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I need a simple EA based on Zig Zag and 2MA Cross.
See images*
White Circle: Zig Zag Indicator
Orange Arrow: 2MA Cross
EA logic to take trades:
When the 2MA cross appears on the screen, the EA must look back X bars to see if there is any Zig Zag signal.
TP1: When opposite signal appears, but only after xxx pips
TP2: If a new High/Low is created, calculate the pips between the entry and the new High/Low, and move the SL to the X percent of the pips already made.
EX: Let's say that there are 50 pips between entry and the new High/Low and I set the 50 procent (25 pips) take profit. Meaning if the market goes in the opposite direction and hit 25 pips the trade is closed at +25 pips. If I set 30% and the market goes wrong the Tp will be at 15 pips.
If I set 70% and the market goes wrong the Tp will be at 35 pips, etc.
TP3: Take the profit by pips.
SL: When the previous Zig Zag is hit - or by pips.
The EA must paint an arrow for the previous signals (like indicator).
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The EA must have the all the settings from both of the indicators.
#Magic Number
# Daily Profit
#Breakeven
#Numbers of Open Trades
Code for the Zigzag: https://www.mql5.com/en/code/10650
I use only the "both zigzag". (indicator_color3 DarkOrange // Both zigzags)
I think the Zigzag signals is painted after 2 closed candles. If you have a better idea for the zigzag, I want to hear it!