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Rules
Job finished
Specification
Our firm is looking to create a GBP/USD + EUR/USD bot that trades on a 1H timeline, small gains and very minimal drawdown; 25%, 500:1 Leverage will be used. The bot will also target on average, four periods (4 hour hold time) or 0.18% gain on the trade (FX). No hedging via making trades in opposite direction.
The bot has to be on a VPS. It must connect to our MT5 account.
We need the same bot to then be able to trade Gold on a 4H timeframe by using the same parameters above. Target will be profit of 300 PIPS.
Ideally we would also like to be able to tell the bot what trend it should be aiming for (explained more below). This is why we need this to be hybrid; we ourselves will place larger trades when needed. We don’t want the bot to place more than 5 trades per instrument daily.
Bot will only make trades at 80% confidence. All criteria have to be taken into account to trade. The fundamentals to trade on all assets are below;
- Candlesticks; Gravestone is sell sign on 1 hour chart. Hammer is buy sign if shadow is 250 pips or more on 1 hour chart. Bullish engulfing (attached is a buy sign). Most concentration on bodies and not wicks. Trades should obviously be made on the NEXT candlestick.
- Supply and demand zone (Targeting liquidity).
- Fibonacci retracements. This might be tricky, we would love to be able to turn it (this fundamental) off and on. Buy at 23.6% level and short at 61.8% compared to previous week.
- RSI to be considered also, but little weighting. 80 RSI, sell, 30 RSI buy.
- Trendline to be taken into consideration. I’m not 100% on this, so the ability to turn this on and off is important.
FX specific:
- 2 Targets. Short and Long Term. 4 hour targets, 0.18% gain and 24 hour targets, 0.45% gain.
Gold Specific
- N/A
The bot HAS to take into account % of account risked. We don’t want the bot to trade beyond 1,900% of our margin (500:1). We want each position to risk no more than 0.1% of our portfolio. The bot will not make trades once the account reaches 1,900% margin.
WE will manually place larger trades and corrections. This bot should be simple to make. No need for news/event driven trades.
Naturally we want all the source code so we can make code adjustments down the line. Backtest of 6 months is ESSENTIAL.
