Candlestick Based E. A With Trade And Risk Management

Please note that I need all in put settings at chart also. I am uploading my previous E. A's screen shot also. All input settings will be safe in background settings also. Settings will also remain safe in case of expert advisor restart or MT5 restart. 

There will be option to change nominal things in this writing before final version.

Developer will not deny from that. Developer will provide source code also.

Developer will give sufficient time for testing the E. A

Appologies for missing these lines before. 

Basic Strategy:

E. A will keep last 5 candles data safe in it’s data base. It will safe high and low of last 5 candles in its data base and sixth candle will be current candle. Every candle has one high and one low. We will ask this high and low the pivot points. These pivot points will work to open new trades in special conditions which I will explain in next lines. We will ask the second last candle’s high low SET 1. Third last candle’s high low set 2, Fourth last candle’s high low set 3, Fifth last candle’s high low set 4 and Sixth last candle’s high low set 5.

To open new trade, we will use only set 1 value while we will use set 2, set 3, set 4, set 5 for trailing stop or stop limit purpose.

MAIN PORTION OF STRATEGY: If current candle breaks the high of set 1 ( Second last candle’s high ) with given value, then E. A will consider low of set 1 ( Second last candle’s low )  + given value as a sell point. If current candle only breaks one side of second last candle or set 1, then E. A will do nothing.

Now I will try to explain by one example. You can say that second last candle’s, high price is 100 and low price is 50. Now latest or current candle breaks high of second last candle which is 100 and it went at 105. Now if we set add on value at 6 + previous candle’s high, It means that no breakage of second last candle done but if we set add on value at 4 + previous candle then E. A will consider that breakage of second last candle has done and now low price of second last candle + given value is the selling point if price moves in same candle’s time frame. You can say that we set 3 + second last candle’s value, so if price went at 47, E. A will open new sell trade at 47. If price do not go at 47, E. A will do nothing.

We could set chart time frame in settings and E.A will follow that. If some time we set wrong time frame tab at chart, it will still follow the time interval which we will set in settings.

If we set time frame of chart at 5 minutes, and also set time interval 5 minutes in settings,E. A will work according to 5 minutes candle and if we set chart time frame by mistake at 4 hours, it will work according to 5 minutes time interval still.

1: E. A Working Date                       2025:01:05      Till  2025:01:10

2: E. A Working Hours                     01:05:00   Till  23:55:

3: E. A Working Time Interval        5M/10/30/60  ( All Time Frame Selectable )

4: Previous Candle Breakage Value Authentication

     In this box we will put the value to add with the high or low of previous candle to confirm the breakage value. For example, in upper example, we assume the previous candle high 100 and low 50. Now if we put value 10 here, E. A will consider breakage of previous candle when price will go above 110 or lower than 40. If we put value 2 in this box, E. A will consider previous candle breakage when price will go above 102 or lower than 48.  

5: Trade Initiate Value

   In this box we will put the value to add with the second side of candle to open real trade. For example, in point 4 clarification, previous candle breakage value done with 10 points and price went above 110, so now down side is no confirm selling point. Low price is 50. So if we put 5 in this section, E. A will open real trade when price will go down more than 50-5 = 45. Same as if breakage of previous candle was done in lower side first, by going price down more than 40, then high of previous candle +5 will be the buying point. E. A will open real trade when price will go above than 105 in current candle.

6: Minimum Candle Size

  In this box, we will put the value to validate the set 1 or previous candle value. If previous candle’s high minus low value will be more than this value, then E. A will use that candle as a previous candle. If previous candle size will be less than giving value, E. A will not consider that candle and wait until correct size candle created. For example,  we put the value of 20 in this box. Now previous candle high is 60 and low is 45. So it is total 15 points candle. It is less than our giving value of 20 points. So current candle will not took any action although it breaks the high or low side both. Current candle will not took any action.  E. A will consider candle as a previous candle when it will be larger than 20 points candle.

7: Magic Number

Need allocation of magic number to all open trades which will open by this E. A

8: Comments

E. A will use comments for all trades because we will use some time same instrument with same magic number but with different time frame. In this case, E. A will operate all it,s own opened trdes.

9: Work For Selected Symbols Only         True / False

If we set this at True and put symbol names in point 10 box, E. A will work for only those symbols.

