EA NAME - MEGA PROFITS EA - MT5
EA IS TO TRADE CURRENCY PAIRS AND SYNTHETIC INDICES
INDICATORS
MAIN CHART - EXPONENTIAL MOVING AVERAGE - EMA 20
INDICATOR WINDOW -
CUSTOM INDICATOR - SPIKE KILLER IS ATTACHED
SPIKE KILLER GIVES BUY AND SELL SIGNALS BASED ON TREND
ATTACH THE SPIKE KILLER CUSTOM INDICATOR TO CHART, THEN GO TO COLORS, 1 IS A SELL ARROW, CHANGE THE COLOR TO WHITE WHILE 2 IS A BUY ARROW, CHANGE THE COLOR TO AQUA.
THE MOVING AVERAGE INDICATOR ON MAIN CHART SHOULD BE MADE EDITABLE TO ALLOW USER TO INPUT ANY MOVING AVERAGE OF CHOICE, BUT THE EA LOGIC WILL REMAIN THE SAME.
HOWEVER, THE ABOVE SETTINGS WILL BE THE DEFAULT SETTINGS
ENTRY CONDITIONS
BUY ENTRY
CONDITION 1 – THE BUY ARROW FROM THE SPIKE KILLER INDICATOR APPEARS
CONDITION 2 OPEN A BUY TRADE ONLY WHEN THE PRICE CANDLE CLOSES ABOVE EMA20 AFTER CONDITION 1 HAS BEEN MET.
SELL ENTRY
CONDITION 1 – THE SELL ARROW FROM THE SPIKE KILLER INDICATOR APPEARS
CONDITION 2 OPEN A SELL TRADE ONLY WHEN THE PRICE CANDLE CLOSES BELOW EMA20 AFTER CONDITION 1 HAS BEEN MET.
A GRAPHIC ILLUSTRATION OF A BUY AND SELL TRADE EXAMPLE IS ATTACHED FOR A BETTER CLARITY.
INPUT SETTINGS
TO HAVE THE FOLLOWING
- A ROW TO INPUT THE NUMBER OF TRADES EA TO OPEN PER SIGNAL
- AN OPTION TO SELECT BUY ONLY TRADES, SELL ONLY TRADES, BUY AND SELL TRADES
TRADE MANAGEMENT
TO HAVE TWO OPTIONS
- TAKE PROFIT, STOP LOSS AND TRAILING STOP
- TRADE CLOSURE BY OPPOSITE SIGNAL, MEANING THAT WHEN A BUY TRADE IS OPENED FOR AN EXAMPLE, TRADE SHOULD AUTOMATICALLY CLOSE WHEN THE SELL ARROW APPEARS, AND WHEN A SELL TRADE IS OPENED, THE TRADE SHOULD AUTOMATICALLY CLOSE WHEN A BUY ARROW APPEARS.
v TAKE PROFIT AND STOP LOSS TO HAVE TWO OPTIONS, WHICH ARE :
OPTION ONE - TP/SL IN PIPS FOR CURRENCIES OR POINT VALUES FOR SYNTHETIC INDICES
OPTION TWO – TP/SL BY NUMBER OF CANDLES COUNT
TAKE PROFIT BY CANDLE COUNT – SHOULD ONLY COUNT OR TAKE INTO CONSIDERATION ONLY CANDLES THAT CLOSES IN PROFIT, FOR EXAMPLE, IF TP IS 1, TRADE SHOULD CLOSE ONLY WHEN THE FIRST CANDLE TO CLOSE IN PROFIT CLOSES.
IF TP IS 2 – IT MEANS TRADE SHOULD CLOSE AFTER THE SECOND CANDLE TO CLOSE IN PROFIT CLOSES.
IF TP IS 3 – IT MEANS TRADE SHOULD CLOSE AFTER THE THIRD CANDLE TO CLOSE IN PROFIT CLOSES. AND SO ON AND SO FORTH.
STOP LOSS BY CANDLE COUNT – SHOULD ONLY COUNT OR TAKE INTO CONSIDERATION ONLY CANDLES THAT CLOSES IN LOSS. FOR EXAMPLE, IF SL IS INPUTTED AS 1, IT MEANS TRADE SHOULD CLOSE AFTER THE FIRST CANDLE CLOSES IN LOSS.
IF SL IS INPUTTED AS 2, IT MEANS TRADE SHOULD CLOSE AFTER THE SECOND CANDLE CLOSES IN LOSS. AND SO ON AND SO FORTH.
MEANING THAT IF A BUY TRADE IS OPENED, TP WILL ONLY TAKE INTO CONSIDERATION BUY CANDLES THAT CLOSE IN PROFIT AND THE SELL CANDLES WILL BE FOR STOP LOSS.
CONVERSELY, IF A SELL TRADE IS OPENED, TP WILL ONLY TAKE INTO CONSIDERATION SELL CANDLES THAT CLOSE IN PROFIT AND THE BUY CANDLES WILL BE FOR STOP LOSS
TRAILING STOP
TRAILING TO HAVE AN ON/OFF OPTION WITH A ROW TO INPUT THE NUMBER OF PIPS OR POINTS VALUE IT WILL TRAIL BY WHEN TURNED ON.
ONCE PRICE MOVES …XXXX…. NUMBER OF PIPS OR POINTS VALUE INTO PROFIT, AUTOMATICALLY MOVE THE STOP LOSS TO THE ENTRY WHETHER TRAILING STOP IS ON OR NOT, AND SUBSEQUENTLY, LET IT TRAIL ACCORDING TO THE VALUE INPUTTED FOR TRAILING STOP WHEN TRAILING IS ON.
FOR THE DEFAULT SETTINGS, LET …XXXX… BE 10 PIPS, MEANING THAT FOR ANY NO OF PIPS OR POINTS VALUE INPUTTED HERE, PRICE SHOULD AUTOMATICALLY MOVE TO ENTRY, ONCE THE MARKET MOVES INTO PROFIT BY THAT NO OF PIPS/POINTS VALUE AND SUBSEQUENTLY TRAIL BY THE NO INPUTTED FOR TRAILING STOP IF TRAILING IS ON.
NOTE - WHEN THE JOB IS READY FOR DEMONSTRATION OR TESTING, YOU WILL SEND ME A FILE TO TEST THE EA IN A LIVE MARKET ON A DEMO ACCOUNT AND NOT THROUGH STRATEGY TESTER
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