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Specification
I need an App that does the following:
That allows opening a trade with the crosshair. The application must open the trade in real-time using as stop loss (SL) the distance in points I have measured with the crosshair. The trade should be opened as a BUY if the crosshair moved in the up direction and opened as a SELL if the crosshair moved in the down direction.
That's all it takes to open the trade with the crosshair. In an alternate App setup window, before placing the order, the App must allow you to pre-set the risk capital percentage per trade and the risk-reward ratio. In the end, the application will calculate the lot or position size with which it will open the trade using the free margin money (do not use the balance or the equity), the risk percentage and the stop loss calculated with the crosshair. When the take profit (TP) option is activated, the risk-reward ratio will only be used to calculate where to place the TP. The SL option must always be activated.
The application will not make decisions to close the trade. The trade is closed by touching the SL or TP; if the TP is disabled, the trade is closed manually by the trader.
In the App setup window, information about the candlesticks' timeframe (M1, H1, D1, etc.) is not needed because this information is implicit when the crosshair calculates the SL on an instrument with a time already selected.
The code must be fast to be used in scalping.
Technically this is not an EA but an application that allows opening an operation with money management.
The App should be able to be used on any Forex instrument or any other in MT5 like US30 etc.
The source code must be delivered after job completion and payment.
The App name is Scalp&Run.
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Example: When the App is open, it must activate the crosshair. When I click on the screen and hold to measure the SL, the App should place the order when I release the hold. If I measured the SL in the up direction, it should place a BUY order. If I measured the SL in the down direction, it should place a SELL order.
The position size to place an order only depends on 4 factors: free margin of balance in USD, risk in percentage, stop loss in points and pip value. For EURUSD pip value is 10, according to some websites, but I'm not sure how it is calculated for all instruments. Please check the excel file. Of these 4 factors, only 1 of them (risk %) is placed manually in the setup window, 1 comes out of the free margin balance of the account, 1 is implicit in the instrument (pip value), and the last one, the SL, comes out of the measurement made on the screen with the mouse. This is all that is needed when the TP option is disabled.
When the TP option is enabled, an additional calculation of where to place the TP is required. Basically, this is done with a factor multiplied by the SL that was calculated using the mouse. If the risk-reward ratio (RRR) is 1:2 then the factor is 2. If the RRR is 3:1 the factor is 1/3=0.33.
Excel file https://ln5.sync.com/dl/8f50e5130/hq43svwi-rvwbu5iz-57wvv3ww-wetefiad
I need the order to be placed automatically when I release the left mouse button. Because if I have to manually place the SL in points, that's going to take up valuable scalping time.
If the SL measured with the mouse is very large such that the resulting position size is less than 0.01 (the smallest lot in MT5), the order should NOT be placed. The App must give a notification message in this case.