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I require a range breakout EA for MT4. Once the EA is attached to the chart it will monitor a break of a timed range. It will set pending orders above and below the range. Once a trade is triggered then the other pending order will be cancelled. Please kindly see attachment. If you have already developed a range breakout or candle breakout EA then this would be ideal. Will consider all highly skilled candidates regardless of breakout experience.
The EA will allow multiple trades to be triggered on the same chart, for example London range breakout, New York breakout. To be repeated the following day. Can discuss whether it is better to have multiple instances of EA with different magic numbers on same chart or build in 2 or 3 extra time range parameters within EA. Also there is a possibility of profitable trades overlapping into the next day. The parameters are as follows;
BREAKOUT Parameters
Trading settings:
- Start time to track HIGH/LOW - time when the EA start monitoring and tracking highs and lows;
- End time to track HIGH/LOW - time when the EA stop monitoring and tracking highs and lows;
- Distance from HIGH/LOW – distance in pips from actual levels of highs or lows before pending orders are executed to avoid bad breakouts;
- Delete pending orders after X minutes if not engaged – delete the orders in market if price level did not reach any of the pending orders;
- Maximum range size - in pips. If range is too large then no trades placed
- Minimum range size – in pips. If range is too small then no trades placed
- OCO One cancels other – if one order is executed then the other is cancelled;
- Take Profit – in pips;
- Stop Loss – in pips;
- Use the range size as Stop Loss instead – true/false
Trade size:
- Fixed lots – lots from 0.01;
Trading day settings condition:
- Trade on Sundays;
- Trade on Mondays;
- Trade on Tuesdays;
- Trade on Wednesdays;
- Trade on Thursdays;
- Trade on Fridays;
- Trade on Saturdays.
Trailing Stop settings:
- Enable Trailing Stop – true or false;
- Trailing Stop Start Level – in pips;
- Trailing Stop Distance – in pips.
Break Even Settings:
- Enable Break Even – true or false;
- Break Even Level – in pips;
Partial Close:
· Enable Partial Close – true false;
· Target Level – in pips
· Part Close Trade – in %
General Settings:
- Max Slippage. Don’t place orders if already moved this far from pending order – in pips;
- Spread limit. If spread goes past this (in pips) then don’t place trade/cancel pending – in pips;
- Magic Number – unique number attached to EA.