EA Buy and Sell Based on Pivot Levels

MQL4 Experts

Job finished

Execution time 18 days
Feedback from customer
Very good job. He was able to understand the requirements. Patient and responsive.
Feedback from employee
Thank you so much, nice to work with you.

Specification

This is an simple Ea based on price action. I am testing this strategy... The EA will have 2 price level (Sell_Pivot_Level and Buy_Pivot_Level) and when price moves up above the Sell_Pivot_Level and then back down thru Sell_Pivot_Level, then the EA will sell at market.

When price moves down below the Buy_Pivot_Level and then back up thru the Buy_Pivot_Level, then the EA will buy at market. 

extern parameters

Lot size : 0.1 

Risk per trade : 5% (if 0, the use lot size)

Day Timing: 15:00 to 14:59 (This will define each day from 15:00 to 14:59.. this is used to calculate the buy and sell pivot levels)

Trading Hours: 18:00 to 22:59

Stop Loss (pips) : 5

Take Profit (pips) : 5

Trailing Stop (pips) : 2 (if 0 then EA just take close position when it hits Take Profit)

Break Even Starts (pips) : 5

Break Even Step (pips) : 1 

Sell_Pivot_Level : Open/High/Low/Close (default - open)

Buy_Pivot_Level : Open/High/Low/Close (default - open)

These two pivot levels are calculated based on the Open prices (depending on what was chosen in the above two parameters) of each price bar.

so these two pivot levels will be the same level at the start of the Day (define in Day Timing) and then with each new price bar, the two pivot levels will be updated. Each pivot level needs to be drawn on the chart (Red for Sell_Pivot_level, Blue for Buy_Pivot_Level).

When the Day is over, these two Pivot levels will be redrawn for the new Day.

 

*********************

Sell_Pivot_Level is equal to the highest "Open" (depend on extern parameter) price since Start of Day 15:00

Buy_Pivot_Level is equal to the lowest "Open" (depend on extern parameter) price since Start of Day 15:00



Previous_Day_High is equal to the Price of yesterdays High (15:00 to 14:59)

Previous_Day_Low is equal to the Price of yesterdays Low (15:00 to 14:59)



Current_Day_High is equal to the High price since Start of Day 15:00

Current_Day_Low is equal to the Low price since Start of Day 15:00



Sell_Pivot_Level and Buy_Pivot_Level will be updated at each new price bar from start of day.

Sell_Pivot_ Level and Buy_Pivot_Level will be reset at end of each day. 14:59

Previous_Day_High, Previous_Day_Low, Current_Day_High, Current_Day_Low will also be reset at end of each day. 14:59



Sell Entry

Current_Day_High < Previous_Day_High.
When price goes up above Sell_Pivot_Level and then come back down thru Sell_Pivot_Level, Sell at Market.


Buy Entry



Current_Day_Low > Previous_Day_Low.
When price goes down below Buy_Pivot_Level and the come back up thru Buy_Pivot_Level, Buy at Market.


Trailing Stop

Similar to the previous EA, this EA is to move the SL to Breakeven + 1 pip then the EA is to trail the trade's TP once it has hit Take Profits level. If Trailing Stop = 0, then EA just take profit without trailing. You can use the same trailing stop and the move SL to BE+1 pip when price hits AA pips like the previous EA.

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Project information

Budget
20 - 40 USD
Deadline
from 5 to 10 day(s)