Specification
The Pyramid/Multiplier Utility EA needs to be developed as a tool that automatically detects active trades on a given chart, whether placed manually or by other EAs, and adds additional trades in the same direction when specific conditions are met. The EA should remain idle if no trades are detected.
Key functionality to be developed includes:
-
Trade Detection:
- Automatically detect all open trades for the current chart symbol, regardless of whether they were placed manually or by another EA.
- Use the trade direction (Buy or Sell) of the detected trades as the basis for additional trades.
-
Pyramiding Logic:
- Add trades in the same direction at configurable price intervals (distance between trades defined in points).
- Calculate the lot size for additional trades based on either:
- A fixed lot size.
- A multiplier of the lot size of the detected trade.
- Allow a user-defined limit on the maximum number of trades added.
-
Risk Management:
- Include the ability to:
- Apply trailing stops to secure profits as the price moves favorably.
- Move stop loss to breakeven when a specific profit level is reached.
- Close all trades on the chart when a total profit or loss threshold is met (in account currency).
- Include the ability to:
-
User Inputs:
- Parameters for step distance between trades, maximum trades, trailing stop levels, breakeven levels, profit target, and drawdown limits.
- Options to enable or disable pyramiding for Buy and Sell trades independently.
-
Compatibility:
- Ensure the EA works across any financial instrument and timeframe.
- Adapt to broker-specific conditions, such as minimum and maximum lot sizes, step size increments, and margin requirements.
-
Logging and Error Handling:
- Log all detected trades and the actions performed by the EA (e.g., new trades, trailing stop adjustments, closures).
- Handle errors gracefully, including insufficient margin, invalid lot size, and unsupported trade conditions.
The EA should be efficient, robust, and adhere to best practices in MQL5 development. This initial description outlines the core features and logic required; further details will be provided later to refine the implementation.
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Project information
Budget
30+ USD
For the developer
27
USD
Deadline
from 1 to 10 day(s)