Trade Panel (Interactable Display & Multiple Background Trade Management modes) Open to suggestions/doilogue on solution

Job finished

Execution time 17 days
Feedback from customer
Very Proffessional, Executed my order swiftly and made exactly what I wanted.
Feedback from employee
Perfect. Pleasant working with him. Strongly recommended customer.

Specification

Trade Panel Requirements


Basically I need something that can work out all the risks and handle trade management for me after I've placed a trade. I need a way to be able to switch between 4 different types of trade management. I also need some things displayed on the chart.


Creation of trade panel:


I would like a trade panel created in which all the background operations such as position management and everything listed below is automatically done. However the initialization of a trade is only done after I click to do so. I would like the be able to select which Trade management mode each individual trade uses 

I would like this EA to run whilst I am away from the computer. i.e handle orders and manage positions as per my ruleset without me being present. This is a must. 


Open to suggestions on how what I need can be achieved. 


I need the trade panel to have 4 different modes of trade management:


  1. Pyramiding 

  2. 75/25 

  3. Fixed

  4. 50/50


Trade Panel:


  1. Pyramiding - The Way I would like this to work is basically, I would like to be able to build into and pyramid positions. Example: Enter under the assumption of a trend beginning, say I put a long trade on with a 0.1 lot, say I get another signal or a pull back I then enter again at 0.1 but at a higher price. I would like the SL for both positions to be the same fixed distance from the close of the high of any candles that follow after. Then the moment there is any threat to the trend the SL moves up by 50% and then 50% again if another adverse candle is expressed. 

  2. 75/25 - The position is to be partially closed based on a certain multiple of the ATR target having been hit. Example: TP = 0.5 x ATR, once price has moved that distance away from entry, 75% of position is closed. The percentage of the trade to be closed is defined by the user.

  3. Fixed - The position to be closed fully once a TP set by the user is hit. SL is Fixed. TP should be Half if Volume is red when opened.

  4. 50/50 - Pull half off and let the other half run, More SL to ½ or BE.


TP & SL will be determined by a multiple of the ATR set by the user. I.e. TP = 2xATR/SL = 1.5xATR 


Market profiling should be always done on the candle just gone. Should a trade be entered based on anything the ruleset should continue to use the original ATR value of the candle the trade was entered on.

eg: trade 1 is at 2% risk(VAR) and is a reversal trade. Trade 2 is an initial trend entry trade at 1% risk(VAR). Trade 1’s SL, TP and reversal trade rulest, should still adhere to the original inputs on the panel for that trade. Despite new inputs being made to the panel for trade 2.


I would like the account info displayed on the panel: Spread:(for the asset in which the panel is on), Current P/L(whole account), opened volume, opened positions: (number of), Swap total, pips (no. pips in profit or loss), CA%R (Current overall account % return), Day P/L:(in GBP), Day P/L %(The days % P/L), ATR Range Display (bottom left of the panel). I would like the account info to be in GBP denomination.

If the panel is not looking possible, can this data be shown through comments in the top left of the screen.

An Alert system that can send signals just before a candle closes and just after the close:


I would like a function that I can add to and change that analyses a candle a certain specified time before close. I would like to be able to change the time before close in which the candle is accessed, and which time frame this data is taken from. For example 10 mins before close on the H1 timeframe.  


Trade signals:

This is the trade condition ruleset I would like you to program in for the automated trading algorithm.

Trend trades:


Long:

Force1 < 0 && Force > 0


Short:

Force1 > 0 && Force < 0


Reversal Trades:


Long:

Force > 0 && %R < -80 (Oversold) 


Short:

Force < 0 && %R > -20 (Overbought) 


D1 ATR Range Displayed:


After the close of the final candle for the day. (12:00/00:00 at open) I would like two horizontal lines to be placed on the price chart. The levels of these lines will be based on the 1 x ATR value from the previous day on the D1 time frame. This value will be taken and presented after the close at the 12:00/00:00 candle and shown on the H1 time frame chart. I want this line to be presented at the same level on each new bar, until the (12:00/00:00) open is reached in which the new ATR value based on the day just gone is presented. I would like this to be the default but be able to be changed. So for example change the ATR period and which timeframe it is taken from. 

As part of the panel and in the original framework I would like the percentage of which the price has moved away from the open of the candle for the H1 timeframe of 12:00/00:00, to the bounds set based on the D1 ATR value. So for example let's say on the 25/11/2021, EURUSD the ATR(period of 5) value at close on the D1 timeframe was 0.005587. This means that the lines above and below would be at 1.12060+-0.00558. Which are 1.12618 and 1.11502. The panel should then display, at the time, what percentage price has moved off the 1 x D1 ATR value, above or below the open price for the start of the day on the H1 timeframe. In this example case, let's use a bar close value. At 08:00 the price was 1.12316. This value is 25.6 pips in a positive direction. 25.6/55.8x100=45.8%. 45.8% of the expected daily move given the D1 ATR value is then expressed in the panel to the user.


