I have a working mt5 scanner (looks exactly like a bollinger band) with 3 bands. I want to build an indicator and a EA (both mt5 and mt4) For BUY, I want the EA to be opening trades and the indicator to be giving notifications specifically on the following conditions:
For BUY Conditions
1, when previous candle(INDEX 1) closed BELOW AND OUTSIDE the LOWER band of the scanner.
2,When the low or the lower wick of previous candle (index 1) IS BELOW, CROSSED BELOW OR STICKING OUT BELOW THE LOWER BAND OF THE SCANNER
3, For the indicator, notification MUST BE GIVEN when the lower wick touches the lower or the upper band irrespective of wherever the candle closes (This is very very important because a very large number of times, price will come and touch the band and then retraces back way too long before the candle closes. As a result, such a nice entry is lost.)
CONDITIONS FOR CLOSING BUY POSITIONS:
1, When Current candle (index 0) touches or is above the Upper band
2, When the PREVIOUS CANDLE (index 1) closes above the Upper band
TRAILING STOP LOSS : ATR Indicator multiplied by 3
FOR SELL CONDITIONS:
1, when previous candle (index 1) closed above and outside the UPPER Band of the scanner
2, When the High or the Upper wick of previous candle (index 1) is above, crossed above or sticking out above the Upper band
3, For the indicator, notification MUST ALSO BE GIVEN when the Upper wick touches the upper band of the scanner irrespective of wherever the candle closes (This is very very important because a very large number of times, price will come and touch the band and then retraces back way too long before the candle closes. As a result, such a nice entry is lost.)
CONDITIONS FOR CLOSING SELL POSITIONS:
1, When Current candle (index 0) touches or is BELOW the Lower band
2, When the PREVIOUS CANDLE (index 1) closes BELOW the LOWER band
TRAILING STOP LOSS : ATR Indicator multiplied by 3
For the mt5 EA, I want to be using it for binary volatility indices such as Volatility 75, 100, 75 (1s), Step Index, etc Already, i have code one EA myself from eabuilder website but am having a little issue regarding pips calculation, this is why i changed to using ATR Indicator as trailing SL. I'm thinking if a set files can be made for the indices so that the EA wont be having problems in opening trades. Furthermore, i will be very happy if the expert can suggest better ways of coding this EA of mine. Thanks
I also have a mt5 autotrendline indicator which i also want to be giving notifications anytime current candle touches them OR break through OR anytime current candle breaks out of the two trendlines either to the upside or to the downside. I have the two indicators with me and their source codes. I will send it once i see an expert who can do the job. Thanks.
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