Convert mt5 ea to mt4 and add few additional features

MQL4 Experts

Specification


Hi there,

I have an MT5 EA with its source code that I would like to convert to MT4 and enhance with additional features.

Currently, the EA functions as a cost-averaging and martingale EA. When I want to trade only buy or only sell, I place the EA on one chart. To trade both buy and sell, I place the EA on two charts. Each leg (buy and sell) operates independently with its own parameters. The EA does not use any indicators; trades open randomly as soon as the EA is attached to the chart.

Here are the current input parameters:
- Trade direction: buy or sell
- Initial lot size
- Lot size increase
- Max number of trades
- Pips distance between orders
- Increase distance every X trades
- Distance increase (pips)
- TP mode: 1) Pips 2) % of Balance 3) Dollar value
- TP increase on each trade
- Trailing stop loss mode: 1) Disabled 2) All basket 3) Only positive trades
- Trailing start (pips)
- Trailing stop loss (pips)
- Trailing step (pips)
- Enable hedge: True/False
- Hedge level (% drawdown)
- When Hedge, remove TP: True/False
- When Hedge, exit EA: True/False
- Equity protector: True/False
- Equity protector DD Level
- Chart Display: True/False
- Magic number

I would like to add the following features:

1. Reverse martingale option, opening subsequent trades at a lower lot size than the previous ones.
2. Option to open the first X number of trades at one lot size, the second X trades at another size, and the third X trades at yet another size, etc.
3. Communication between buy and sell legs. The new sequence will start by calculating the total lot size of the opposite leg. For example, if there are 20 sell trades at 0.05 lots each open, and the buy sequence just closed:
   - The new buy sequence will start at a) X percent of the cumulative lots of sells and the rest at X lot size, or b) the first X trades will be X percent each and the remainder at X lot size thereafter.
4. Sequence starting options:
   - Start the sequence immediately or X pips away in the opposite direction.
   - Allow both buy and sell trades to be placed as pending orders X pips away.
   - Start at X price.
5. Enhanced hedge feature. Currently, the EA calculates the total number of lots opened by the Martingale system at a predefined DD level (e.g., 20%) and opens one trade in the opposite direction to lock in losses. I want to add:
   - Staged hedging, where hedging can take place in stages (e.g., X % hedge at X DD, further X % hedge at X DD, etc.), allowing for partial hedging at different levels until fully hedged.
   - Removal of all take profits of open trades when hedged. Partial hedging will remove the TP of the percentage that is hedged.
6. TP increase: Currently, only the multiplier mode is available. I would like to add a pip step mode.
7. Max lot size for martingale: After reaching the max lot size, all trades will open at a specified size.
8. Stop loss for the grid: Implement a stop loss for the entire grid, closing all trades when the grid reaches a specified percentage or dollar drawdown.
9. Slippage protection: Add a feature to manage execution risk.
10. Volatility and scalping adjustments:
    - **Volatility-Based Adjustments:** Increase the spacing while reducing the lot size during such events. This can be achieved by:
      - Using a news filter to detect high-impact news.
      - Setting a minimum period before the next trade opens.
      - Setting a maximum number of trades within a specified period.
      - Implementing dynamic spacing to avoid opening too many trades during volatile movements. I'm open to other options you might suggest.
11. **On-Chart Display:** Currently, the EA displays:
    - Breakeven: price and pips
    - Drawdown: pips, dollars, percentage
    - Hedging: price and pips
    I would like to add:
    - Total sell and total buy values
    - Current open trades and potential profit
12. **Licensing System:** Include a licensing system that allows me to resell the EA or share it with others.

I am open to hearing other ideas that can be implemented to improve the quality, trading options, and risk/reward of this EA. Please let me know which of the above features you can implement and which you cannot.

Thanks!

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