RSI MTF EA with hedging

MQL4 Experts

Job finished

Execution time 3 days
Feedback from customer
Great developer! He made my strategy much more better. You can feel He really wants makes the things in it's best way. Highly recommended. I am sure, this wasn't my last project with him. 5 stars!
Feedback from employee
Great customer! He always has clear ideas and makes me free of doing my best. Very comprehensive adn smart, It was a pleasure to work with. I hope to work again with him!

Specification

RSI 

period: 14

level BUY: 20

level SELL: 70


 

M1,M5,M15,M30,H1,H4 - all at the same time should be above above RSI SELL level or below RSI BUY level to open trade. I want to have possibility some of them disable in settings. 
For example I will try only M1,M5,m15 and in another set for example M30,H1,H4 and D1.

 

Distance or RSI Signal: Distance/RSI signal (if there is already opened trade and it's in loss we can open another one. There are two ways: 1. in some distance in pips or 2. with new RSI signal)

Distance of next trade: 10 pips (iw will work also as filter for RSI signal. If we open next trade by RSI signal there also has to be some minimum distance from previous trade)

Lot size: xx



 

Maximum concurent trades: 3 (maximum open trades in one direction)

 

 

Hedge: enable/disable (if enable, it opens reverse position in Hedge lot size). Also if first hedge trade is open it enable what we can call Smart Recovery System. SRS.

It means. After opening hedge positon we wait till first group of trades will not finished in profit. If market still go against us, we open another group

of trades in oriiginal rules but in Hedge multiplicator size and first trade of second group could be in minimum SRS distrance (pips). If we also reach maximum

concurent trades in this group of trades and hedge distance is also reached, open another hedge positon also with multiplicator size.

 

Hedge lot size: xx

Hedge distance: xx pips (distance between last trade from maximum concurrent trades and new hedge position)

Hedge multiplicator: 2

SRS distance: 100pips

 

 

basket profit/loss: enable/disable (if disable, use Standard SL&TP for each of trade separately)

 

basket profit: $xx

basket loss: $xx

 

Standard SL: xx pips

Standard TP: xx pips

 

Trailing SL (single or basket)

 

MTF MA filter: enable/disable

MTF MA: type,period, timeframe (If the price is on defined timeframe above MA, open only BUY RSI signals, below MA only SELL RSI signals ) If there is active SRS function than this rule is valid only for trades in opposite direction.

 

 

Magic No.

 

Comment: RSI 123

 

 

 

Example of SRS function:

 

We have normal lot size 0.01 and maximum concurent trades 3. We have minimum distance of next trade 10 pips.

Ok, there is a RSI signal for BUY (RSI below 20)and we open first trade, market goes against us, open 2th and 3th trade in minimum distance 10 & 10 pips.

If market still goes against us, after 10 pips open hedge position in size 0.02. At this moment we have 0.03 BUY positions and one SELL hedge position

0.02. It means, if market still goes agains us loss is increasing only from 0.01 difference and also if market retrace back we have 0.01 positive

difference for reaching our profit from BUY trades.

 

If market still goes against us and SRS distance 100 pips is reached. We wait for first RSI signal to open BUY in 0.02lot size from second group of trades. Market still

goes against us, oepn 2th and 3th 0.02lot size positions and after another 10 pips open hedge 0.04lots.

 

During SRS process we hold, in this example, our BUY positons till basket profit or loss is reached. But during this period we still can open trades

with SELL RSI signals because we are probably in long down trend and we can profit from SELL signals.


Also it could be helpful if there will be some infopanel on chart, for better visual backtesting, with information about each trade (profit/loss) on selected pair & cumulative profit/loss fromm all trades on this pair together.

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Project information

Budget
50 - 200 USD
Deadline
from 1 to 10 day(s)