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MetaTrader 4 (MT4) script that implements a channel breakout strategy. This script will use the "HHLLIndicator" and "Average Daily Range (ADR)" indicators to make trading decisions.
Logic Overview:
Indicators: The script will utilize two custom indicators: "HHLLIndicator" to identify Highest High (HH) and Lowest Low (LL) and "ADR" to calculate the Average Daily Range.
Timeframe: The strategy will be applied on the 15-minute (M15) chart.
Entry Conditions:
Average Daily Range (ADR) Check: The script will calculate the ADR using the "ADR" indicator. If the ADR is greater than or equal to 100 pips, the script will proceed with the strategy. Otherwise, it will not trade.
HH and LL Calculation: The "HHLLIndicator" will be used to calculate the Highest High (HH) and Lowest Low (LL) on the 15-minute chart.
Entry Levels: The script will calculate entry levels for both long (buy) and short (sell) positions.
Buy Stop: Above the HH by a specified number of pips.
Sell Stop: Below the LL by a specified number of pips.
Pending Orders:
The script will check for existing pending orders and delete them to avoid duplication.
Order Placement:
The script will place pending buy-stop and sell-stop orders at the calculated levels.
Trailing Stop:
If the Trailing Step Stop is enabled (not set to -1), the script will not set trailing stops.
If the Trailing Step Stop is set to -1, the script will set trailing stops for both buy and sell orders. The trailing stop will initially be set at "TrailingStopStart" pips, and it will step by "TrailingStepSteps" pips as the price moves in favor of the trade.
Detailed Task:
Create a new script in MetaEditor and name it "ChannelBreakout.mq4."
Define the necessary input parameters at the beginning of the script. These parameters include:
StopLoss: Stop Loss in pips (0 for automatic calculation).
TakeProfit: Take Profit in pips (0 for automatic calculation).
ADRThreshold1: ADR threshold for the first condition (e.g., 100).
ADRThreshold2: ADR threshold for the second condition (e.g., 175).
EntryOffsetPips: Offset for entry orders (e.g., 10).
EntryHourGMT: Hour to enter pending orders in GMT time (e.g., 23).
RiskRewardRatio: Risk-reward ratio (e.g., 3.0).
TrailingStopStart: Initial Trailing Stop in pips (e.g., 30).
TrailingStepSteps: Trailing Step in pips (e.g., 20).
TrailingStepStop: Trailing Step Stop (use StopLoss or set to -1 for trailing) (e.g., -1).
MagicNumber: Magic Number for orders (e.g., 0).
BuyStopAboveLL: Buy Stop Offset above Lowest Low in pips (e.g., 10).
SellStopBelowHH: Sell Stop Offset below Highest High in pips (e.g., 10).
In the "OnInit" function, create handles for the "HHLLIndicator" and "ADR" indicators. These handles will allow you to access the indicator values later.
In the "OnDeinit" function, delete the indicator handles to free up resources.
In the "OnTick" function, implement the trading logic based on the steps mentioned in the logic overview. Specifically:
Calculate the ADR using the "ADR" indicator on the 15-minute chart.
Check if ADR is greater than or equal to "ADRThreshold1." If not, do not proceed with trading.
Calculate HH and LL using the "HHLLIndicator" on the 15-minute chart.
Calculate entry levels for buy and sell orders based on HH, LL, BuyStopAboveLL, and SellStopBelowHH.
Check for existing pending orders and delete them.
Place pending buy-stop and sell-stop orders at the calculated levels.
If "TrailingStepStop" is set to -1, set trailing stops for both buy and sell orders.
Create a function to delete pending orders called "DeletePendingOrders." This function should iterate through existing orders and delete buy-stop and sell-stop orders.
Create a function to set trailing stops called "SetTrailingStop." This function should calculate the appropriate trailing stop level based on the current price and trailing parameters.
Save and compile the script.
Attach the "ChannelBreakout.mq4" script to a 15-minute chart in MetaTrader.
Ensure that the "HHLLIndicator" and "ADR" indicators are properly installed and available in MetaTrader.
Test the script in a demo account to ensure it behaves as expected and follows the defined logic.
The strategy now it has erros and dont work as should
In the atachment you have all teh script and the EA the chart must display the
ADR =day value
Details aboout postions
Positions
SL
TP
Working/Slipping
Must work on any time frame and calculate the ADR
HH and LL lines above the candle
I need to know how long you need and how much you want to be pay the job is for 2-3 h max
Debug report
back testing report
No errors or warning
Zomm and interview is amust before job will be acceptd
Logic Overview:
Indicators: The script will utilize two custom indicators: "HHLLIndicator" to identify Highest High (HH) and Lowest Low (LL) and "ADR" to calculate the Average Daily Range.
