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MT4 EA TO TAKE TRADES FROM (A) HYDRA TREND RIDER AND (B) IQ GOLD GANN LEVELS ON MQL5.COM
The MT4 version of these two indicators can be found on the mql5.com website with the following links:
Hydra Trend Rider: https://www.mql5.com/en/market/product/111010?source=Site+Profile+Seller
IQ Gold Gann Levels: https://www.mql5.com/en/market/product/134335?source=Site+Profile+Seller
(1) ENTRY
(a) Hydra Trend Rider signal shows with arrow pointing upwards for BUY or downwards for SELL.
(b) The colour of the line in the Hydra Trend Rider indicator shows same colour as the arrow i.e. Green for BUY and Red for SELL.
(c) The slope of the line in the Hydra Trend Rider must also point in the same direction as the arrow in (1) above i.e. upward sloping for BUY and downward sloping for SELL.
(d) (OPTIONAL) The multi time frame section of the Hydra Trend rider should show the trader preferred time frame(s) in the same direction. This should be an optional setting requiring the Trader to select Yes OR No for Multi time frame check. If he selects Yes, then he must select which of the 9 time frames that must be used for this multi time frame check i.e. Trader can select M1, M5 and M15 for example.
(2) STOP LOSS AND BREAKEVEN
(a) Set Stop loss at xxx pips from the nearest Pivot.
(b) Move stop loss to Breakeven PLUS xx pips when:
(i) Hydra Trend rider turns white, OR
(ii) Market touches the nearest Gann level whether major or minor. This is defined as the nearest Gann level in the direction of the open trade i.e. for Buy trades, the nearest Gann level will be above the entry price of the open buy trade and vice versa for Sell trades.
(3) EXIT
(a) When Stop loss or Breakeven plus is hit, OR
(b) When opposite signal that meets all entry criteria in (1) above appears. If all entry criteria are not met, then trade is kept open.
(4) EA SETTINGS
(a) Money Management:
(i) Fixed order lot size (to two decimal places for).
(ii) Auto lot compounding (based on say 0.01 lot for every $100 in account.
(iii) Maximum number of trade entries in same direction (Trader to enter a figure of at least 1).
(b) Stop Loss management:
(i) Set xxx pips or points or ticks above (for sell trades) OR below (for buy trades) nearest pivot to trade entry. When multiple trades are allowed in same direction, each open trade must have a stop loss).
(ii) Move stop loss to breakeven PLUS xxxx pips when market touches the nearest Gann level.
(c) Main Settings
(i) Maximum spread (in pips)
(ii) Do Multi time frame check using Hydra Trend Rider – Yes or No.
(d) Time settings
(i) Start time in hours and minutes (based on broker time)
(ii) End time in hours and minutes (based on broker time)
(Default time setting for EA should be to stop trading 15 minutes BEFORE US markets close and to start trading 15 minutes AFTER Tokyo markets open. Use the broker, IC Markets time for the default time setting).
(5) GENERAL
(i) The EA should work well on both Renko and candle stick charts.
(ii) Only Gold works with the IQ GOLD GANN LEVELS, while HYDRA TREND RIDER works with all instruments. As such, EA should still be able to trade with only the Hydra Trend Rider if it is the only one of the two indicators that works with the instrument being traded.
(iii) Both indicators DO NOT have buffers for use by developers to code EAs.
(iv) Access will be provided to the selected developer to use my vps to complete the development of this EA.