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Hi All,
I want to create an Expert Advisor that will be based on predicting the market direction using 4 prices. At beginning of the installation, 3 prices will be set up on the EA, then the EA will identify the Actual Highest and lowest of the Market prices at startup to set up the average price to make up the 4th price CONTROL. This will now make the EA to have 4 prices to use to start the movement. The Average price will continue to change based on the UPDATED HIGHEST and LOWEST price after breaking the current or Starting HIGHEST and LOWEST prices.
MONITOR 1
EA will identify new peaks ie HIGHEST and LOWEST prices after installation until EA is refreshed or reinstalled. So the EA will identify the market trend as UPWARDS (If High Price is the last side to change) or DOWNWARDS (if Low Price is the last side to change).
MONITOR 2
DIRECTION will be UPWARDS if daily prices (HIGHEST & LOWEST) go above any of the 2 prices (out of the 4 prices set up above), and DOWNWARDS if daily prices (HIGHEST & LOWEST) go below any of the 2 prices (out of the 4 prices set up above).
MONITOR 3
DIRECTION will be UPWARDS if prices 4 (AVERAGE PRICE) go UPWARDS from previous value (update price), and DOWNWARDS if (AVERAGE PRICE) go DOWNWARDS from previous value (update price)).
If the Direction is UPWARDS, then the ACTIVE bid will be a BUY and the passive bid will be a SELL. If the Direction is DOWNWARDS, then the active bid will be a SELL and the passive bid will be a BUY.
Based on the DIRECTION of MONITOR 1, MONITOR 2 and MONITOR 3, the EA will now identify the DIRECTION and the bid to take for profit ie, BUY lower and SELL higher UPWARDS if the DECISION is a BUY, (E.G. BUY 100, 101, 102, 103, 104, 105 and SELL at 102, 103, 104, 105, 106, 107) or SELL higher and BUY lower DOWNWARDS if the decision is a SELL(E.G. SELL at 107, 106, 105, 104, 103, 102 and BUY 105, 104, 103, 102, 101, 100).
BUYING LOWER will consider the LOWEST PRICE to position to BUY upwards and SELLING HIGHER will consider the HIGHEST PRICE to position to SELL downwards.
A timer will be established for monitoring the time after the EXTREME HIGHEST and LOWEST have been achieved. So we will have 2 Timers. One for HIGHEST and the other for LOWEST.
There will be a CONTROL TIME for the EA to stop taking trades if a certain time (TIMER) has elapsed after reaching the STATIC PRICE of either direction. The input TIMER will be in hours ie 1, 2, 24 (1day) etc. So it will start calculating the hours when the highest and lowest price is achieved and will close the bids at the set up timer for both positions once the first of the 2 has reached the time period. One timer will be for highest and another for lowest.
If however price reverses to the lower of the 2 direction prices (FOR A BUY), and return back UPWARDS again, then EA will restart a new set of BUY bids UPWARDS again. Same condition will apply for a SELL if price goes UPWARDS above the higher of the 2 LOWER PRICES and reverts DOWNWARDS
Losses should have a % lock in to the Account balance. So if setting is at 1%, then daily losses must not exceed 1% of the account balance on all trades in the account.
SL should be upgraded to the last bid SL for all existing bids if more than 2 bids. So if we have 5 BUY bids, then the SL for all the 5 bids will be set to the SL of HIGHEST BUY, and also if it’s a SELL, then the SL of the LOWEST SELL will be for ALL the SELL bids.
All settings must be in real time prices and not pips. So a 0.002 means difference between 1.008 and 1.0082. a variable price of 25 means difference between 2400 and 2375. etc.
EA will also be set to restart once any variable is changed manually.
EA should be able to capture the highest and lowest prices after installation on the screen and the date and time.
EA SHOULD ALSO USE THE 2 DIRECTION MODEL TO CONFIRM GOOD OPPORTUNITIES IN THE MARKET AND TRADE EFFECTIVELY ON THE DIRECTION.
I will need up to 12 to 20 weeks to evaluate the EA and any revisions during that period will still be on the programmer as long as it is in scope of the project description.
Programmer will also submit the code after completion.
VARIABLES SETTING
PRICE 1, 2 AND 3
TIMER FOR BOTH HIGHEST AND LOWEST POSITION PEAKS
AVERAGE PRICE (AUTOMATIC UPDATES FROM HIGHEST AND LOWEST) PRICE 4
HIGHEST AND LOWEST POSITION PRICE UPDATE
MINIMUM DISTANCE BETWEEN BIDS OF SAME DIRECTION TO ACTIVATE
TAKE PROFIT USING TIMER HOURS
TREND OF PRICE 4, INCREASE OR DECREASE. BUY- UPWARD, SELL- DOWNWARD (Keep Sell bids above the price and Buy bids below it)
Find below a sample pattern