Timeframe: The strategy will be applied on the 15-minute (M15) chart.
Entry Conditions:
Average Daily Range (ADR) Check: The script will calculate the ADR using the "ADR" indicator. If the ADR is greater than or equal to 100 pips, the script will proceed with the strategy. Otherwise, it will not trade.
HH and LL Calculation: The "HHLLIndicator" will be used to calculate the Highest High (HH) and Lowest Low (LL) on the 15-minute chart.
Entry Levels: The script will calculate entry levels for both long (buy) and short (sell) positions.
Buy Stop: Above the HH by a specified number of pips.
Sell Stop: Below the LL by a specified number of pips.
Pending Orders:
The script will check for existing pending orders and delete them to avoid duplication.
Order Placement:
The script will place pending buy-stop and sell-stop orders at the calculated levels.
Trailing Stop:
If the Trailing Step Stop is enabled (not set to -1), the script will not set trailing stops.
If the Trailing Step Stop is set to -1, the script will set trailing stops for both buy and sell orders. The trailing stop will initially be set at "TrailingStopStart" pips, and it will step by "TrailingStepSteps" pips as the price moves in favor of the trade.
Detailed Task:
Create a new script in MetaEditor and name it "ChannelBreakout.mq4."
Define the necessary input parameters at the beginning of the script. These parameters include:
StopLoss: Stop Loss in pips (0 for automatic calculation).
TakeProfit: Take Profit in pips (0 for automatic calculation).
ADRThreshold1: ADR threshold for the first condition (e.g., 100).
ADRThreshold2: ADR threshold for the second condition (e.g., 175).
EntryOffsetPips: Offset for entry orders (e.g., 10).
EntryHourGMT: Hour to enter pending orders in GMT time (e.g., 23).
RiskRewardRatio: Risk-reward ratio (e.g., 3.0).
TrailingStopStart: Initial Trailing Stop in pips (e.g., 30).
TrailingStepSteps: Trailing Step in pips (e.g., 20).
TrailingStepStop: Trailing Step Stop (use StopLoss or set to -1 for trailing) (e.g., -1).
MagicNumber: Magic Number for orders (e.g., 0).
BuyStopAboveLL: Buy Stop Offset above Lowest Low in pips (e.g., 10).
SellStopBelowHH: Sell Stop Offset below Highest High in pips (e.g., 10).
In the "OnInit" function, create handles for the "HHLLIndicator" and "ADR" indicators. These handles will allow you to access the indicator values later.
In the "OnDeinit" function, delete the indicator handles to free up resources.
In the "OnTick" function, implement the trading logic based on the steps mentioned in the logic overview. Specifically:
Calculate the ADR using the "ADR" indicator on the 15-minute chart.
Check if ADR is greater than or equal to "ADRThreshold1." If not, do not proceed with trading.
Calculate HH and LL using the "HHLLIndicator" on the 15-minute chart.
Calculate entry levels for buy and sell orders based on HH, LL, BuyStopAboveLL, and SellStopBelowHH.
Check for existing pending orders and delete them.
Place pending buy-stop and sell-stop orders at the calculated levels.
If "TrailingStepStop" is set to -1, set trailing stops for both buy and sell orders.
Create a function to delete pending orders called "DeletePendingOrders." This function should iterate through existing orders and delete buy-stop and sell-stop orders.
Create a function to set trailing stops called "SetTrailingStop." This function should calculate the appropriate trailing stop level based on the current price and trailing parameters.
Save and compile the script.
Attach the "ChannelBreakout.mq4" script to a 15-minute chart in MetaTrader.
Ensure that the "HHLLIndicator" and "ADR" indicators are properly installed and available in MetaTrader.
Test the script in a demo account to ensure it behaves as expected and follows the defined logic.
The strategy now it has erros and dont work as should
In the atachment you have all teh script and the EA the chart must display the
ADR =day value
Details aboout postions
Positions
SL
TP
Working/Slipping
Must work on any time frame and calculate the ADR
HH and LL lines above the candle
I need to know how long you need and how much you want to be pay the job is for 2-3 h max
Debug report
back testing report
No errors or warning
Zomm and interview is amust before job will be acceptd
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