Background trade management:


When a buy or sell reversal trade is selected and clicked by the user, I would like the trade management to operate as follows:


  • ATR SL based 2 x ATR away from entry. Multiplier should be able to be varied by the user on the panel)

  • Should continued strength be shown by the force index in the adverse direction or a green bar be shown by the BWMFI on the next candle, move the stop loss up by half. However if this is not a viable option because the close is already more than 1 x ATR away from the entry in the wrong direction then the trade should be closed immediately. Based on user input the SL should be at a fixed level, until signals for change should come from the BWMFI or force index. (I would like this to be able to be turned on and off by the user.)


When an initial buy or sell trend trade is selected and clicked by the user, I would like the trade management to operate as follows:


  • ATR SL to be initially based 2 x ATR away from entry. (Able multiplier should be able to be varied by the user on the panel)

  • Should strength not continue to be expressed by the force index (by higher or lower value), the SL should be moved up/down by half. So, for example if stop loss is 20 pips away from entry, should the trend be considered weakening, SL is moved to 10 pips away from entry. (Able to be turned on and off by the user.)

  • If a weakening signal is given and the price has already closed beyond 1 x ATR in the adverse direction by the close of the new candle, the trade should close immediately as It would be illogical to move the SL in front of price. (This Does not happen on reversal trades)

Would like a way to switch between both manually, So I can select which ruleset I would like the trade to follow once the position has opened. 

Static trailing SL function:


So the idea with this is that if I enter a long trade for example my Sl starts at the initial level set by the user. When the price goes in the desired direction the new ATR value on the new candle just closed is used. The SL for that position is now moved up. How much it has moved up by depends on the close of that candle. So the SL of that position should now be Y(2 by default) x ATR away from the close of that new candle. 


So to better grasp the idea here is an example. Say I have a long trade opened at 1.18375 on EUR/USD at the open of the next candle. SL is set at  2 x ATR(0.00104)=0.00208 below 1.18375, which would be at 1.18167. This candle then closes at 1.18441. SL at the open of the next candle is now set to 2 x ATR(0.00101)=0.00202 from 1.18441, which would be 1.18239. This third candle then closes at 1.18541. SL at the open of the next candle is now set to 2 x ATR(0.00098)=0.00196 from 1.18541, which would be 1.18345. This means that the SL for that position has now reduced the VAR for that position. Max loss on that position, assuming 2% on the trade, is now significantly reduced. SL is now 3 pips below the initial entry price, 1.18375-1.18345=0.0003. The original potential 2% loss, which at 2 x ATR was 20.8 pips, has now been reduced to an overall possible loss of 0.288%. 3/20.8=0.144. Potential max loss is now 14.4% of the initial position's value. 0.144x2(%)=0.288%.


If the BWMFI shows any signal that is considered a threat to the current position the SL is brought up by half. This happens after the close of the candle, as the threat to the position is only confirmed after the close. So for example any trend trade in which the candle closes after the initial entry has a brown bar shown by the BWMFI risk should immediately be cut in half. If this happens after the initial entry then the risk is cut in half immediately it overrides the above ruleset. The only reason in which this override would be ignored is if The new SL value that is based on 2 x ATR from the new candle close is closer to the entry price than bringing the SL up by half, as it would only reduce risk further which is a good thing.

 

In the situation that the ATR value increases on that next candle, modification to the SL can only occur if the modification does not go past the initial SL. Due to the SL not being able to be set further away from where it was initially set, prevents more being at risk on the trade.


Asset analyser:


I'm not quite sure on how this can be done exactly but as part of the trade panel I would like to be able to analyse and get signals from all assets, to save time and not have to go through all the assets I would like to trade. I would like to be able to customise and change what indicators I can use in this and have the signals I create to be able to be sent to my phone. Would this be a mqh.file? Can something like this be made without having to run an individual EA on each asset? Or does it make more sense to run this as part of each trade panel on each asset.


Position closing:


Should a number of positions be built up, and then a brown bar is shown by the BWMFI I would like the other positions that were opened before the last to also close based on the SL of the most recent position. This should only affect initial entry and re-etnry trades. Each and every Reversal trade should be considered independent of each other. I would like this to be a function that I can turn on and off.


To summarise requirements:


Main requirements:


  • Manual Trade Panel

  • Make Trades based on the listed signals

  • 4 Trade management Types (Background trade management as listed)

  • Asset Analyser

  • Alert system just before candle close, and at close

  • ATR range displayed

  • Static Trailing SL Function

  • Position Closing 


Sub Requirements:


  • Include the market facilitation index.

  • I would like an option to change the ATR multiplier on the panel/settings if panel not possible

  • Message sent to the users phone about when the trades closed and why.

  • Ability to vary the level of risk on each trade.

  • Ability to change the static trailing SL ATR Value. 

  • All trades to be automatically closed at the open of the last hour of the week. An hour before the market closes (Would like this to adapt to the UK time)

  • Static trailing SL function that can be switched on and off for each trade.

  • Be able to switch “Close half at TP1” on and off.


By the end I would like two things. A manual trading panel or way to manually trade based on the specification (includes Main and sub requirements), and for all the background functions to be compatible and able to run on backtest. I would also like comments listing what each part does.

 I am also open to further discussion on changing the Spec if what I need can be achieved in a simpler way 





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Project information

Budget
400 - 600 USD
For the developer
360 - 540 USD
Deadline
to 20 day(s)