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Platform: MT4
All communication, without exception must be conducted here on the MQL5 platform
This EA is to be an entry and exit alert and / or execution robot with a strict and effective risk/money management system, designed to prevent loss of capital and to manage profitable exits.
*** I will need to see two (2) samples of your past MT4
CHART DISPLAYS / DASHBOARDS
and
two (2) samples of your past MT4 work that demonstrates
proof of a professional appearance
that shows up on your work before you are selected to do the project !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
NOTE: This EA ineeds to be easy to understand, with clear descriptions in the user settings. This is vital for the user.
Code a high-level security key system -- that I can use -- into the finished product so it can sold online - without theft.
In the EA...
All pips are displayed and calculated at 1 decimal point (100.0 pips)
All percentages are displayed and calculated at 2 decimal points (100.00%)
All lots are displayed and calculated with 2 decimal points (100.00 Lots)
Five (5) Stop Loss Options (One Active at a time - default is ADR %)
1. ADR % Default set to 33.00%
2. Fixed (Manual) - Default set to 33.0 pips
3. ATR % Default set to 55.00%
4. Yesterday's LOD / HOD -- Distance Default set to 23.0 pips above High of Day for sells, 23.0 pips below Low of Day for Buys (sell trade cannot be entered above HOD, etc.)
The 23.0 pips above yesterday's high don't include the pips below, so let's say I enter at 5.2 pips below Yesterday's High of the Day (HOD), then the total stop loss in pips would be 28.2. ~ 28.2 would be incorrect.
5. Donchian Channel (Defaults of 20 and 55 periods) - if price reverses the direction of the trade and (option A) then crosses mid-line (option B) crosses the exterior line
** The Donchian Lines and Pivot Points with Zones (see image below) must be professional and visible on the MT4 charts.
Trailing Stop Options (This can be turned off by the user)
1 ONLY: Move stop to x pips above (sell) / below (buy) break even when n% of ADR is reached (defaults: x = 3.0 pips, n = 55.00%)
1 and 2 are used: After "Move Stop" has activated, trailing stop follows at distance of y pips ( default is y = 33.0 pips)
Risk and Money Management
* IMPORTANT: Position Sizing is used to by the EA to automatically determine the lots that are traded for each trade, based either on Equity or Account Balance (user chooses which)
In other words, when this EA is active, and a trade is open, the EA determines how many lots are entered. 0.02 lots, 0.10 lots, 5.20 lots, 3.1 lots, etc.
https://www.forexsignals.com/lot-size-calculator#use-tool
% of Money at Risk of Equity or Account Balance can never be more than 5.00% (all variables can be changed by the user)
NOTE: The user can choose the overall risk %, and when they determine the number of trades, the risk per trade is calculated by the EA
Overall risk % - Default = 1.50% = R %
No trade can be opened if risk (Equity or Account Balance - user chooses) will be greater than the overall risk %
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After 3 consecutive losses, overall risk changes by -0.05% (Example: R 1.50% changes to 1.45% NOTE: User cannot change this!
After 5 consecutive wins, overall risk changes by +0.05% (Example: R 1.50% changes to 1.55% and ....) NOTE: User cannot change this!
So, in this case, risk per trade drops from 0.50% to 0.48 if R = 1.50% (Again, this is only the result of one example of what the user might choose)
Risk per trade % - The user chooses this, for example, based on choosing the 1, 2, 3, 4, 5 or more open trades at the same time
default = 3 trades and therefor 0.33% per trade
(This feature >> risk per trade CANNOT be turned OFF)
The EA will calculate risk per trade, when the user inputs their desired maximum number of trades allowed to be open simultaneously. Default = 3
When the user or EA closes any of the 3* (default as an example) trades open, nothing changes with the other trades that are still open. No adjustments of the lot size - they remain the same.
Trade Entries
Alerts Only
Execution Only
Both Alerts and Executions
User can choose any, all or none of these 4 as option. When they choose more than one, the entry is made on whichever is hit by price FIRST.
