Two SMA Strategy

MQL5 Experts

Job finished

Execution time 21 days

Specification

Definitions: Two SMA and Three Stop Loss Strategy
General Parameters
Account TEST Test Account
TimeFrame 30m 30m - represents 30 mins for the Timeframe, or window, for the candle/bar to be assessed. Timeframe input can vary, e.g. 5 min, 15 mins, 60 mins, 240 mins, etc
Note: All time is to within the tic (or smallest amount, for example 1 sec)
LotSize 10 The lot size being traded, ex: 10 means 10x leverage; lot size is variable
Symbol EUR/USD The currency pair being traded. Applies to any currency pair.
ON / OFF ON "ON" means the robot is running; "OFF" means the robot is disabled and not running.
System Logic Parameters
Note: All pip amounts are to the accuracy of: 0.00001 (e.g. EUR/USD) and 0.001 (e.g. USD/JPY); in otherwords, one-tenth (1/10) of a pip.
SMABase 100 100 SMA is the baseline SMA used by the strategy to determine if the currency price is bullish (e.g. 30 SMA above the 100 SMA) or bearish (e.g. 30 SMA is below the 100 SMA). This input value is a variable.
SMACross 30 30 SMA is the cross SMA used by the strategy to determine the EntryPrice when the currency price crosses from below the 100 SMA and closes at or above the 100 SMA from the Timeframe start to end (e.g. on a 30 min chart) for a bullish/long trade; or the currency price crosses from above the 30 SMA and closes at or below the 30 SMA from the Timeframe start to end (e.g. on a 30 min chart) for a bearish/short trade.
-For example, when the currency pair price is above the 100 SMA, and the price closes below the 30 SMA and on the next candle closes at or above the 30 SMA, then enter the trade - place a Buy order.
-For example, when the currency pair price is below the 100 SMA, and the price closes above the 30 SMA and on the next candle closes at or below the 30 SMA, then enter the trade - place a Sell order.
CandleMax 70 This maximum (delta) number represents the maximum value (High minus Low) for that candle/bar that crosses the SMACross for possibl entry. This CandleMax prevents excessively large bullsh or bearish price movement for that Timeframe from being considered before entering a trade. If the candle/bar for that TimeFrame is greater than the CandleMax, then do NOT enter the trade and wait for another opportunity.
SMADelta 10 This is an added decision factor. The difference in the 30 SMA value and the 100 SMA value - at the current time the candle/bar crosses the 30 SMA - must be greater than this pip value, or do not enter the trade and wait for another opportunity. For example, when the price closes above, or below, the 30 SMA, if the absolute value of the difference between the 30 SMA and the 100 SMA is greater than 10 pips, enter the trade.
UseEntryOrders Yes If 'Yes' then use Entry Order to enter trade; if 'No' then use Market Order to enter trade.
NOTE: Exit, or close, of trade is always based on Market Order.
EntryPrice The price the trade is entered at.
PriceMove 3 The price movement is the amount the next candle/bar price must move in the direction of the trade: buy or sell, to trigger the trade entry. For example, at time = 0, trade is confirmed to meet the criteria; then at time = 1 (the next candle/bar), the price must move in the direction of the trade, bullish/buy entry is up, bearish/sell entry is down. If the candle's price at end of time = 1, does NOT exceed the PriceMove value (e.g. 3), then exit the trade.
InitialStop Buy profit: 10
Initial stop: -12

Sell profit: -10
Initial stop: +12
Two inputs. An InitialStop stop loss level is set based on the EntryPrice (e.g. 1.1122) of the currency pair in the first period after entering the trade. For example, for a 30 mins chart, when the trade is entered on the price close at 8:59:59 am, the 30 mins ends at 9:29:59 am.
At the end of that 30 mins (and based on the close price) if the currency pair price has not exceeded a certain selectable profit target, e.g. 10 (for 10 pips above the entry price for a Buy entry), then if the currency price pulls back during that 30 mins, the InitialStop will exit the trade. The InitialStop can be inputted as: -12 (for -12 pips below the EntryPrice, for example). The opposite applies for a Sell entry.
If the profit price reached is equal or greater than 10 for Buy (or equal to or less than -10 for a Sell), then the InitialStop criterion has been met.
TrailingStop 30 A TrailingStop loss becomes active (i.e. is enabled) after the InitialStop criterion has been reached. The TrailingStop moves up (when price moves up for a Buy trade) and moves down (when the price moves down for a Sell trade). This is the standard trailing stop, for example, 30 (for 30 pips). When the price pulls back and reaches this (stop) price, the trade is closed.
AdjustStop An AdjustStop loss level is active set (i.e. is enabled) after the TakeProfit1 target is reached, e.g. 20 pips. And this AdjustStop level moves to breakeven when TakeProfit1 is reached, i.e. if the currency price pulls back to breakeven (i.e. the EntryPrice), the trade is exited.
Trading Time Parameters
DailyStartTime 08:00.0 This time is the Close at 07:59.59
DailyEndTime 14:00.0 This time is the Close at 13:59.59. A zero '0' means there is no end time for the current day and the robot runs 24 hrs until 5 pm (east coast time) on Friday.
NoSundayTrading Yes When 'Yes', means no Sunday trading. Trading starts after 11:59:59 pm Sunday eastern time (or on Monday morning).
Money Management Parameters
TakeProfit1 20 20 pips is the first profit level (i.e. TakeProfit1) for the trade to automatically exit the initial open lots; trade closes using market order price.
CloseLots1 6 Based on a leverage of 10 lots, 6 lots represents the number of lots to be closed.
TakeProfit2 20 20 pips is the second profit level (i.e. TakeProfit2) above the TakeProfit1 price for the trade to automatically exit the remaining open lots; a zero ('0') disables this feature; trade closes using market order price.
CloseLots2 4 Based on a leverage of 10 lots, 4 are the remaining lots to be closed, and 4 + 6 must add to 10, built into the logic.
NOTE: TakeProfit1, TakeProfit2, and TrailingStop can be dynamically changed when the trade is active so as to close a trade sooner.

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Project information

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