All orders
Rules
Job finished
Specification
System looks for price to cross above or below 4 moving averages, plus confirmation from Stochastic indicator.
Following use of the EA for backtesting, it will be necessary to finalize the EA to work on a real account, placing all of the necessary checks, standard handling of simple errors (requotes, invalid stops, etc).
System described
Price has to cross over the 21, 30 and 60 EMAs. Then the 5ema must follow after price and cross the 21, 30 and 60 EMAs by 1 pip. In addition the stochastic indicator should have a crossover in the direction of the price and 5ema for confirmation. The stochastic can crossover before the 5ema crosses over the other EMA’s by 1 pip or at the same time.
Entry
Once all these signals have been checked off on our checklist for entry we can place a market order with a 10 pip stop loss. See attached chart for example and clarity.
Exit
User input for fixed number of pips, plus a trailing stop option. Plus please propose your own favorite exit strategy if you have one.
Variables
Set defaults as above, but all the variables mentioned above should be capable of user input. EMAs, SL, TP, etc.
Trade size and money management
Fixed lot size + percent of account both included.
Market day and time, plus spread exclusion.
System capable of being switched on and off depending on day and time. Plus not trading if spread too wide.
IMPORTANT NOTE:
Chart time frame and indicator used should be completely flexible.
I will want the source code and will own the rights.
