Simple rule based EA entry system

MQL4 Experts

Job finished

Execution time 16 days

Specification

At set price levels, this EA will check the current open positions of the account and change them based on the following rules:


At set price level (up to 10 levels inputted into EA settings) - check open positions and:

1. Close any positive position and any position in its direction

2. Close any negative position that is 1 unit (size of unit will be in settings, e.g. 1 unit = 0.1 lots) less than (1) position. If there are two of the same size - close the oldest one. 

3. Open position 1 unit higher opposite to remaining negative position 

4. Open one position of 1 unit opposite to position 3


Before making any position changes:

1. If spread is > x points - do not activate EA & email trader

2. If slippage > x points - do not activate EA & email trader


Example 1:

1 unit = 1 lot

Open positions:

1. Opened at 10am - Buy 1 lot (currently negative)

2. Opened at 10am - Sell 1 lot (currently positive)


At set price level EA would:

1. Close any positive position and any position in its direction

(Close position 2)

2. Close any negative position that is 1 unit (size of unit will be in settings, e.g. 1 unit = 0.1 lots) less than (1) position. If there are two of the same size - close the oldest one. 

(Not applicable)

3. Open position 1 unit higher opposite to remaining negative position 

(Open Sell 2 lots)

4. Open one position of 1 unit opposite to position 3

(Open Buy 1 lot)


Example 2:

1 unit = 1 lot

Open positions:

1. Opened at 8am -  Buy 1 lot (currently negative)

2. Opened at 10am - Buy 1 lot (currently negative)

3. Opened at 10am - Sell 2 lots (currently positive)


At set price level EA would:

1. Close any positive position and any position in its direction

(Close position 3)

2. Close any negative position that is 1 unit (size of unit will be in settings, e.g. 1 unit = 0.1 lots) less than (1) position. If there are two of the same size - close the oldest one. 

(Close position 1 - there are two but this is the oldest one)

3. Open position 1 unit higher opposite to remaining negative position 

(Open Sell 2 lots)

4. Open one position of 1 unit opposite to position 3

(Open Buy 1 lot)


Example 3:

1 unit = 1 lot

Open positions:

1. Opened at 8am -  Buy 1 lot (currently positive)

2. Opened at 10am - Buy 1 lot (currently positive)

3. Opened at 10am - Sell 2 lots (currently negative)


At set price level EA would:

1. Close any positive position and any position in its direction

(Close position 1 and 2)

2. Close any negative position that is 1 unit (size of unit will be in settings, e.g. 1 unit = 0.1 lots) less than (1) position. If there are two of the same size - close the oldest one. 

(Not applicable)

3. Open position 1 unit higher opposite to remaining negative position 

(Open Buy 3 lots)

4. Open one position of 1 unit opposite to position 3

(Open Sell 1 lot)


Example 4:

1 unit = 1 lot

Open positions:

1. Opened at 8am -  Sell 3 lots (currently negative)

2. Opened at 10am - Sell 1 lot (currently negative)

3. Opened at 10am - Buy 4 lots (currently positive)


At set price level EA would:

1. Close any positive position and any position in its direction

(Close position 3)

2. Close any negative position that is 1 unit (size of unit will be in settings, e.g. 1 unit = 0.1 lots) less than (1) position. If there are two of the same size - close the oldest one. 

(Close position 1)

3. Open position 1 unit higher opposite to remaining negative position 

(Open Buy 2 lots)

4. Open one position of 1 unit opposite to position 3

(Open Sell 1 lot)


Input settings for EA:

- 10 price levels

- Lot size of 1 unit

- Max spread size in points

- Max slippage size in points

- Option to email trader every time EA is activated and if spread/slippage max is hit



Please ask if any questions or clarifications needed.

Please provide demo for testing before finalization of job.


Thanks!

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