Execution algo based on Momentum indicator

MQL5 Experts

Job finished

Execution time 44 days
Feedback from customer
Had a great experience working with Mohammed. He works so hard and so fast. He was able to leverage his experience to understand my project better and he speaks superb English.
Feedback from employee
Good client with clear communication and understanding of the project. It was a smooth collaboration overall.

Specification

Hello


I would like to create a execution algo to manage my trades after I have discretionary chose them. The parameters of the algo are as follows:


The entry is simple it would be: discretionary price I set myself + if MoM (Momentum) indicator is above or below specified level on a specific time frame I choose.

So for example, Long 3 ES at 6000 if MOM is above -100 on 1 hour timeframe.

Or conversely, Short 3 ES at 7000 if MOM is below 100 on 4 hour timeframe.



The exit is a bit more complicated. First of all I want to be able to sell the position in fragments based on different parameters.

First parameter price or percentage profit target. Example: exit 1 ES at 6200, or instead exit at 4% profit from entry prrice.

The second parameter is MOM stop. Example: exit remaining 2 ES if MOM falls below -150 on 2 hour timeframe.

The third parameter is price or percentage stop. Example: exit 3 ES if price falls below 5900 or if price falls 2% below entry price.

You can converse all these number and ifs for the short version.


This is it that's all the parameters for now.

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Project information

Budget
100 - 1000 USD
Deadline
from 30 to 60 day(s)