should be 5% of the balance.

vii.             The programmer interested to work with us should allow for tweaking of any of these specific requirements in the course of creating this EA without any extra cost.