-The trend indicator
should be multi time frame, so I can choose to trade using a trend of
higher or lower time frame on the current chart.
In an uptrend ,only
buy signals should be produced, together with exit signals.
In a downtrend ,
only sell signals should be produced, together with a exits.
Only 2 indicators are used in this EA, First the trend indicator, then the other indicator
will be used like this;
Label the other
indicator as no-1 for buy entries, indicator no-2 for buy exit, indicator
no-3 for sell entries, indicator no-4 for sell exits. This is so coz
this is actually 1 indicator and so it will be used in 4 different
ways separately as mentioned above, for both buy and sell signals and
When trend is up,
buy signal will open trade, and trade will close when an opposing
signal will close, the same way for down trend and sell signals.
I should be able to
adjust all the indicators as I see fit.
The other EA Notes/
inclusions are as follows;
-Option of exit by
indicator or number of pips away from the open price, whichever
occurs first should close the trade. If number of pips is reached
before exit signal, trade should close.
Stop loss will have to
be placed by a predefined number of pips /adjustable as I see fir,
and the stop loss level aromatically placed with every opened trade.
So every trade will open with a predefined stop loss expressed as a
number of pips below opening price in a buy and above opening price
in a sell trade.
If the trade goes my way by a certain predefined amount of pips, Stop
loss level should move to break even +1 pip, or say 1pip above break
even [adjustable], so i will have to be able to adjust or change the
amount of pips move that will trigger stop loss move to break even +1.
Pip size should be
predefined as percentage of balance[ adjustable] or fixed pip
I should have the
option to disable each of the four entry-exit indicators
individually, in-case I want the EA to open sell trades only [ then I
would disable buy signal and its exit signal], or in case I want buy
trades only. [ then I would disable sell signal and its exit signal]
I should be able to use
the EA,ON SEVERAL DIFFERENT CHARTS OF THE SAME CURRENCY THE SAME
ACCOUNT. For example, I should be able to trade EURO-USD on 5m, and
on 1hr ,on 4hr of the same pair but using different chart openings ,
so the EA should be able to differentiate which trades opened on 5m,
or 1hr, or 4hr, so the trades are closed in order of their opening.