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Rules
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Specification
EA to automatically open trades and manage running trades.
Open trades long or short, based upon a directional bias (the Trading Bias) from one or many other timeframe(s).
A Signal Candle is the first candle to close on the chart in the direction of the trading bias.
Trade entry is the breakout of the Signal Candle in the direction of the Trading Bias.
i.e. If Trading Bias is currently LONG, then the EA will look to enter LONG at the breakout of the first bullish candle to close (the Signal Candle) on the chart.
If that trade is stopped out EA to continue looking for a breakout of the most current Signal Candle.
The latest candle to close in the direction of the current Trading Bias is the most current Signal Candle.
If the Trading Bias changes throughout the day the EA must detect this and trade appropriately.
The EA to continue on until a number (defined) of trades are running and being managed for that particular day.
The EA to open new trades on the next day. Whilst managing all open trades from any previous days/weeks/months.
A.1 Trade Bias 1 - last candle closed direction of X time frame 1 ie. bullish or bearish close of the last H4, D1, Weekly candle.
A.2 Trade Bias 2 - last candle closed direction of X time frame. Must agree with A.1 or NONE.
A.3 Trade Bias 3 - last candle closed direction of X time frame. Must agree with A.1 and A.2 or NONE.
A.4 Trade Bias 4 - last candle closed direction of X time frame Must agree with A.1, A.2 and A.3 or NONE.
B.1 Trade Entry - A breakout of the current Signal Candle in the direction of the Trading BIAS. Enter a trade at the break of the low or high of the current Signal Candle, plus spread.
B.2 Max candle length - in pips, i.e. no trade if signal candle bigger than 50 pips.
B.3 Stop Loss - is the signal candle high or low.
B.4 Take Profit - is selected as an R or X pips NONE i.e. 12R, 500 pips or no fixed TP.
B.5 EA to draw on chart from the fib tool, the ENTRY, STOP-LOSS, 1R, 2R, 3R, 5R, 7R, 10R, 15R and 20R. (see image)
C.1 Risk - either % or fixed
C.2 Risk % per Trade - fractional percentage round down if needed i.e. 0.25% of current bal per trade.
C.3 Risk fixed - 0.001 lot - X
C.4 Trading Hours for EA - to trade 00-24 broker time.
C.5 Concurrent open trades - Yes/no. i.e. Yes, have many trades open in either direction at once.
C.6 Max open trades - 1-99.
C.7 Max open trades in last 24 hours, broker time. - 1-100, i.e 1, Only have one open trade per day running, other trades from previous days may be open.
D.1 Trail Step 1. at X R to breakeven. i.e. Close over 3R and then move to breakeven.
D.2 Trail Step 2. at X R move to X R. i.e. at 5R move SL to 2R.
D.3 Trail Step 3. at X R move to X R. i.e. at 7R move SL to 3R.
D.4 Trail Step 4. at X R move to X R.
D.5 Trail Step 5. at X R move to X R.
E. Other
E.1 - Broker Type - GKFX spreadbetting, ECN, MICRO etc.
E.2 - Developer to supply the UNCOMPILED code i.e. MQ4 file as well as compiled code.