Expert Advisor ADR MA Bot

Objective: Need an expert advisor to generate an algorithm to be able to scan the next pairs of currencies when the percentage of the ADR is as desired by the trader user (in this case me).

Definitions

ADR= Average Daily Range

·        Scan all the currencies at the begging 

·        Sample input of the currencies to be scanned on MT4 platform and MarketWatch.

Logic actions and parameters of the algorithm:

·        Scan the in MarketWatch (Example).

o     Specific inputs: ADR 125, ADR 150, ADR 175, ADR 200, ADR 225.

o     If I input 150-> MarketWatch scans the all pairs of currencies that have exceed up or down the ADR in 150% (buy and sell) and all the parameters 125,150,175,200,225.

o     Prioritize the trades that have the lowest spread among the parities

·        Stop Loss to be defined where a position is opened times the basis points of risk (bp).

·        Risk per position and Stop Loss parameters (Example): 

o     Specific inputs: basis points and risk

o     If I input 5bp as an example, and 1 (1% on the risk parameter), then in 5 bp in the stoploss calculates the 1% risk of the position.

·        Maximum open orders to be opened

o     Specific input: 0,1,2,….number of open orders to be handled at the same time

o     An input To define how many of the orders can the algorithm can handle based on risk.

·        Close positions during the day: to be closed in X basis points as an input (bp) and to take the profit as the distance of the moving average, so distance of moving average = bp 

o     Specific Input (bp): Tolerance = measured in bp as distance

o     Specific input: 1 or 2 

o     If 1-> It is Exponential Moving Average

o     If 2-> It is Simple Moving Average

·        Close positions at the end of the day 

o     Specific input: 0 or 1

o     If 1-> Clos them all

o     If 0-> Keep them opened