All orders
Rules
Job finished
Specification
Desired outcome:
As a result of our collaboration I want to have at the end:
- Functional EA for MT4
- Source code for the EA for MT4
- Indicators that are used in EA being drawn on the chart for MT4
- Source code of the indicators for MT4
Other add-ons expected from you as developer:
- Handling of simple errors
- Handling of reconnections etc….
- Your suggestions
Description of the EA I want to have.
General assumptions:
For the calculation of indicators I don't want to rely on the MT4 build in indicators. I want to have my own indicators to be programmed and drawn at the bottom (other sections below price) of the chart. The indicators I use in this EA are versions of Relative Strength Index (hereinafter RSI) and MACD (hereinafter MACD) but as I stated above I want these indicators to be programmed based on my description. All the calculations of indicators are mathematically only adding, substracting, dividing, multiplying and some simple moving averages well known from web and will be provided based on agreement.
This EA is designed for EURUSD currency pair and trades long and short.
It is working only on closed bars, i.e. entry conditions for submitting orders are evaluated at the beginning of new bar considering values of RSI and MACD for last closed bar. Entry conditions are comparison of RSI values and MACD values of previous bar(s) and comparison of RSI values and MACD values to certain trashold (e.g. below 30 or above 70 or in certain window 40 to 60 or similar). Entry orders are limit orders based on mid-point of last bar (i.e (high+low)/2) +- PriceAdjustment.
Stop-loss order is based on percentages of input price (e.g. if entry price is 1.18 and STP value is 2% than STP order should be submitted at 1.1564 right after the entry order is fulfilled)
Exit orders are basically at the closing price of the entry bar (i.e. minute or two before closing of the bar)
Cancellation of orders: If entry order is not fulfilled within the next bar after entry conditions were evaluated OK (i.e. practically during the bar it was submitted) entry order has to be cancelled