Hello requirements are as follows:
Need an EA developed that opens and closes a trade as follows
Open trade condition: Arrow appears on 30 min chart. Trade is placed in that direction once Japanese Candle closes above or below EMA 14 in direction of Arrow signal.
Close trade condition: Arrow appears in opposite direction on 5 min chart, trade is closed.
The EA then repeats this process, starts looking for Open Trade condition again on 30min chart and waits for close condition on 5 min chart.
30 min chart is only used for placing trades. 5 min chart is only used for closing trades of that exact same pair.
If another signal arrow appears in the same direction on 30min chart while a trade in the same direction is still open for that pair, another cannot be opened until the existing trade is closed as per the close trade condition.
On screen arrow buffer from colour tab on indicator. 0 up arrow. 1 down arrow, Signal Buffer To Use.jpg file attached gives example of this to make it very clear, have also put arrow next to buffer to further clarify this.
I'm not entirely sure how this would work but I imagine I would need to have say 30MIN EUR/USD on one chart with indicator and 5MIN EUR/USD on another chart with same indicator?
Must be able to set variable lot size.
Must have option to set stop loss based on pips value if needed.
Any comments on a better way to do this are also welcome :)