An expert advisor based on RSI, STO and MACD needed

1.  The idea of the trading system is as follows: market entries are performed when MACD, RSI and Stochastic K main signal lines are in the same current trend direction.

MACD: use attached file MACD_coloured.mq4 (12,26,9)

Stochastic K: Stochastic main (14 period, 3 slowing)

RSI: (7)

2.  Trend is determined based on each indicator.

An indicator shows an UP TREND when:

RSI is above 50

Stochastic K is above 50

i) MACD main above signal line and difference between the two is increasing

An indicator shows an DOWN TREND when:

RSI is below 50

Stochastic K is below 50

ii) MACD main below signal line and difference between the two is increasing

MACD is not in trend when:

iii) MACD main above signal line and difference between the two is decreasing

iv) MACD main below signal line and difference between the two is decreasing

As depicted by indicator MACD_coloured.mq4 :

i)  Bright green

ii) Bright Red

iii) Dark green

iv) Dark red

3.  Trading Signals:

Trading signals should only be acted upon at at the start of a new bar.

ENTRY:

Buy signal: All three indicators show an UP TREND in the previous bar

RSI UP TREND     &&     Stochastic K% UP TREND     &&     MACD UP TREND

RSI > 50

STO > 50

MACD Entry when previous bar is bright colour - ie BUY when previous bar is bright green

Sell signal: All three indicators show a DOWN TREND in the previous bar

RSI DOWN TREND       &&       Stochastic K% DOWN TREND       &&       MACD DOWN TREND

RSI < 50

STO < 50

MACD Entry when previous bar is bright colour - ie SELL when previous bar is bright red

EXIT

OP_BUY: The previous bar - RSI is NOT in an UP trend   OR Stochastic K% is NOT in an UP trend OR MACD is NOT in an up trend

RSI < 50

STO < 50

MACD when previous bar is not bright green

OP_SELL: the previous bar - RSI is NOT in a DOWN trend OR Stochastic K% is NOT in a DOWN trend OR MACD is not in a DOWN trend

RSI < 50

STO < 50

MACD when previous bar is not bright red

4.  Positions are closed :

- on trading signal at start of new bar.  All positions closed at market.

- on Calculated TP or Trailing SL at any time

5.  Positions are opened:

- on trading signal at start of a new bar

BUY positions opened at one point above the high of the previous bar.

SELL positions opened at one point below the low of the previous bar.

One position open at any time

Size of position in points The value is set in the InpSize input parameter.

6. Additional filters for opening a position:

No additional filters

7. Additional filters for closing a position:

No additional filters

Protective Orders:

10.  Close by Take Profit — during position opening, a Take Profit level is set at a fixed distance from the open price, specified in points. The value is determined by Average True Range: ATR(7) x 3

9. Close by Trailing Stop Loss

 is used to protect profit and minimise loss. Stop Loss is set by Average True Range: ATR(7) x 1.5. for:

OP_BUY from the low of the previous bar

OP_SELL from the high of the previous bar

11.  Position Management

SL and TP should always be managed by the EA, never by the server.

SL and TP can occur during any OnTick()

If the price continues to move in the profit direction, Stop Loss should be trailed at the given distance from the low of the previous bar. Stop Loss cannot be moved towards the loss direction, i.e. the Stop Loss value cannot be increased for OP_SELL

Exit trade due to TP and SL at any time in any OnTick()

If none of the protective orders (Take Profit or Stop Loss) triggers, the position should be closed by a trading signal at the start of a new bar. No other position exit methods are available.

12.  Add comments to describe function of each section - be descriptive of function and reason

13.  In price window:

A.  For any position opened, add line at that bar, at both TP (Blue)  and SL (red)  levels.

B.  Add line at each bar a SL is updated at the updated SL level

C.  Add a green dot above a bar if all three indicators show an UP trend - make it yellow if the previous bar does not have all three indicators show an up trend

D.  Add a red dot below bar if all three indicators show a DOWN trend - make it pink if the previous bar does not have all three indicators show a down trend

14.  Copyright will be transferred to me

15. C++ formatting preferred

16. Multiple screenshots of EA testing with Indicators clearly visible - so decision making methodology can be assessed and compared with demonstration testing.