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I need MQL4 EA for a forex expert advisor to trade on MT4 that uses a reversal strategy with the following conditions: only pairs that will enter are USDJPY, EURJPY, CADJPY, NZDJPY, AUDJPY, GBPJPY, CHFJPY.
Each pair can only be traded once a month. Will only enter the market on 1 hour timeframe.
Lot size = 1.0. Risk:reward ratio is 1:2.
Enter if there are at least 7 confirmations from the following signals: for the ConfirmReversalConditions function, add in that trade should only be executed if there are at least 7 confirmations: these confirmations include:
1) price hits a combination of a horizontal resistance/support level,
2) price hits zone where the closest top or trough are,
3) hits trendline resistance/support level,
4) a number 2 or 3 shows up (w3adr),
5) there is a major market pattern (head and shoulders, inverse head and shoulders, double top, double bottom, triple top, triple bottom, or any form of triangle, any wedge, any flags),
6) price hit or is close to hitting a level that either close to .000 or .500,
7) RSI price is at or above 70 (sell) & RSI price is at or below 30 (buy),
8) is hitting or close to fibonacci level,
9) if 21 MA and 8 EMA crosses downwards with 21 MA being above 8 EMA (sell) and if 21 MA and 8 EMA crosses going upwards with 21 MA being below 8 EMA (buy),
10) 200 MA is acting as dynamic support level (buy) & 200 MA is acting as dynamic resistance level (sell).
Then use ATR to measure the volatility and energy of pairs and then to confirm reversals.
Use ATR numbers to set take profit and stop loss levels.
Set take profit and stop loss levels closest to market structure.
DO NOT ENTER IF THERE IS NO JUSTIFIABLE PLACE TO PUT STOP LOSS.
Set large take profit and stop loss levels to give trade room to breathe and allow the move to take fold.
Look to find high probability inflection points of reversals in USDJPY, EURJPY, CADJPY, NZDJPY, AUDJPY, GBPJPY, CHFJPY.
Never be in more than 3 trades at any given moment. No more than more than 3 trades in a single trading day.
Close all trades 5 minutes before the end of the New York session every Friday.
Do not enter the market on any notable major holiday.
Exit trade if at least 5 confirmation signal change to the opposite side of trade.
* IF I'M TRADING, THEN I’LL ONLY TRADE JPY CROSSES
* & USE DXY, JXY & UJ TO GAUGE BEFORE ENTRY
* IF I'M TRADING CURRENCIES THEN I’LL FOCUS ON 4HR AND 1HR CHARTS
* FOCUS ON W & D TO SEE OVERALL TREND THEN DO A TOP DOWN ANALYSIS
* I WILL ENTER ON 1HR TIME FRAME
* IF I PLACE A TRADE, THEN I’LL NOT LOSE MORE THAN 2% OF MY ACCOUNT
* IF PRICE HITS A COMBO OF:
1. HORIZONTAL S/R LVL
2. ZONE
3. TRENDLINE S/R
4. # APPEARS
5. I SEE A MAJOR MARKET PATTERN
6. MAJOR LVL
* THEN I WILL USE:
1. RSI
2. FIB
3. PP
* TO CONFIRM THE REVERSAL
