Specification
EA Development - MT4 platform
I’m looking for a programmer to provide a quotation to develop an expert advisor based on the preliminary information indicated below. I had recently appointed a developer however he was unable to finish the task because of an “emergency family situation”, consequently the project has been re-advertised.
The Reset Expert Advisor is essentially based on the cross over triggers produced by the Traders Dynamic Index (TDI) developed by Dean Malone. The general specification adopted in this exercise is not necessarily based on the recommendations of Dean Malone, however the principles are the same.
This is very much a trend following strategy and should not be used in ranging markets.
Basically, I am looking for an impulsive move of the market then followed by a brief pause in concert with a pullback or market “reset” in which creates opportunity to enter the market as the trend resumes.
The strategy requires strong price momentum, usually following a major market reversal. The charts are kept relatively simple, and I base the entry decision on price action and the following filtering tools:
▪ Overall market volatility and price movement efficiency is checked
▪ Trend direction is established & determined by the TDI & MA’s on lower and higher time frames
▪ TDI crossovers identifies & confirms the pullback on the lower time frame
▪ Price action confirms the reset followed by an entry trigger candle and continuation of the trend
▪ Stochastic confirms the overbought/oversold positions in that move
▪ The extent of the pullback & the candle shape is measured against the moving averages
Before the TDI triggers can be acted on, certain Moving Average (EMA’s) & Price conditions have to be met as well, such that they must be trending or moving in the same direction as the higher time frame, despite the pullback.
Once trade(s) have been executed, the EA will implement typical trade management strategies to manage the trades to completion.
In addition to the above, I have added a trade strategy to capture swing reversals, given the fact execution is based on the TDI, Stochastic and Moving Average.
Lastly, the EA should incorporate the traditional alert systems giving advice of opened and closed positions and provide the usual variable settings to facilitate back testing. A full brief can be provided.