Keltner channel

MQL4 Experts

Job finished

Execution time 35 minutes
Feedback from customer
Although very busy!!! he is very efficient at getting the right work done

Specification

Hi programmers!

Please I need help with a strategy to an ea. I will do my best to outline the requirement below:

I want an ea based on the keltner channel. the conditions for trade are as follows.


BUY CONDITION:  

1. open buystop order (e.g. 1 lot) when price is x pips above keltner channel.

2. if trade is OP_Buy and in profit....close trade when price is x-pips below keltner channel and then place sellstop order immediately

3. if trade is OP_Buy and price is x-pips below keltner channel but trade is in negative, place double sellstop order (1 lot*2) without closing the negative trade. the aim is to hedge trade while working towards profit.

4. if  if trade is single OP_Buy and double Op-Sell but price go above keltner channel  by x-pips, trade is still not in profit open treble buystop (1 lot*2)......this cycle should continue till total trade is in profit. then close trades on next signal and start cycle all over again

5. In a situation where a profit target  is set and achieved, pause trade until new signal is generated. in case a trade is closed prematurely....do not place another trade till new signal appear

 

SELL CONDITION:

opposite of buy condition

 THE LOGIC IS SUCH THAT TRADES ARE TO BE CLOSED ONLY IN PROFIT WITH MARTINGALE HEDGE

MONEY MANAGEMENT:

Roy Jones ratio must be used to set MM such that lots are increased for every N increase in profit or vice versa

 

 

FOR THE PURPOSE OF OPTIMIZATION, THE FOLLOWING MUST BE DECLARED AS EXTERNAL VARIABLE 

keltner channel value;

stoploss (with option of true or false)

take profit;

trailstop;

 mm (with true or false option)

fixed lot

minimum and maximum lots 

spread +commission.

Do not let me know if you could be of Help.

Thank you 

 

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