EA BUYSELL

Please give your quote and time for EA development to run in MT4 platform.

External Selections:

Currency Pair:  (Based on the Chart)

MA Period:

MA Method:

MA Color line:

Enable 5 Digit Broker: False (4 digit) True (5 digit)

Enable Buy or Sell:

Money Manager by Lot Size:

For each Amount :

Use lot size:

MA Distance: e.g.Distance from MVG (PIPS in 5 decimals: 0.00010)

Slippage:

Target Price

Time Frame:

Strategy Overview:

EA should accommodate any currency pair, any lot size (units also), any time frame (even from 1 minute TF) and only buys or sells or both as per the external selection.

·        Trailing stop (TS) based on the Distance from MA. (PIPS in 5 decimals: 0.00010)

·        Only one position at a time, Buy or Sell.

·        Trailing stop rate should be the rate for Reverse Order always. That means, if Trailing stop triggers, simultaneously Reverse entry order should also trigger. i.e. Trailing Stop and Reverse orders should Be independent, one order for Trailing stop and other for Reverse order.

·        Again after (Sell) Reverse order triggered, again (Buy) Reverse order should be placed with Trailing stop. It should be a continuous process.

·        Always there should be a Buy or Sell open position.

·        Trailing Stop orders should place separately as some of the Brokers do not allow Trailing stop orders placed together.

·        If the target is reached, all the pending orders should be cancelled and new orders should be placed based on the MA distance set.

·        If target rate is not set, trade are based on the stoploss and reverse orders.

EA Conditions:

E.g. Simple Moving Average (SMA) is 100 and Time Frame (chart) 1 Hour for EURUSD pair. SMA Price is 1.42505 and the Distance from MVG (external Value) is 0.00100 (PIPS in 5 decimals).

1. EA should confirm first that there is no open position before placing fresh orders. If there is any open position, e.g. Long Open position, EA should place only Stop Loss (sell) order and a Reverse order (sell) as per the below conditions.

2. For New order EA should place a BUY order at 1.42605 (1.42505 + 0.00100) and immediately place Trailing Stop (TS) order (SELL) at 1.42405 (1.42505 – 0.00100) and a SELL order (Reverse) at 1.42405 (1.42505 - 0.00100).

3. If Buy order triggered, Trailing stop order and Reverse order must always based on the (SMA –Distance) Price.  E.g If the SMA rate was changed to 1.42755 by next bar (1 hour), TS (SELL) should be (1.42755 - 0.00100) = 1.42655 and SELL (Reverse)order should also be (1.42755 – 0.00100) = 1.4265.

4. If the first BUY order Trailing Stop triggered and position closed, simultaneously SELL order also be triggered and SELL position opens with a Trailing Stop and a Reverse (BUY) order should be placed. Like this, EA should continuously open orders. (That means, always there should be an open position with a Trailing Stop and a reverse order.)

5. A very important point is that the Trailing Stop which is initially placed should always move in favour, even if SMA moves in the opposite direction. That means, BUY order triggered at 1.42605 and Trailing Stop is 1.42405, if the SMA is 1.42505. After opening the position SMA moves to 1.42455, actual Trailing Stop is 1.42355 (1.42455 – 0.00100), this should NOT be allowed as this will increase the loss from 20 pips to 25 pips and more. Maximum Stop Loss should always be 20 pips. Trailing Stop should always move in favor and not in opposite direction. Reverse order also should have the same logic as Trailing Stop and Reverse order rates are always the same.

6. EA should have Money Manager based on use lot size based on the amount.

7. Most of the time, open positions are made by Manual trade, based on this the EA should place stoploss and reverse order.

8. If target price is set, after target reach, pending orders should be cancelled and fresh orders should be placed based on the initial conditions.

If any clarification, please contact email: prabuadeswar@gmail.com

Thanks & regards

Adeswar Prabu