10: Symbol Selection                    ( Box For Selection Or Writing Symbol Names )

11: Maximum Spread

E. A will not open any trade if symbol spread is wider than this value.

12: lot Size

13: Delay In Real Trade Order                   True / False

We could set time here. This time will be in seconds. We could set delay in seconds. E. A will delay in order placing when second side breakage done and confirmed for real trade open.

14: Value For Delay

15: Auto Stop                             True / False

  Auto stop means, when new trade opens, the other side of previous candle will be set as a stop automatically. For example, previous candle high is 100 and low is 50. Current candle first went at 110 ( 100+given value 10 ) and confirmed breakage of previous candle’s one side and then went at 45.  E. A will open real sell trade at 45 ( 50 - trade initiate value 5 which is in box 5 ). Now the upper side of previous candle price which is 100 + given value in point 14 will be the auto stop. If we put value 15 in point 14, then stop will be at 115 ( 100+15 ) automatically.

16: Auto Stop Add On value

In this box we will put value to add in previous candle’s high or low. Explanation is in point 13.

17: Auto Stop Settings             Set 1/Set 2/ Set 3/ Set 4/ Set 5 ( Selectable )

Now here is the time to explain why I wrote 5 set and one current candle in start of basic strategy. You can check that I cleared that there will be 6 candles data in E. A’s data base. One current candle and 5 behind it. We gave the names of those 5 candles set 1, to set 5. Now in auto stop drop down settings button, if we will set Set 1, E. A will use it,s high low for auto stop with add on value. If we will select set 5 in this button, E. A will that candle’s high low for auto stop.  

18: Manual Stop                         True / False

If we will set manual stop at true, auto stop will totally disabled and only manual stop will work according to it,s given value in point 17.

19: Manual Stop Distance          In Points Value

Here we will add value for manual stop.

20: Maximum Trades At Same Point

According to our strategy, E. A will count previous candle one side breakage but will not took any action until price breaks second side of candle and this second side breakage will be our first entry into real trade. Now if market price goes at other side of candle, E. A will close first trade and open in that direction and same vice versa. Now we need to set that how many time it will open or revers the trade? So if we set 1, E. A will open one time trade only at second side breakage. It will not open again and again in case of manual close of trade, or trade closed at loss or closed at profit. If we set it at 2, E. A could open two time the same trade if price touches again and again. But please not that second or third opening at same point will be in case first opened trade is closed.

21: Reverse Trade From Basic Strategy          True / False

According to our strategy, E. A will open trade at second side breakage of the previous candles high or low. If second breakage is at low side E. A will go to sell the real trade while if second breakage is at high side, E. A will buy from there. But if we will set this point 19 tab at true, E. A will open in buy direction if second breakage will at low side while it will go to sell direction if second breakage is at high side. If we set it at false, then strategy will work as normal.

22: Break Even Jump Active            True/False

23: Break Even Jump Value               15

24: Profit Jump 1 Activation       True / False

25: Profit Jump 1 Activation Value     25

26: Profit Jump 1 Stop At                      20

27: Trailing Stop Start From             30

28: Trailing Stop Step                           5

29: Final Profit Target                         200

30: Email Alert

E.A will send email with details that this instrument, opened at this price, closed at this price and profit loss is this.

31: Email Heading

32: Email Subject

33: Trades Only               Both Side/ Buy Side / Sell Side

34: Delay in placing orders

35: Today’s Starting Balance

36: Todays Current Balance

37: Todays Starting Equity

38: Todays Current Equity

39: Todays Current Profit / Loss

40: Close All Open Trades At Profit Value     True / False

E. A will close all open trades and will cancel all open orders when profit will reach at given value. It will also disable E. A till giving time frame.

41: Profit Value In Percentage        10    

41: Disable All E. A  Till         ( Time in hours and Minutes )

42:

Special Notes:

1: E. A will not open second time any trade if there is already opened trade in account with same time frame or same symbol.

2: If Manual stop is active, no auto stop or strategy stop will work.

3:  Auto stop will not work if manual stop will be lower than auto stop.

4: E. A will not open multiple trades with same instrument , or same magic number, or with same comments.

5: In point number 33, there will be option to select that E. A will work for sell side only or buy side only or both side trades.

 There will be option to change nominal things in this writing before final version. Developer will not deny from that. Developer will provide source code also. Developer will give sufficient time for testing the E. A

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