This expert advisor will rely heavily on catching the trend. The trading will take place mainly on the 4 hour chart.
This strategy consists of four indicators, which are:
1. 5 Period Exponential Moving Average (closed)
2. 15 Period Exponential Moving Average (closed)
3. 50 Period Exponential Moving Average (closed)
4. Stochastic indicator K=13 D=5 Smooth=5 (13,5,5) 80/20 Levels
Mechanics
There are only two, yet very important rules for the EA to follow when trading.
1. The K% line on the stochastic indicator MUST be above the D% line when taking a BUY & the K% line MUST be below the D% line when taking a SELL.
2. Both the 5 & 15 EMA MUST cross the 50 EMA going upwards to create a BUY signal OR downwards for a SELL signal.
*Both of these conditions must be met before a trade signal is generated.*
See below for some examples:
In this example, we can see the K% is above the D% (as shown by the bottom green arrow). We can also see the 5 & 15 EMA have crossed the 50 EMA (as indicated by the upper green arrow). Once both the 5 & 15 EMA’s have crossed the 50 EMA going upwards, the EA would have taken a BUY.
In this example, we can see the K% is below the D% (as shown by the bottom red arrow). We can also see the 5 & 15 EMA have crossed the 50 EMA (as indicated by the upper red arrow). Once both the 5 & 15 EMA’s have crossed the 50 EMA going downwards the EA would have taken a SELL.
Starting lots let's use 0.25
Allow lot size to be fixed or dynamic based on the balance.
Allow breakeven function and martingale function using a grid function and allow this to be enabled or disabled.
For martingale and grid, please allow the distance to be modifiable.
Please allow the martingale factor of increase to be modifiable (example, 1.3 increase each time a new trade is opened)
Allow a maximum amount of orders to be opened for martingale (4)
Default TP will be set at 250 points and modifiable.
SL: Allow it to be a fixed amount set to 500 points
We will use points, not pips
News filter (Will be discussed and negotiated)
Allow a time filter for the bot to turn on or off during certain hours and to trade certain days of the week.
Once the order is done, I would like the source code.
Please let me know if you have any questions or concerns.
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