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*** clarification I need this in MQL5 :) ***
I've been manually using a strategy to pretty good success, but like all normal people, I have to sleep sometimes and have a life, making me miss many entry/exit points. Time to automate it all!
The strategy is simple, really, and you may have seen it before. I use it on the 1 hour timeframe. 2 Exponential Moving Average (EMA) on close, one fast and one slow, crossover. You buy or sell. You exit when they crossover again. As a bonus, you have an Average Directional Moving Index (ADX) indicator that you use as a second rule to make the whole thing safer. The ADX gives you a second exit signal, and it prevents you from going in at the wrong time. I trade on many symbols at once.
Here's the rundown of the strategy, and what I'd need programmed.
The are 3 states to the trade. Buy, Sell, or Standby.
Entry point:
Fast EMA (12) + Slow EMA (36) + ADX (14) with a level at 40
If the Fast EMA crosses over the Slow EMA,then there is a potential trade. 2 things are now checked.
If The ADX level was over 40 and is now just about to cross under, like at 41, then there is no entry. There will be no entry until the next crossover. Usually these crossovers are unstable anyway.
If both EMAs are very close to each other, say withing 50 points (5 pips), it waits until the next bar close to go in. It keeps checking every bar until the signal is good, The ADX dips back under 40, or there's a new crossover.
Anything else is good, and a buy signal is sent and a trade is made. Same thing is the Fast EMA crosses under the Slow EMA. Check the ADX and the difference between EMAS, and if it's good, then a Sell trade is initiated.
Exit point:
A trade exits on 2 conditions. Either the EMAs crossover in the opposite direction, or the ADX went over the 40 level and back down under the 40 level.
Inputs and options:
Here's where we have fun! Even though my strategy uses static numbers because I've grown accustomed to them, why not have the liberty to modify some things and adapt to new conditions?
Both EMAs and ADX period and level.
Volume. I usually go for a percentage of my account balance, so the input would ideally be noted as a percentage
Timeframe. I trade on the 1 hour timeframe, but having the option to test it out on different timeframes could prove useful.
Multiple symbols. I need to be able to trade on multiple symbols simultaneously.
Optional take profit, stop loss and trailing stop, as points. All 0 by default as the main strategy doesn't use any of those. I've found that mainly the trailing stop was useful when i couldn't pay close attention to my trades.
ADX tolerance. As mentioned, I don't enter trades if the ADX is above 41 and headed downwards to 40. I eyeball it though. Maybe it should be 42. Or 40.5. That number should be modifiable.
Manual trades. Sometimes using the exit points mentioned I will get out of a trade that could have kept on going much longer and keep being profitable. This usually happens when the ADX is oscillating around the 40 level and can't make up its mind. I'd like the option to re-enter a trade manually and have the automated exit points still active on the manual trade.
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As a non-programmer, I assume all this is simple enough. I'm probably wrong and I may be asking for a very complicated thing. I'm using EMAs and ADX, very common things. But maybe the combination of it all makes it way more difficult than it is in my head. I set a variable budget because I know that 30$ won't cut it, and I hate negotiating, so I put a range in. Please be upfront about how much time programming this would take, and how actually difficult it is, and if you have suggestions to improve on it. I won't necessarily employ the cheapest programmer, but rather the one that shows me he's the best for the job.
Thank you!
