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January 10, 2024
To : THE DEVELOPER
RE: DEVELOPMENT OF AN MT4 EXPERT ADVISOR (EA) BASED ON THE INDICATORS MENTIONED BELOW WITH HEDGE AND CASCADE ORDERS
Wishing you a good day!
I want to order an EA for MT4 Platform that uses the following indicators for an entry order, like Moving Average, RSI, MACD and Bollinger Bands the specifications, details and parameters are further illustrated on the attached file.
For every entry order made by the EA based on the indicators mentioned, the system must have a corresponding hedge order system of up to six pending orders where positions are determined based on the inputed distance from the entry order and up to three cascade pending order for continuing trend that will be activated upon reaching the take profit of the entry order or from the hedge orders (further discussed and illustrated on the attached file).
For Hedge Position:
Hedge Pending Orders
#1 BUY (will Only activate upon reaching the inputed PIPS)
Input details:
PIPS (distance from Entry Order) ___ Example +10 PIPS
Lot Size ___
Stop Loss ___
Take Profit ___
Entry Order Example SELL -------------------------------------------------------------------------------------------------------------------- 0 PIPS
Input Details:
Lot Size ___ Hedge #2 SELL (will only be activated if the hedge #1 is activated and upon reaching the inputed PIPS)
Stop Loss ___ INPUT DETAILS:
Take Profit ___ PIPS (Distance from Entry Order) ___ Example -5PIPS
Lot Size ___
Stop Loss ___
Take Profit ___
*other hedge other are the same principle, where the following details are being inputed like PIPS distance from original order, lot size, stop loss and take profit during the set up of the EA.
Aside from this, for the continuing ordering trend I had included the there cascade ordering system that will be activated upon reaching either the TP of the entry order or from the hedge orders:
the basis of the cascade order #1 is the entry order, upon ordering of the system of the entry order the pending order of cascade order #1 is place and just waiting for the TP level to achieve, and the succeeding cascade order are based on the cascade order like cascade order #2 will be place under pending order when cascade order #1 is activated and cascade order #3 will be place under pending order when cascade order #2 is activated. but supposed it it is manually closed, it the entry order is closed the unactivad pending orders will expired, and the unactivated pending orders will also expired.
Illustration:
TP of cascade order #2 ----------------------------------------------(Activation of Cascade Order #3 Input: Lot Size ___ SL ___ TP ___ )
TP of cascade order #1 ---------------------------------------------- (Actvation of Cascade Order #2 Input: Lot Size ___ SL ___ TP ___)
TP of original entry or Hedge orders------------------------------- (Activation of Cascade Order #1 Input: Lot Size ___ SL ___ TP ___)
BUY (Entry Order) --------------------------------------------------------------------------------
TP of original entry or Hedge orders------------------------------- (Activation of Cascade Order #1 Input: Lot Size ___ SL ___ TP ___)
TP of cascade order #1 ---------------------------------------------- (Actvation of Cascade Order #2 Input: Lot Size ___ SL ___ TP ___)
TP of cascade order #2 ----------------------------------------------(Activation of Cascade Order #3 Input: Lot Size ___ SL ___ TP ___ )
For further illustration, it is being discussed and illustrated on the attached file.
Please also don't hesitate to message me for your further clarification.
Thank you very much.