ZigZagExpertPro

Hello programmer,

I'm looking for an experienced programmer to create an Expert Advisor based on an existing free indicator called ArrowZigZag.

I currently have a program compiling with 0 errors. I use this program with Heiken Ashi candles to create longer trade opportunities. This program has 3 inputs which I can only change in the IDE program. 

In the program there is already a condition to open a position on the current established arrow, bias based on the previous arrow. For example, if the previous arrow was a sell signal then a sell position will open on the next buy arrow  This is possible through a loop in the program. Because the latest arrow sometimes repaints and creates higher highs and lower lows creating some good gains however the arrow repaints and is not reliable. The open/closed position is based on the previous arrow made possible with an if condition.

This causes more than one problem. If the price reverses higher than or lower than an open/buy or sell condition then this equals a loss. In my demo account the EA does make money 50% of the time so no gains are being made because after making large gains in a trending market losses are incurred when in ranging or consolidating markets. Because of this I would like to make some changes to optimize this EA.

I want to change the condition by taking out the existing condition that opens a position based on the previous arrow. That means removing the loop.

I want to include 2 main conditions, a stop loss, the indicator arrows and lines on screen and an input function to control the EA.

The first condition is to open a position based on the current arrow signal buy or sell once price action has moved to the opposite direction by 1 bar closed above/below the current price swing low/high then to add a stop loss set at the previous swing high or low so if the price action returns the position will close then there will be minimal loss.

The second condition is to repeat the first condition if stop loss has been triggered and keep opening positions on arrows on the first new closed bar/candle above/below the current price swing low/high. I already have the condition to close the position on the next arrow buy or sell but I'm not sure if it is on close of bar so that may need adjustment.

This change means that the EA will open positions every time a candle/bar closes with the price action now moving above/below the current price swing low/high hoping to catch all potential mini trends.

Also I may like to have this EA Licensed for retail in the near future.

So to confirm:

1. Signal to open a position - the arrow of the ArrowZigZag  indicator (all of the indicator parameters should be adjustable):
   • A long-position is opened if the indicator's new arrow is pointing up (below the chart) on the last closed bar and the price action is now above the previous swing low moving up;
   • A short-position is opened if the indicator's new arrow is pointing down (above the chart) on the last closed bar and the price action is now below the previous swing high moving down ;
   • Arrows on the current (uncompleted) bar are ignored, only the completed bars are analyzed.
2. The position volume is calculated as a percentage of the current balance: Lot = Balance/MarginRequired * LotPercent / 100  where and adjustable in inputs:
   • Balance - current account balance;
   • MarginRequired  - the margin required to open a position with a size of 1 lot and adjustable;
   • LotPercent - an input parameter (the percentage for the calculation of the lot).
     For example, when the LotPercent = 5, with a 1:100 leverage, the lot for EURUSD (at current price of 1.3900) will be: 10 000 / 1 390 * 5 / 100 = 0.3597
     The obtained result is rounded off by the usual rules to the nearest correct value (up to 0.36 - if the DC allows lots with a precision of up to 0.01, or up to 0.4 - if the lot step = 0.1).
3. StopLoss (SL) and TakeProfit (TP) -  adjustable by the parameters StopLoss and TakeProfit:
   • The levels are specified in points of 4-digit quotes;
   • The levels are calculated relative to the price of recent swing high/low.
4. All of the open positions are accompanied by a SL calculated on recent swing high/low:
   • If a long-position is opened, and the next bar continues below the current price, the stop loss is triggered at recent swing low;
   • If a short position is opened, and the next bar continues above the current price, the stop loss is triggered at recent swing high;
   • The indicator values are taken from the completed (formed) bar, the current bar (uncompleted) is not used. That is, the modification should occur no more frequently than once in a bar;
   • Moving the SL is permitted only by programming but can be manually adjusted;
   • The SL should be set at the minimum allowable distance set at the recent swing high/low (but only if it complied with the previous rule of moving in the direction of the profit);
5. If there is an opened position, and there is an opposite signal, the opened position must be closed and a new one must be opened (in the opposite direction).
   For a new position the calculation of the lot must be called after closing the opened position.
6. Miscellaneous:
• When you run the Expert Advisor, it should attach the used indicators with the specified parameters;
• The information on the opening/closing of positions and of modifications of the SL should be stored in the Journal;
• If there are any errors, it must print a message describing the error.
7. Chart to be displayed using Heiken Ashi candles visible with ArrowZigZag indicator which matches the ZigZagExpert input settings.
   
8. An input function to change the input settings of the ZigZagExpert.

Faithfully,

Daniel