Specification
Hello fellow traders,
I'd like to make an EA, based on Master Candle indicator, which I modified for my manual trade.
The indicator, which i enclosed, all it did was to show master candle, which is a BIG candle that can "hold" multiple candle within OPEN and CLOSE price
the indi use this setting
the result as follows :
So, all it did was to show a BIG candle [candle 0], and i use indi settings minEngulfCandle = 3, so it means
"there must be 3 or more candle which has CLOSE price within OPEN and CLOSE price of candle 0"
and for a signal is deemed to be valid, candle 0 must be broken, in the above example, candle 0 broken by candle 4.
the most important thing here is CLOSING price, so candle 4's CLOSE price > candle 0's OPEN price.
so, of course, this is not valid, although candle 3 broke candle 0, but there are only 2 candle "inside" the BIG candle.
and also this, this is only 1 candle inside BIG candle :
and last but not least, this is not valid too, because candle 0, and candle that breaks is the same type, bullish and bullish, or bearish and bearish
After all that is sorted out, that is easy, just use fibonacci, fibo 100 is the CLOSE price that breaks, in the first example, candle 4
fibo 0 is the candle 0's CLOSE price
this is the picture :
I have already made an Indi from this community, https://www.mql5.com/en/job/113676
and i need to include that in this EA, it is just a simple calculation to count how big [in lot] an order must be opened
it is called simple measure in pips
so, this is an EA, parameter as follows :
- autotrade = true / false, if true, it will open trade based on the conditions, if false, it only shows the candle being break [the same with the indicator]
- autosignal = true / false, it will give alert or not based on candle break
- Global Distance [from simple measure]
- GlobalLots [from simple measure]
- fiboOPENlevel = dropdownchoice, 23.6,38,2, 50, 61.8, etc
- fiboSL = dropdownchoice = 0, 23.6, - 23.6, etc
- fiboTPlevel = dropdownchoice = 100, 161.8, etc
I need you to provide source code, i don't know it is a standard practice or not, because some gave and some didn't
I think that's all, you can consult with me first. I need someone to understand this concept first
PS: Feel free to modif [i will provide] the source code of this indi, or build from scratch, as long as it work
Thx