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Rules
Job finished
Specification
THE INDICATOR PROVIDES NO BUFFERS BUT DOES HAVE AN EVENT FUNCTION.
1. EA to buy and sell on the arrows of the indicator (Red or Green) with levels displayed on the screen
2. The Option of using the indicator's take profit (TP1/TP2/TP3) and stop loss levels for the EA (Force Close on Reverse Arrow).
3. The option to provide my own Take profit and Stop loss levels per trade (Force Close on Reverse Arrow).
4. The option for a stop loss, and the trade automatically close on a reverse signal.
CRITERIA TO OPEN A TRADE –
When selecting M1 Time Frame the EA should take confirmation from M15. If the trend does not match, the EA should not open the trade. If the trend matches EA to open a trade.
When selecting M5 Time Frame the EA should take confirmation from H1. . If the trend does not match, the EA should not open the trade. If the trend matches EA to open a trade.
When selecting M15 Time Frame the EA should take confirmation from H4. . If the trend does not match, the EA should not open the trade. If the trend matches EA to open a trade.
When selecting H1 Time Frame the EA should take confirmation from D1. . If the trend does not match, the EA should not open the trade. If the trend matches EA to open a trade.
The above step is most important.
It gives alerts for TP1, TP2, TP3 and SL with Arrows. TP Mode = Manual/Automatic and SL Mode = Manual/Automatic. These two should be separate. For example, if am setting TP as manual 100 points I should be able to select SL = Automatic. Similarly, the other way around. If I select Automatic TP, I should have an option to select TP1 OR TP2 OR TP3. Ofcourse there is only one SL. Most importantly, all trades should force Close on Reverse Arrow and new trade gets open.
Option to push the Automatic SL when set to TRUE by certain number of points. Suppose Automatic SL is 100, if I add 20 points to be pushed the SL set by EA is 120 points.
Similarly option to bring the TP target close by certain points. If the automatic TP is 100 and if I select Bring TP closer by points = 20, the TP is set to 80.
This is to avoid slippage situations.
EA Settings
Magic =
Confirm Higher Time Frame = TRUE/FALSE * If TRUE open trades based on higher TF comparison criteria. If FALSE open trades without higher TF confirmation.
Trade by = Risk % OR Fixed lot size OR Autolot
Risk % = *% of account balance
Fixed Lot Size =
Autolot size = *number starting from 0.01
Autolot Currency = *enter the currency value for the lotsize. Suppose Autolot is set as 0.01 and Autolot Currency is set as 1000, the EA will calculate trade lot size based on this.
Max Lot size = * EA will not open trades beyond this lot size
Max Spread = * EA only opens trades within this spread limit
Max open trades = *Maximum number of open trades at any given point
Trade Buy - *allow the adviser to buy.
Trade Sell - *allow the adviser to sell.
Hedge = TRUE/FALSE *allows the adviser to trade both directions, buy and sell. If off, only one trade direction. This cannot be set to TRUE when the user selects “Force close on Reverse Arrow” recovery option
TP Mode = Manual/Automatic
SL Mode = Manual/Automatic
Push SL Further = TRUE/FALSE
Push SL by points = *(Put the number of points)
Bring in TP closer = TRUE/FALSE
Bring TP closer by points = *(Put the number of points)
Recovery = Force close on Reverse Arrow = TRUE/FALSE
Start hour = *Trades for the day starts here
End hour = *Trades for the day ends here
Trade Friday = TRUE/FALSE
Trailing = TRUE/FALSE
Trail Start =
Trail Step =
Equity Protection = TRUE/FALSE
Close all trades when DD reaches = NO OR % of balance OR Currency *EA turned off and starts next day automatically
Close all trades when daily profit reaches = NO OR % of balance OR Currency *EA turned off and starts next day automatically
Stop EA when the overall profits Reach = NO OR % of balance OR Currency *EA turned off permanently.
