Indicator based Expert Advisor Creation.

General Idea of the trading strategy – To enter a trade based on Volume Indicator(BW MFI) and Single Line Indicator(Williams Percent Range) values being at a certain levels and current candle price being at a certain level in relation to Baseline (Moving Average).

Requirements Specification Description – Requirements Specification is divided into stages with clearly defined actions to take.

Preparation stage: You will be provided with default currency pair, timeframe, platform(MT5), and indicator files with their suggested default settings. This system is not Multi Time-Frame, meaning, you take values for the EA from one chart and the indicators that have been put on it.

Signal stage: Here I wrote down things that must come TRUE for a signal to BUY or SELL to be had. Certain color of MFI has to be TRUE for a signal, price of current candle has to be TRUE at a certain point in relation to Moving Average, Value of WPR indicator of the current and previous candle has to be TRUE at a certain point for a signal.  All three of these must agree for trade to be executed.

Risk Calculation stage: After a signal to BUY or SELL, we use values from a risk management indicator to determine lot size, where to set initial stop loss and take profit.

Trade Management and Exit stage: When trade is open and profitable, setting of a Breakeven stoploss after a certain pip count will be necessary. Exit will be determined from a value of WPR indicator.

Adjustable parameters – I’d like to adjust certain parameters of beforementioned indicators either in code on MetaQuotes Language editor, where you point them out with the lines that start with // OR in Inputs section with Variable and Value columns in MT5 Expert Advisor itself.

Trade Opened Alert -  Every time the EA opens a trade, make the option to get alerts to email and platform with a sound.

First, just get this done. I’ll test this on one chart, then add this expert advisor to multiple currency pairs, and I’ll need to have a way to

1.       Have a way to enter manually  certain times in the future when to exit all trades and not take any new ones. This is to avoid big news events like USD Interest Rate decision and so on. Reason – this requires Multi Time Frame and Platform programming, which is more complicated. For now, I will just turn off my trading platform at these certain times manually.

2.       Have a way to limit trades taken and manage total Risk Exposure. Example, AUDCAD and AUDUSD gets a buy signal and trade opens. I might get another three signals on AUD pairs soon later, which would mean I risk too much at one time. Reason – this requires Multi Time Frame, EAs working in conjunction with each other and Platform programming, which is more complicated. For now, I will just turn off trades on AUD(example) pairs at that time manually.

Or, you can do them right now, if it’s not that complicated as I thought. And remember to ask me extra payment for you.