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Purpose: Develop an automated trading robot (Expert Advisor) within the MetaTrader 4 (MT4) environment that can scan and monitor multiple currency pairs in the forex market, utilizing a user-friendly performance dashboard to optimize trading efficiency and effectiveness. The robot will execute trades based on integrated trading signals from various indicators and analysis systems.
Basic Functions of the Robot:
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Scanner Dashboard:
- Create a multi-tiered dashboard through a user-friendly graphical interface, allowing users to swiftly monitor different currency pairs.
- Display the status and trading signals of each currency pair in chart form, including information such as buy/sell signals, entry/exit price levels, stop-loss, and projected take-profit points.
- Update data in real-time and have an automated refresh capability to ensure accuracy.
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Trading Signals:
- Combine technical indicators like MA, RSI, MACD, and other analysis systems to identify potential buy/sell signals.
- Make trading decisions based on signals from the dashboard and market conditions.
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Trade Management:
- Automatically open and close trading positions based on signals and market conditions.
- Set stop-loss and projected take-profit points based on technical analysis and risk management.
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Signal Integration:
- Have the ability to integrate external trading signals through specific protocols.
- Process and apply signals from external sources into the decision-making process.
Technical Requirements:
- Use the MQl4 programming language to develop the robot.
- Ensure the source code is written in a clean, understandable, and maintainable manner.
- Optimize the source code for good performance and quick response times.
- Thoroughly test the robot on historical data and real trading environments to ensure stability and effectiveness.
Note: The above requirements provide a framework for automated trading through a robot based on signals from the dashboard and other signal sources. Ensure that the source code is secure and adheres to risk management rules when using the robot in real trading environments.