Specification
Hello everyone. I need to have my strategy coded into an expert advisor to use it on MetaTrader 5, particularly via MetaTrader 5's VPS.
The strategy I will explain in detail is very simple yet very powerful. Before I delve into the strategy details, please note that the EA should work on all Forex pairs, across all timeframes, and it should be possible to modify the lot size for each traded pair; this is very important. I will personally use the robot on major Forex pairs with a 15-minute timeframe. It's a highly mechanical and rather aggressive approach with no stop loss or take profits. Trades will be closed based on a specific condition. The strategy leverages three different indicators:
- 200-period Exponential Moving Average
- 2-period Relative Strength Index with an oversold level of 5 and overbought level of 95
- 5-period Simple Moving Average
Here's the strategy:
Open a buy position when the price is above the 200-period Exponential Moving Average (at the close of the candle), and the RSI is oversold, meaning it's below 5 (at the close of the candle). The trade should be closed when the price closes above the 5-period Simple Moving Average.
Open a sell position when the price is below the 200-period Exponential Moving Average (at the close of the candle), and the RSI is overbought, meaning it's above 95 (at the close of the candle). The trade should be closed when the price closes below the 5-period Simple Moving Average.
The strategy is simple!
Since the strategy doesn't incorporate a stop loss, I would like an "account stop loss" to be implemented so that in case of malfunction or anything else, the account can be secured by setting a total loss limit where the robot would stop trading.
If you're interested in the project, please write to me. I can provide you with more details and images illustrating the strategy if needed.
Thank you for reading my request! I look forward to your responses!