Pending Order at Fibonacci Level with SuperTrend Indicator for Filter

MQL4 Asesores Expertos

Tarea técnica


*Step 1:  Create Auto Fibonacci Indicator*

- Identify yesterday's high and low
- Draw Fibonacci levels based on those points
- If the current trend downtrend (the SuperTrend indicator line is red) draw from yesterday's high to yesterday's low
- if the current trend is uptrend (the SuperTrend indicator line is green) draw di the Fibonacci from yesterday's low to yesterday's high.
- If current price breaks yesterday's high, wait for candle close, then redraw Fibonacci levels using yesterday's low and new high
- If current price breaks yesterday's low, wait for candle close, then redraw Fibonacci levels using yesterday's high and new low

*Step 2: SuperTrend Indicator*

- Use free SuperTrend indicator by Kivanc Ozbilgic for trading direction
https://www.mql5.com/en/market/product/125728?source=Site+Market+MT4+Indicator+Search+Rating006%3aSupertrend+by#!tab=overview

*EA Settings:*

- Indicators:
    - SuperTrend: used as trend filter
    - Fibonacci: used as reference for pending orders
- Trading Rules:
    - If SuperTrend is uptrend (green line), EA will pending buy limit at Fibonacci level 61.8. Take profit at Fibonacci level 50.0
    - If SuperTrend is downtrend (red line), EA will pending sell limit at Fibonacci level 61.8. Take profit at Fibonacci level 50.0. Stop loss at Fibonacci level 100
    - There will only be one pending order at the same price level
    - If the pending order has reached take profit or stop loss, there will be no pending order for that price level until the Fibonacci indicator changes to a new price level
-  Delete and make new pending order if the the Fibonacci indicator changes to new price

*Example:*

- If the pending buy limit order is at price 5.000 and has reached take profit, there will be no pending order for price 5.000 until the Fibonacci indicator changes to a new price level (e.g. 5.200)
- If SuperTrend is uptrend and Fibonacci indicator changes to a new price level (e.g. 5.200), EA will pending buy limit at the new price level

*Entry*
Options 1 (default):
- Entry level: default 61.8
- Take profit level: default 50.0
- Stop loss level: default 100

Option 2 :
- Entry level:  78.6
- Take profit level: 50.0
-  Stop loss level: 100

*Lot Size*
- Money management  : 2%
True/False
Default True

- Fix Lot :  0.01
True/False
Default False

*New Filter*
NPF Filter
- Delete order 1 hour before NPF
- Pending order 1 hour after NPF

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