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Calculation of Support/Resistance Zone EA function

MQL4 Experts Statistics and mathematics Trading robot/indicator debugging Strategy optimization Forex

Job finished

Execution time 7 days
Feedback from customer
Perfect, I was very satisfied. All done as requested, minimum bugs (if any), clear coding, good communication. Well done. Will surely use in future project
Feedback from employee
Very good person, Thank you.

Specification

Calculation of Support/Resistance Zone EA function

A function, which returns a nearest Support and Resitance ZONES for selected timeframes.
Calculation of zones should be done on swing max/min fractals.

Expected function:
Entry parameters:
  • timeframe, 1M, 5M, 15M, etc...   (a S/R zone will be calculated based on data fron this timeframe)
  • count of zones (returns a number of closes S/R zones details)
  • other necessary parameters to calculate S/R zone based on min/max fractals


Expected Output/Result
  • CURRENT-PRICE-DISTANCE, a distance from current price. Returns actual distance from this zones in pips. For support (SR-ZONE-HIGH) it will be a positive integer, for resistance (SR-ZONE-LOW) negative number.
  • timeframe - string, timeframe from which is a result calculated
  • SUPPORT-OR-RESISTANCE - string, is it output for support zone or resistance zone
  • SR-ZONE-LOW = lowest price of formed zone
  • SR-ZONE-HIGH = highest price of formed zone
  • SR-ZONE-WIDTH  (SR-ZONE-HIGH - SR-ZONE-LOW)
  • FORMED-BARS-AGO , info when it was formed. How many bars ago?
  • PRICE-IN-ZONE-FLAG, flag whether current price is withing actual zone



Based on this function, we should be able to draw a simple S/R zones on chart (for visual control) and use it within EA strategies.


A result of this project should be a simple EA which would demonstrate opening trades based on results obtained for a main function described above.A developer will provide also a full source code for this project at the end.

Details will be more specified in Functional Specification.


Thanks,

Tomas

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Project information

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40 - 100 USD
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from 1 to 7 day(s)