.
Code is to be clearly commented.
The EA is to work in harmony with a Pivot based Fibonacci indicator we have (coder will be provided MQL4 files on job being assigned)
- EA will be run on all major pairs.
- magic numbers will be assigned to trades so our trade manager can manage them if needed
The EA will need to automatically take trades at certain zones of Support/Resistance given by the Pivot Fibonacci indicator.
within the extern settings we must be able to elect what levels are valid - ie levels 3 True, Level 4 True, Level 2 False etc (working of fib levels as per indicator provided)
Entry type 1 - (Price touch and retrace within zone) To be chosen as True False within extern
For example - When price breeches Pivot Fib Resistance Level 3 then retraces on this level Market order for SELL order is made
example 2 - when price breeches Pivot Fib Support Level 3 then retraces on this level Market order for BUY will be made
Entry type 2 - (Price formation within zone) To be chosen as True False within extern
when spinningtop or doji formation occures within approved retracement zone ie Pivot Fib Retracement level 4 issue sell Market order
vise versa for buy from support level.
Trade management -
Trailing stop @ Variable to be Set
Limit only X amount of trades per pair
Limit only total open trades at any one time.
Initial trade capital should be free margin/1000 ie IF free margin is $2500 use 2.5 LOTS
Time of day setting
trade certain day rules
trade certain time rules
Option to set Market Condition Filter
-Counter Trend trades - True False - Extern Settings
- Trend Trades - True False - Extern Settings
Trend is to be defined using TMA slop
UP TREND TMA (Above 0.40)
DOWN TREND TMA (Below -0.40)
Down Trend examples
IF market is down trending on the 4HR/DAILY Chart and counter trend trades is set to true and Trend trades Set to false EA should take BUY only trades.
IF market is down trending on the 4HR/DAILY Chart and counter trend trades is set to False and Trend trades Set to TRUE EA should take SELL only trades.
IF market is down trending on the 4HR/DAILY Chart and counter trend trades is set to TRUE and Trend trades Set to TRUE EA should take SELL OR BUY trades.
UP Trend examples
IF market is trending up on the 4HR/DAILY Chart and counter trend trades is set to true and Trend trades Set to false EA should take SELL only trades.
IF market is trending up on the 4HR/DAILY Chart and counter trend trades is set to False and Trend trades Set to TRUE EA should take BUY only trades.
IF market is up trending on the 4HR/DAILY Chart and counter trend trades is set to TRUE and Trend trades Set to TRUE EA should take SELL OR BUY trades.
Indy setup
-AnAlert when trade is taken and or when valid signal appears on INDY with push notifications
-indy is draw buy/sell arrow (one unique to fib)
- detailed trade comments to be used
- magic numbers to be used.
- unique number for trend and counter trend trades
-take screenshot of each trade taken
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