Smash Day EA

MQL5 Experts

Job finished

Execution time 7 days
Feedback from customer
Le did a great job on our first EA together, adding enhancements that made it even better. I'm already discussing our next EA and I look forward to working together with him again.
Feedback from employee
Thank you! 5⭐

Specification

INTRO

The purpose of this job is to create an EA based on Larry Williams' Smash Day. This pattern suggests that the current impulse of the price movement has a higher possibility of a reversal after closing above/below the last extremes. Such a trading day is called "Smash" (or reversal) because it precedes a change in the current price direction. When such a day forms, the market leaps up-or downwards, closing behind the previous highs/lows. At this moment, all the traders who were late attempt to enter, counting on the continuation of the movement. However, the price could retrace and form a Smash Day reversal pattern.

LONG TRADE:


This is a day of increased volatility in a descending price movement that closes below the low of the previous session and is also the lowest close for a set number of days (default is 8). Place a buy stop order such that, if the price moves in the opposite direction and takes out the high of the Smash Day, a long position is opened with a stop loss a set number of pips below the low of the Smash Day (default is 10).


Long Smash Day

SHORT TRADE:

This reversal pattern also forms from a day of increased volatility on the market — this time in an ascending price movement. The day closes above the previous high and higher than the highs of the previous 8 days. Place the sell stop order so if the price takes out the low of the Smash Day, a short position is opened with a stop loss 10 pips above the high of the Smash Day.


LONG SHORT EXITS


There are three possible exit strategies that need to be included:

1.            First profitable close - after the close of the first profitable day, exit at the open of the next day.

2.            Set number of days - exit after a set number of days irrespective of whether in profit or not (default is 8).

3.            Profit target – exit at a multiple of the stop loss (default is 2 x SL).


ADDITIONAL CONSIDERATIONS

  • The default period of time that the EA waits within the range of the Smash Day for a break is 1 day.
  • Only one trade at a time is allowed.

ADDITIONAL REQUIREMENTS

  • Both the ex5 and mq5 files need to be delivered.
  • All the parameters mentioned above need to be configurable from the Inputs page to allow for optimization.

ADDITIONAL CONFIGURATIONS

Time Configuration

  • GMT Mode
  • Manual GMT
  • Auto GMT
  • Manual GMT Offset
  • Monday Trade
  • Tuesday Trade
  • Wednesday Trade
  • Thursday Trade
  • Friday Trade

Lot Management

  • Lots Type
  • Equity Percentage
  • Fixed Lotsize
  • Lots Base on XBalance
  • Equity Percent
  • Fixed Lots
  • XBalance
  • Lotsize per XBalance
  • Max Lots

Basic EA Configurations

  • Magic number
  • Trade Comment
  • Max Spread
  • Max Slippage























































































































































































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Project information

Budget
80+ USD
For the developer
72 USD
Deadline
from 1 to 3 day(s)