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Rules
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Specification
Need a CCI based EA/Robot in MQL5.
Attached Trading view snip should explain illustrate the conditions pretty well. Let me know if you have any questions.
Budget Open and negotiable based of Experience.
Indicator: CCI. Period: 100 to 125. (Provide as user Input, do not hard code so I can test what combination of CCI period along with timeframes gives best results after optimization on strategy tester)
BUY SIDE:
Entry Logic: Assumption for this example: Time frame - 30 Min, CCI period: 20, CCI Bands: -125 and +125. Trading Time Range 12.00 AM EST - 4.00 PM EST
BUY STOP ORDERS: Previous Key Candle HIGH +2 Pips. The Previous candle is Key candle that makes the CCI value move up from -125 towards Upside (that is -124,-123, -122 and above towards high side, I mean downside to upside)
Cancel BUY STOP ORDERS: And wait for next entry signal.
- If the trade doesn't get tagged in within next 3 candles and wait for next Key candle and entry condition to be satisfied for the entry.
- If the price goes back down to lower than -125 and below, before tagging me into the trade on the next 3 candles after placing the BUT STOP Order.
SL for BSO: Latest swing low - 3 pips or Lowest of two previous candles - 3 pips. (whichever is lower) Disregard trade if total SL becomes more than 40 Pips after EA calculation.
Target: Let EA calculate and set the take profit level based on my Risk to reward Ratio 1:3.
SL to Breakeven: Move SL to Breakeven to Entry Point + 2 Pips once the Trades gives me a profit of 1:1.5 Risk to Reward
Partial Booking: Provide option for Partial Booking Booking. I will switch it on if needed and select what % of the trade I wanna book partially.
Trailing Stop Loss: Provide option for Partial Booking Booking. I will switch it on if needed and make the selection to trail SL after partial booking from the previous step.
- Trail Stop Loss as per 50 EMA. Close the full trade when the candle closes below 50 EMA. Until then keep riding the trend for the remaining quantity of trade after partial booking.
SELL SIDE:
Entry Logic: Assumption for this example: Time frame - 30 Min, CCI period: 20, CCI Bands: -125 and +125. Trading Time Range 12.00 AM EST - 4.00 PM EST
SELL STOP ORDERS: Previous Key Candle LOW - 2 Pips. The Previous candle is Key candle that makes the CCI value move down from +125 towards Downside (that is 124,123, 122 and lower towards 0, I mean Upside to Downside)
Cancel SELL STOP ORDERS: And wait for next entry signal.
- If the trade doesn't get tagged in within next 3 candles and wait for next Key candle and entry condition to be satisfied for the entry.
- If the price goes back UP to Higher than +125 and above, before tagging me into the trade on the next 3 candles after placing the SELL STOP Order.
SL for SSO: Latest swing High + 3 pips or Highest of two previous candles + 3 pips. (whichever is lower). Disregard trade if total SL becomes more than 40 Pips after EA calculation.
Target: Let EA calculate and set the take profit level based on my Risk to reward Ratio 1:3.
SL to Breakeven: Move SL to Breakeven to Entry Point - 2 Pips once the Trades gives me a profit of 1:1.5 Risk to Reward
Partial Booking: Provide option for Partial Booking Booking. I will switch it on if needed and select what % of the trade I wanna book partially.
Trailing Stop Loss: Provide option for Partial Booking Booking. I will switch it on if needed and make the selection to trail SL after partial booking from the previous step.
- Trail Stop Loss as per 50 EMA. Close the full trade when the candle closes above 50 EMA. Until then keep riding the trend for the remaining quantity of trade after partial booking.
Currency Pairs: Two currency pairs for now. EUR-USD and GBP-USD. But would like to have it trade upto 5 pairs in future
Time Frame: 30 min. (Provide as user Input, do not hard code so I can test what combination of CCI period along with timeframes gives best results after optimization on strategy tester)
Trading Days: All 5 days of the week
Trading Time Range: 12.00 AM EST - 4.00 PM EST (Give as input to change the range. I wanna check how the strategy performs during different trading time ranges). This range is just to look for signal and open trades. If there is aan open trade that run beyond this range, let it run until reached SL or TP or BE.
No of Trades per Day:
- 1 Trade per day. (Always take the first signal satisfying the below entry logic with the selected Time range. If I change the trading time range, look for the first signal satisfying the below entry logic and take that trade only within that time range)
- If the trade hits Breakeven. Do not take 2nd trade for that day. Wait for the next days. Trading range time and all other entry conditions to open new trades.
Overlapping Trades: Allow overlapping of max of 4 open trades at a time. I mean If EA open a trade a on Day 1 and it never still running on the second day, and there is a new signal of second day, take that trade as well, and both are still active without reaching SL or TP or BE and continues to 3rd day and you find a new signal 3rd day, take that new trade on the 3rd day as well. And after you add 4th trade in any rare case this would happen don not open any new trades until one of the running trades closes.
Risk and Money Management:
Risk %: Keep default as 0.5% of Account balance. Give as input so I can change when I need. Facilitate an input to select Risk % for both currency pairs, so that I can change and use different risk among both if needed.
Some Standard Drawdown settings.
Max Loss in single trade: 2 Times the SL. In any unforeseen events if there is a huge slippage or news or anything for that matter close the trade if the price goes to 2 times SL.
Strategy Tester on MQL5:
Facilitate testing environment so that I can see the performance for the strategy for both currency separately and also combined for different combinations of rules mentioned above.