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I'm developing an extreme scalping bot for Forex, and I need someone to code my strategy based on a custom Pine Script indicator.
The indicator is called "Entry Confirmation V2" and it detects RSI divergences, both regular and hidden.
The bot should open trades when divergence conditions are met, with very tight stop losses and take profits (as small as 0.1 pips).
✅ What the indicator does:
- Calculates RSI with a customizable period.
- Applies two moving averages to the RSI (a fast one and a slow one).
- Detects pivot highs/lows on both the RSI and price using lookback periods.
- Compares current and previous pivot values to detect 4 types of divergences:
- Regular Bullish (RSI higher low + price lower low)
- Hidden Bullish (RSI lower low + price higher low)
- Regular Bearish (RSI lower high + price higher high)
- Hidden Bearish (RSI higher high + price lower high)
- Plots a label saying “EDM” when a valid divergence is detected (this one is irrelevant and unnecessary for the bot)
⚙️ Bot Requirements:
- Platform: (please specify MT4, MT5, cTrader, or other)
- Open buy/sell positions on the candle following the signal.
- Fully configurable SL, TP, and BE
- Ability to toggle which divergence types to trade (as a parameter).
- Ability to limit trading to specific pairs or timeframes (as a parameter).
- Risk management (lot size based on balance or fixed risk %).
- Console/log output of all trades and conditions.
📎 I will attach the full source code of the indicator. (in private)
AUTOMATED STRATEGY :: EDM DIVERGENCE BOT :: PARAMETERS
FILTERS: PAIR, TIMEFRAMES, RISK MANAGEMENT, CONSIDERING THE SLOW MA TO ENTER, LOOKBACK CANDLES (for TP, BE, divergence analysis), ACTIVATION HOURS, SL (pips), TP (look back candles), BE (after “x” candles)
*ENTRY CANDLE = the next candle after the candle that causes the divergence
**DIVERGENCE CANDLE = the candle responsible for the divergence (ex. look back 100 candles) consider equal- highs and equal-lows too (EH/ EL)
ENTRY PARAMETERS
LONG POSITIONS
If the RSI of the ENTRY CONFIRMATION V2 diverges with price below the slow MA (filter on) set a buy position when the entry candle* opens
SHORT POSITIONS
If the RSI of the ENTRY CONFIRMATION V2 diverges with price above the slow MA (filter on) set a sell position when the entry candle* opens
If there’s more than one divergence in the same entry candle, execute only one trade (FILTER, for example: execute 2/3/4 trades etc)
BE PARAMETERS
Move the SL to BE at the opening of the 2nd candle after the entry candle* IF the opening price of the 2nd candle is:
For LONG POSITIONS -> above the entry price
For SHORT POSITIONS -> below the entry price
SL PARAMETERS
If the preceded candle engulfs the entry candle
For LONG POSITIONS -> set the SL below the minimum price of the divergence candle** that precedes the entry candle*
For SHORT POSITIONS -> set the SL above the maximum price of the divergence candle** that precedes the entry candle*
If the preceded candle does not engulf the entry candle* -> DO NOT EXECUTE THE TRADE (FILTER)
For LONG POSITIONS -> set the SL below 1 pip of the entry candle*
For SHORT POSITIONS -> set the SL above 1 pip of the entry candle*
TP PARAMETERS
TP set at the mitigation of the first imbalance or GAP
Look back for 1000 candles (FILTER for example: look back 1500/2000/2500 candles etc, customisable anyway)
PD:
I want to be fully transparent from the start:
The budget I currently have available is $2,000 — I’m aware this might be modest for a project of this complexity. It’s not because I don’t value your work (quite the opposite), it’s simply all I can allocate at the moment.
That said, I genuinely believe this project has massive potential if developed properly. It's not just “another bot” — it's part of a broader ecosystem I'm building to automate high-performance strategies and generate long-term alpha.
If you're open to it, I'd be happy to explore a hybrid agreement: a partial upfront payment, and the rest tied to performance, or even a small share of the profits once it's live. I understand that's not everyone's preference, but I thought it might be a win-win option worth mentioning.
As a sign of good faith, I’m openly sharing the full logic of my strategy — no filters, no withheld pieces. I know this involves a certain level of risk on my part, but I believe in building projects with people who value transparency and long-term collaboration over short-term gains. I'm not here to micromanage code — I'm here to build something real.
Either way, I deeply appreciate your time and expertise, even if we don’t end up working together. It would be a shame not to at least try to bring such a promising concept to life.
