Create an Taper indicator MT4 ( For Alexander Sinitsyn)

EA PROPOSAL



The EA is similar to Tapering


And it's tapering buy or sell in only trend direction..... It will never have buy and a sell simultaneously......

here it will initiate only A buy or sell when there is a signal For a buy or a sell

For example if initiated a buy 0.1 then at certain Pips above this buy will be 0.09 buy


For signal we need to use some indicators

1) 15minutes chart..... plot a smoothed moving average of period 24.......two moving averages...Price Applied to High (Green line representation)  and Price Applied to low ( Red line representation )

2) 15 minutes chart ....Commodity Channel Index...... 100 Level and -100 Level

Period 50 to Weighted close ( HLCC/4 )


3) We need to cross check the currency pairs strength in H1 ( HOURLY) For a buy 50 ema should be above 200ema

For a sell 50 ema should be below 200ema


Condition for buy

1) Hourly chart should show 50ema above 200 ema

2) In 15 minutes Chart..... Candle should close above the green high line of 24 smoothed moving average

3) In 15 min Chart.... CCI line should be above Level 100

If all the conditions are met..... Go for a tapering buy ...may be 0.1 lot size and if moves in the same buy direction by 15pips it should initiate 0.09 a lesser lot size


Exit Rules for Buy - Optional Exit

1) Exit when the candle closes below Red line Low smoothed moving average and CCI closes below -100 LEVEL

2) Trailing stop loss as per pips gained


Condition for Sell

1) Hourly chart should show 50ema BELOW 200 ema

2) In 15 minutes Chart..... Candle should close BELOW the RED LOW line of 24 smoothed moving average

3) In 15 min Chart.... CCI line should be BELOW  Level - 100 (MINUS 100)

If all the conditions are met..... Go for a tapering SELL ...may be 0.1 lot size and if moves in the same SELL direction by 15pips

it should initiate Second position with a lot size of 0.09 a lesser lot size.



Exit Rules for SELL - Optional Exit

1) Exit when the candle closes ABOVE GREEN line HIGH smoothed moving average and CCI closes ABOVE 100 LEVEL ( POSITIVE 100 LEVEL)


2) Trailing stop loss as per pips gained


Once First position is initiated We have to take Tapering entries only based on Pips step.

Example : Say a 1st sell position is initiated when Sell Conditions are met and it is running we have to take 2nd, 3rd., N number of positions based on Pips step only.


Indicator conditions is only for initiating First Buy/Sell position



REQUIRED OPTIONS IN THE EXPERT ADVISER

1) LOT SIZE ...INITIAL

2)LOT STEP

3) Price Step Pips

4) SMOOTHED MOVING AVERAGE SETTINGS :
Period :
TimeFrame : FOR 15MINS AND OR ONE HOUR
 
5) CCI SETTINGS FOR 15MINS AND OR HOURLY
Period :
Selected TimeFrame :

6) EMA..... TWO THIS ARE REQUIRED FOR HOURLY OR 4 HOURLY OPTION
EMA 1 :
EMA 2 :
Selected TimeFrame :

7) CUMULATIVE TARGET : True/False

Target in Dollars ( When all running positions reach a set target . Close all running positions at a time)

8) TRAILING STOP LOSS WITH PIPS Option - True/False
Trail Stop :
Trail By Pips :

9) CROSS OVER EXIT Option - True/False

When Price crosses Smoothed MA and CCI on opposite side close all trades at a position.

10) THREE TIME ZONES ....FROM AND TO

Slot 1 : 00.00 Hrs to 09.59 Hrs

Slot 2 : 10.00 Hrs to 14.59 Hrs

Slot 3 : 15.00 hrs to 23.59 hrs


Use Market Watch option: EA has to detect only the pairs which are added in market watch.


12) SIMULTANEOUSLY ONLY TWO OR THREE OR FOUR POSITIONS SHOULD BE THERE......THESE ARE REQUIRED BASED ON CAPITAL And it should be an option

13) Waiting Time : (In Minutes) When all running positions are closed. Wait for sometime to initiate a new position