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MT4 indicator to monitoring the setup based on moving averages and opening manually position and with option to closing position automatically.
Use case/Functionalities:
1. I put on the chart panel. An example of a very good panel -> https://www.earnforex.com/metatrader-indicators/Position-Size-Calculator/
3. Program detects these averages and show list on particular tab in panel
Trend checking:
4. I check which averages should be taken into account to trend checking
5. For selected MA, the program checks two equations:
for SELL: MA1 <MA2 <MA3 <MA4 <MA5 <... or
for BUY: MA1> MA2> MA3> MA4> MA5> ...
6. On "Information" tab program showing information about trend on two timeframes: Current and specified in panel as parameter.
- information with colour = TREND bulding and TREND builded (SELL/BUY)
- We have to thinkg how to show "building" of trend. Builded trend is simple = when all MA meet the condition of the equation.
Position opening:
7. I check two MA which should be taken into account as a stop loss for BUY and SELL (two different)
8. I click button to open position (SELL / BUY)
- Price = current price
- SL = value of selected MA +/- spread
- TP = without, but position have to be closed based on crossing two averages from point 6th.
If this was BUY signal (crossing from down to up) then position have to be close when MA crossed from up to down. If this was SELL signal then vice versa.
- Lot = based on risk % from equity (risk as parameter) and SL.
Additional comments: