EA based upon ADX and Parabolic SAR

EA SCOPE OF WORK

The EA is to open and close positions automatically.

To be used mainly on an H4 chart, and be applicable to all symbols

OPENING A POSITION:

1.   1) ADX(14) rises from below, to above, 25

and

2.   2) Parabolic SAR (0.02, 0.2) confirms direction of trade with ADX (D-/D+) signal

STOP/LIMIT:

1.   1) Create a Trailing Stop based upon the standard Welles Wilder Parabolic Stop and Reverse (SAR) formula.

2.   2) No Limit – trade will either be closed upon hit of Trailing Stop or manually

MONEY MANAGEMENT:

1.   1) Risk is 1% of Account Balance

INPUT DIALOG:

1.   1) Change ADX Period (Default value = 14)

2.   2) Change ADX Level (Default value = 25)

3.   3) Change SAR acceleration factor increment step (Default value = 0.02)

4.   4) Change SAR acceleration factor max value (Default value = 0.2)

5.   5) Change Risk % (Default value = 1)

6.   6) Change Risk Calculation (Default value = Account Balance [2 options of Account Balance and Account Equity])    

NOTES:

1.   1) It is to be MT4 compatible.

2.   2) A long position will only be opened if current price is greater than the SAR value

3.   3) A short position will only be opened if current price is less than the SAR value

4.   4) Position can be opened if Opening Criteria (SAR value) are satisfied during a candle

TERMS AND CONDITIONS

1.   1) I reserve the right to disregard any or all bids

2.   2) Source code is to be delivered with the final product

Any questions, please feel free ask.

Thank you and wash your hands!

Mashie