EA for trend continuation on EURUSD

MQL5 Experts

Job finished

Execution time 4 minutes

Specification

I am looking for someone who can help me write the code needed for an EA that is based on trading trend continuation.


The strategy is quite simple:

  • price creates an AB-leg (lets say bullish for now)

  • price creates another AB (AB2) in the same direction as the previous leg (up)

  • Price is now considered trending (2 legs in the same direction)

  • If the most recent leg is long enough (6pips i think is the best standard) it is good to be executed on

  • draw fib tool from B2 to A2

  • entry at 25% ( A + 0.25 x (B-A) )

  • SL 0.1 pip below A

  • TP at B


This model should create a strategy that is based on the probabilities of trend continuation and should always ensure a very positive risk to reward ratio of anywhere between 2.7-3, depending on the length of the AB leg. 


I have thought about, but not perfected certain filters, like a trend filter (2 AB’s in the same direction), session filter (only trade between 08.00-22.00) , and leg filter (minimum 6 pips) for the strategy, to ensure only the best setups will be executed.


From previous backtests done by a python code over real 1M OHCL data from EURUSD i believe (if the python backtester was made correct) this strategy should give hundreds of trades per month, with a pretty consistent win rate of 30-50%.

I would like to find out if this is true, first of all. 

And second, whether or not this strategy can be turned into a fully automated, fully functional, EA, that can execute for me whilst I do other work. 


If you think you can get it done, and interested in doing so, I would like to get in contact, to discuss further details. My email is : connstienen@gmail.com

I look forward to working with you.


Thanks in advance

Conn Stienen


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Budget
50 - 200 USD