Donchian (Entry and/or Alert)
1. Exterior Border Donchian Channel Breakout at 55 Periods (H4 Recommended Default) User can choose other, multiple time-frames at once
2. Exterior Border Donchian Channel Breakout at 20 Periods (H1 Recommended Default) User can choose other, multiple time-frames at once
3. Mid-line Donchian Channel at 55 Periods(H4 Recommended Default) User can choose other, multiple time-frames at once
4. Mid-line Donchian Channel at 20 Periods(H1 Recommended Default) User can choose other, multiple time-frames at once
Pivots - THE CODE IS COMPLETE EXCEPT INTEGRATION AND ADDITION OF POP-UPS, EMAIL ALERTS, AND A FULL 1 YEAR PIVOT ADDITION (see attached file below)
(**** Use the pivots code that I will give you!! Do not use any other code!! except to integrate into this EA)
FILE(S): WyattsPivots v. 2.1 (attached)
*** Use the code I will provide copy and paste and alter the new lines of code it to add a yearly pivot alert.
Entry and Exit Alerts
5. M2 Monthly - Buy Alert ONLY
6. M2 Weekly - Buy Alert ONLY
7. M2 Daily - Buy Alert ONLY
8. M3 Monthly - Sell Alert ONLY
9 M3 Weekly - Sell Alert ONLY
10. M3 Daily - Sell Alert ONLY
Possible-Reversal Warnings
11. M4 and R2 Daily- Exit Buy Take Profit Alert ONLY
12. M4 and R2 Weekly - Exit Buy Take Profit Alert ONLY
13 M4 and R2 Monthly - Exit Buy Take Profit Alert ONLY
14. M1 and S2 Daily - Exit Sell Take Profit Alert ONLY
15. M1 and S2 Weekly - Exit Sell and Take Profit Alert ONLY
16. M1 and S2 Monthly - Exit Sell and Take Profit Alert ONLY
17. M4 R2 M1 S2 Yearly - Warning Possible Reversal Alert ONLY
Scale-in Entries for Additional Profit (Entry and/or Alert)
The following rules OVERRIDE the number of trades that the user has selected to be open at the same time.
ATR Add On Trades and/or Alerts --- this feature can only be used when BOTH options of the trailing stop are on and active!!!
Alerts or Real Entries or Both >>
If the ATR of the time-frame in which the trade was entered is met, the EA makes an entry with 10.00% of the lot size entered for the active trade.
If the ATR of the time frame in which the trade was entered is met again,the EA makes an entry with 5.00% of the lot size ".
If the ATR of the time frame in which the trade was entered is met a third time, the EA makes an entry with 2.50% of the lot size.
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Push Notifications
Email
Pop-ups
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Finally, a display that can be at any of the four corners of the user's' monitor, that shows some of the settings and what is active currently.
(sample below) Users can choose to turn display on or off.
It must be professional in appearance.
ADVANCED TURTLE TRADERS MANAGEMENT TOOL - VERSION 1.00
Stop Loss (ON): 22% ADR | 21 Periods | Daily
Trailing Stop (ON): + 7.0 pips | 50% ADR
Risk Choice: Account Balance
Overall Risk %: 2.05%
Overall Risk: $356.45
Risk per Trade: 0.26%
Daily Max. Loss: $200.00
Weekly Max. Loss: $750.00
Chart Background: Black/White << Just a toggle button
*** I will create a template for the black background and a template for white. The colors of the dashboard, the Donchian lines, any ADR or ATR vissible lines, etc. must coordinate and match the colors used in the templates (for example the Moving Average Lines), in agreement with my choices and provided to you.
Pivots Look - on black (red and green like this - more visible samples to follow during negotiations)
ADDED CLARIFICATION:
I may need to clarify a few things in case they're not clear.
One thing is that the 23.0 pips above yesterday's high doesn't include the pips below, so let's say I enter at 5.2 pips below Yesterday's High of the Day (HOD), then the total stop loss in pips would be 28.2.
Another thing is that all pips need 1 decimal point 1.0 and all lot sizes 2 decimals 1.00.
Also, the following:
- Thorough testing to ensure that all requirements are met.
- An accompanying well commented source code of the created bot, both for your future reference and any modifications
that may be necessary.
- My name on the copyright - you can be credited as the developer, not the copyright owner.
- Once a month if needed revisions of the source code --- should there be any unforeseen bugs even after the completion of the job.
POP-UP WARNING FOR MANUAL ENTRIES
BEFORE you place this trade, take the time to ask yourself 4 questions:
1. Have I patiently waited for a high-probability trade or am I emotional and impulsive?
2. Am I buying at or below the Weekly or Monthly M2 Pivot and selling at or above the Weekly or Monthly M3 pivot?
3. If I am entering a trade now at OR near the Weekly or Monthly Central Pivot Point, is price inside the 20/55 Donchian Channel and moving in the correct direction?
4. Am I willing to wait 15 more minutes to see if price is going to go my way and not put my funds, that I've worked so hard for, in an immediate draw down?
Finally, because this EA will be for sale, it will need to be of professional quality in both coding and appearance.
*This specs document is subject to minor alterations regarding requirements, but only when both parties agree.