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Termos de Referência
l Goal
Ø Convert an indicator “Zigzag_Dow” into a trend following EA.
Ø With multiple “trailing entries” with position sizing, breakeven protection and trailing stop features.
l Indicator
Ø Zigzag_Dow (to be provided to contracted developer)
² It modified the original Zigzag indicator
² It shows trend direction based on Dow Theory: Trends persist until a clear reversal occurs.
l Horizontal Line (in Red) : shows Last Dow Price (LDP) which indicates a pivot point for trend reversal
Ø the last Lower Low which is the starting point of current Highest High
Ø the last Higher High which is the starting point of the current Lowest Low
l Filled Arrow: shows a trend reversal when a price passes LDP
l Empty Arrow: shows a trend continuation when a price passes then-current Higher High / Lower Low
Ø EA should keep the original input parameters as they are.
l Entry
Ø Multiple Entries
² Multiple entries should be made.
Ø Entry Triggers
² Arrows should trigger entry points. Users should be able to choose Arrows for entry trigger by selecting True/False.
² 1st Arrow (Filled Arrow) : True/False
l 1st Arrow appears when price passes the LDP
² 2nd Arrow (Empty Arrow) : True/False
l 2nd and the following Arrow appears when price passes the then-current Higher High / Lower Low depending on the direction
² 3rd Arrow (Empty Arrow): True/False
² All Arrow (including 4th and following Arrows) : True/False
Ø Entry Points
² Orders should be placed at pullback points based on Fibonacci retracement ratio calculated based on the LDP and the then-current Highest High / Lowest Low following Entry Triggers
² Fibo retracement points to be used for entry points should be selectable from the following seven ratios:
l 0.0: True/False
l 23.6: True/False
l 38.2: True/False
l 50.0: True/False
l 61.8: True/False
l 78.6: True/False
l 88.6: True/False
² Entry points should be calculated for each Entry Trigger (=Arrow) based on Fibo retracement ratios between the LDP and the new Highest High / Lowest Low following respective Entry Trigger.
Ø Type of entry order
² Entry order type should be able to chosen from Stop Entry Order or Trailing Entry Order.
² Stop Entry Order
l Place a pending stop order after the price passes an entry point by Trigger Pips defined as follows:
Ø Trigger Pips = Stop Level (as provided by broker) + Stop Order Margin Pips
² Trailing Entry Order
l Place a pending stop order after the price passes an entry point by Trigger Pips as mentioned above, then the pending order should be modified like a trailing stop if price moves further away from the then-current order price. Trailing method should be selectable from ATR, MA and Fixed Distance
Ø ATR Trailing Entry
² TF
² ATR Period
² ATR Multiple
² ATR Additional pips
Ø MA Trailing Entry
² TF
² MA method
² MA period
² MA Additional pips
Ø Fixed Distance Trailing Entry
² Fixed Trailing Entry Distance Pips
Ø SL
² Original stop loss should be placed at LDP plus Additional SL Pips away from the entry price
l Additional SL Pips:
Ø TP
² TP pending order should be placed based on users’ defined Risk Reward ratio
l RR ratio:
Ø Risk (Position Size) per order
² Position size should be calculated based on a risk taken (Entry price – SL) as % of Account Equity or Account Balance
l Risk %:
l Account Equity or Account Balance:
Ø Day of the week
² EA operating day of the week
Ø Time of the day
² EA operating hours of the week
l Exit
Ø Breakeven Protection (move SL to breakeven + BE Profit)
² Want to have breakeven protection feature at users’ choice
l Breakeven Protection: True/False
² Breakeven should be triggered after price moves in profit by user defined pips
l Breakeven Trigger Profit in Pips:
² SL should be moved to a point securing user defined profit
l Breakeven Protected Profit in Pips:
Ø Trailing Stop
² ATR Trailing Stop
l TF:
l ATR Period:
l ATR Multiple:
l ATR Additional pips to be added:
² MA Trailing Stop
l TF:
l MA method
l MA period:
l MA Additional pips to be added:
² Fixed Distance Trailing Stop
l Fixed Trailing Entry Distance Pips:
