Range Detection Indicator and Trading EA development

MQL4 Experts

Job finished

Execution time 5 days
Feedback from customer
try very hard to fulfil all my requests, showing his great responsibllty
Feedback from employee
Great customer. Cooperative, good communication. I look forward to working with you again.

Specification

Hi all, i would like to seek your help to develop an MT4 indicator and EA.


A. Dual Range Detection Indicator 

Logic Summary 

The core function of this Indicator is to lock specific consolidation ranges (Range A and Range B) in the market.

1. Detection Mechanism

Detect Criteria (pause = true): A Range is formed and detected when the following two conditions are met simultaneously:

Size Requirement: The current bar's (The triggering large bar) size (High minus Low) must be greater than or equal to the minimum required points (minRange_A or minRange_B).

Inside Bar Requirement: The Open and Close prices of the next period_A or period_B bars must be completely contained within the High and Low of the triggering large bar .


After the close of last period_A or period_B, the Range A or Range B and will be detected


New detection: ANY bar breaks above the locked high boundary or below the locked low boundary. (i.e., close[i] > highA/B || close[i] < lowA/B) and the indicator will look at the two conditions again



2. The boundary values (Top/Bottom) :


Range A Top/Bottom: Set to the High and Low values (highA, lowA) of the specific large bar that initially triggered the locking condition.


Range B Top/Bottom: Set to the High and Low values (highB, lowB) of the specific large bar that initially triggered the locking condition.



B. Range detection trading EA

The EA needs to use iCustom to read the Dual Range Detection Indicator.

When the EA detects a new Range A, it should place a Buy Stop at the highest of the whole Range A (not Range A Top - the Low of the triggering large bar).

Stop loss: the bottom of Range A

Take profit: twice the height of Range A (Top − Bottom)

A Sell Stop is also required, with the logic reversed.

If neither the Buy Stop nor the Sell Stop is triggered, then when a new Range A is detected, the EA should update and re-place the Buy Stop, Sell Stop, stop loss, and take profit based on the latest Range A.


PLS PAY ATTENTION:

I tried to code myself by AI, and hire one of freelancer, but either way facing a same problem, there are a very long delay to get the signal at the indicator, so before you deciding taking this job, pls make sure you can handle the delay problem.




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Project information

Budget
30+ USD