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Rules
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Specification
I need a simple EA which compiles with both trend and choppiness indicators for MT4 platform.
Should be able to enter/change these values in EA:
1. This should not have default TP ( Close the order with Profit until the opposite trend is generated ) but can be changed from EA
2. This should have default SL ( with very minimum value ) and also can be changed from EA
3. Option to choose if Buy is based on Choppiness indicator. ( Ex: If Yes is checked / entered Buy will be based only on Choppiness )
4. Option to choose if Sell is based on Choppiness indicator. ( Ex: If Yes is checked / entered Sell will be based only on Choppiness )
5. Option to choose if Buy is based on Trend indicator. ( Ex: If Yes is checked / entered Buy will be based only on Trend)
6. Option to choose if Sell is based on Trend indicator. ( Ex: If Yes is checked / entered Sell will be based only on Trend )
7. Number of Lots
8. Currency pairs to be executed (Comma separated)-- default to GBP/USD, USD/JPY
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9. Buy should happen from super Trend but based on Buy from Chopiness first, similarly Sell , by default
10. By default number of lots should be 0.01
11. Enable Logs and also log in Journal
12. All other currency pairs should be able to execute if given.
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- It uses a moving (statistical) median of the arithmetic mean (High + Low)/2 of the bars instead of a moving average. The (statistical) median is known to be more robust than any average.
- It calculates both the Median and the ATR (average true range) 1 bar ago, whereas the original SuperTrend indicator takes the ATR and moving average of the current bar. If you use the current bar’s ATR, the current bar’s breakout is partly measured against its own range. This is particularly true, if the ATR period is short.
- Signals: The Non Repaiting SuperTrend indicator gives a reversal signal, when the bar closes on the other side of the stop line.
- Magnified Market Price added for instant check of current market price
A buy signal is generated when-
1. As soon as Blue arrow is generated or to be generated
Similarly, sell signal is generated when the following conditions are satisfied-
1. As soon as Red arrow is generated or to be generated
This Buy or Sell order will close with Profit until the opposite trend is started and start a new one again.
Refer link -> https://www.mql5.com/en/code/10851 -- Super Trend Indicator
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Choppiness Indicator details:
A buy signal is generated when-
1. RSI is above 60
2. Choppiness Index closes below the lower threshold level of 38.2.
3. Simultaneously, ADX cuts 20 level from below
Similarly, sell signal is generated when the following conditions are satisfied-
1. RSI is above 40
2. Choppiness Index closes below the lower threshold level of 38.2.
3. Simultaneously, ADX cuts 20 level from below
Refer link --> https://www.elearnmarkets.com/blog/understand-trending-consolidation-phase-using-choppiness-index/