An EA for Trading Price Channel Break-out

MQL4 Experts

Job finished

Execution time 1 day
Feedback from customer
The best. I could not have asked for a better programmer to help me out on this. Will definitely recommend and work further with in the future. Punctual, attentive to details and structured work.
Feedback from employee
Great Customer ! It was a great and also easy experience, available most of the time, clear project details and very respectful. Looking forward to more projects in near future!

Specification

I am looking for someone to build an EA that trades price channel breakouts on MT4, a rather quite simple process.

I already found an open source Price Channel indicator which might be useful (Attached). It just draws lines on the high and low of the previous determined period's candles. I want the EA to be similar to the Channel-Breakout-strategy on tradingview (As per the photo)

I want the EA to open a BUY order when the price crosses/breaks the upper channel (from below) and then closes it when the price crosses/breaks the lower channel (from above) and opens a SELL order, and vice versa.

So the EA will continuously shift between a BUY and SELL order. When the condition for the BUY is triggered the sell is closed and a buy is opened and the other way around.

In regards to lot size, I would need the following to work: 

1st trade lot/size = 0.1

If previous trade's return < X (ex: 10$) ---> New trade lot/size = previous trade lot/size + Y (ex:0.1) 

else New trade lot/size = previous trade lot/size * Z(ex: 0,9)

So basically if the previous trade achieved a less than 10$ or negative result, the next trade will have a higher lot size by X amount. If the trade achieved more than 10$, then lot size is decreased by a percentage Z.



Hope that clarifies, let me know if you have any further questions.




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Project information

Budget
30+ USD
VAT (21%): 6.3 USD
Total: 36.3 USD
For the developer
27 USD