* I’LL USE:
1. MA CROSSOVER
2. 200MA
* TO CONFIRM THE TREND
* ATR WILL BE USED TO
* MEASURE VOLATILITY
* CALCULATE TP & SL LVLS
ENTRIE RULES:
- AT LEAST 7 CONFIRMATIONS
- NEVER ENTER @ RIGHT ABOVE/BELOW A HORIZONTAL S/R LVL IF I’M FOLLOWING A TREND - PRICE MUST BREAK PAST TO ENTER IF AROUND
- NEVER ENTER @ RIGHT ABOVE/BELOW A FIB LVL IF I’M FOLLOWING A TREND - PRICE MUST BREAK PAST TO ENTER IF AROUND THAT LVL
- WAIT UNTIL CANDLE CLOSES ON 1HR
- MUST COMPARE W/ PREVIOUS CANDLES TO SEE STRENGTH
- NEVER BE IN MORE THAN 3 OPEN TRADES @ THE SAME TIME
- NO MORE THAN 3 TRADES IN A SINGLE DAY
- NEVER ENTER RIGHT @ NEWS EVENT
- IF PRICE HITS A COMBO OF MY BASE CONFIRMATIONS:
1. HORIZONTAL S/R LVL
2. ZONE
3. TRENDLINE S/R
4. # APPEARS
5. MAJOR MARKET PATTERN
6. MAJOR/MINOR LVL
- I’LL BE TRADING FROM ROUND THE CLOCK & LOOKING @ POTENTIAL ENTRIES DUE TO THE PAIRS I TRADE MOVING IN THE ASIAN MARKETS
- I SHOULD HAVE @ LEAST 3 OF MY BASE CONFIRMATIONS BEFORE ENTERING
- NEVER ENTER RIGHT @ THE OPEN OF ANY SESSION; ENTER ONLY AFTER FLUX OF TRADERS HAS PASSED FROM START OF SESSION
- CLOSE ALL TRADES BEFORE WEEKEND STARTS
- ALWAYS CHECK ACTIVE TRADES BEFORE GOING TO BED
- MUST ALWAYS LOOK @ TRADINGVIEW BEFORE PLACING ORDER IN MT4
- DO NOT GO LONG IF I SEE A BEARISH CANDLESTICK PATTERN & DO NOT GO SHORT WHEN I SEE A BULLISH CANDLESTICK PATTERN
- DON’T ENTER MARKET IF THERE IS NO JUSTIFIABLE PLACE TO PUT TP OR SL
- NO ENTRIES ON MAJOR HOLIDAYS
- ENTER LIMIT ORDERS FOR TRADES I HAVE CONFIDENCE IN WHICH I CLOSE BEFORE THE WEEKEND HITS
- ALWAYS WAIT UNTIL CANDLESTICK FORMATIONS HAVE FULLY DEVELOPED BEFORE ENTRY
- LET’S SAY A MINIMUM OF 3 CANDLES ON 1HR
- ALWAYS ASSESS THE MARKET ENVIRONMENT WHEN IT COMES TO TP &SL LVLS AS OPPOSED TO SETTING THEM BASED ON PIP VALUES
- KEEP IN MIND NOT ALL OF MY BASE CONFIRMATIONS NEED TO BE ACTIVATED FOR ME TO ENTER
- PRICE ALSO REVERSES WHEN THERE ISN’T A MAJOR MARKET PATTERN
- I MUST UNDERSTAND THE CONTEXT OF THE MARKET IN RELATION TO MARKET PATTERNS
- IE. A 200 CANDLE UPTREND VS. A 20 CANDLE H&S OR A 200 CANDLE UPTREND VS. A 30 0 CANDLE H&S
- MUST PAY ATTENTION TO THE SMALL DETAILS THAT MATTER
- MUST UNDERSTAND WHERE OTHER TRADERS GET TRAPPED & WHERE THEIR SLs GET TRIGGERED
- WILL PLACE TP/SL AROUND MAJOR ZONE IF THERE IS NO REASONABLE PLACE TO PUT THEM IF I DECIDE TO ENTER TRADE
Exit rules:
- MUST SEE COMBO OF SIGNALS TO EXIT (NOT JUST 1)
- FIXED SL & TP LVLS @ NEXT SIGNIFICANT S/R LVLS
- MA CROSSOVER OCCURS AGAIN
- WHEN MARKETS ARE ABOUT TO CLOSE FOR THE WEEKEND
- USE ATR COMBINED W/ CHART SETUP TO SET SL BUFFER
- @ LEAST 3 EXIT SIGNALS AND I’LL ASSESS SITUATION THEN GO FROM THERE
- WILL AUTOMATICALLY EXIT IF I SEE 5
- TRADE MANAGEMENT:
- LOOK @ TRADE @ THE BEGINNING OF EVERY HOUR
I ALSO NEED AN ASPECT OF THE BOT THAT TRADES THE MARKET WHEN IT'S TRENDING