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I would like for an Expert Advisor to execute and manage trades based on the signals received from the Pipfinite Trend Pro indicator.
This will include setting adding Stop Loss and Risk / Order management to the existing indicator. Sample code from the authors is attached.
See below for more details.
I would like for an Expert Advisor to execute and manage trades based on the signals provided on the Pipfinite Trend Pro indicator.
Conditions for Trade:
Success Rate > [input1] %
(The indicator is showing 69.33% below)
This should create 3 orders. For a Buy signal it should create a pending order above the signal candle. The Stop Loss should be under the closest Low Fractal:
The signal is for a buy. There should be 3 pending orders [input2 Gap (points)] + spread above the signal candle (blue line)
The Stop Loss is set [input2 Gap (points)] point under the previous Fractal Low (red line).
Target 1 should be the first target the indicator suggests.
Target 2 should be the second target the indicator suggests.
Target 3 should be closed at the next signal.
The pending orders should expire after the candle close if they are not triggered and then set above the next candle. The targets should stay the same. These should stop when there is a new signal.
The image above shows the failed pending orders and Stop Loss in --- format, with the activated order in solid line. (The above example would create a better R:R for the trade.)
The same for Sell orders, pending order below the signal bar and Stop Loss above latest Fractal high.
Note: For Buy orders the pending orders should be [input2 Gap (points)] point + spread. Stop Loss should be [input2 Gap (points)] point below low fractal candle.
Sor Sell Orders, pending orders should be [input2 Gap (points)] point below signal candle. Stop Loss should be [input2 Gap (points)] point + spread below Stop Loss.
Risk Management:
I would need an input for the % Risk per trade.
I would also need % Risk for the 3 orders.
E.g.
Trade Risk (%) 1
Order 1 (%) 50
Order 2 (%) 25
Order 3 (%) 25
I would also like to be able to manage the Stop Loss to move to breakeven (+ spread) when Order 1 hits Target.
The inputs in total should be:
|
Trade Success Rate (%) |
Numeric e.g 65.5 |
The success rate should be greater than X to qualify to trade. |
|
Gap (points) |
Points 1,2,3 etc (10 points for a pip) |
This is the buffer + spread for buys or the buffer under sell candles as explained above. |
|
Fractal Candles |
Numeric (2) |
To specify the number of candles either side of Fractal candle. 2 would be 2 bars to the left and 2 to the right. |
|
Risk |
Equity or Balance |
|
|
Trade Risk (%) |
1.11 to 2 decimals |
% risk per trade for each signal. The orders are how this % is divided. |
|
Order 1 (%) |
% of split of the Trade Risk |
To target TP1 |
|
Order 2 (%) |
% of split of the Trade Risk |
To Target TP2 |
|
Order 3 (%) |
% of split of the Trade Risk |
To Close at opposite signal |
|
Orders to Break Even |
Yes / No |
Move Order 2 and 3 to Breakeven + Spread when Order 1 hits target |
More information about the Pipfinite Trend Pro indicator can be found in https://www.mql5.com/en/market/product/26888.