Specification
Specification
EA TRADING LOGIC
Indicators to Use:
1. Simple Super Trend (For entry signal).
2. Advanced Fractal (For stop loss, trailing stop loss and re-entry).
Buy Entry Conditions:
1. A blue arrow from the super trend must appear below a closed candle. This is referred to as the signal candle.
2. A candle body must close above the high of the signal candle. This is referred to as the confirmation candle.
- If a candle closes above the high with a wick but not the body, the EA should wait until a candle body closes above the wicks of the following candles (one or more, as necessary).
3. Once the above conditions are met, the EA should enter the trade immediately after the confirmation candle closes.
Find the example below
(SEE PIC 1 in Attachment)
Sell Entry Conditions:
1. A red arrow from the super trend must appear above a closed candle. This is referred to as the signal candle.
2. A candle body must close below the low of the signal candle. This is referred to as the confirmation candle.
- If a candle closes below the low with a wick but not the body, the EA should wait until a candle body closes below the wicks of the following candles (one or more, as necessary).
3. Once the above conditions are met, the EA should enter the trade immediately after the confirmation candle closes.
Find the example below.
(SEE PIC 2 in Attachment)
Stop Loss (SL):
For Buy Trades:
- The SL should be placed a few pips below the candle with the current blue fractal.
For Sell Trades:
- The SL should be placed a few pips above the candle with the current red fractal.
Trailing Stop Loss:
For Buy Trades:
- The trailing SL should adjust to remain a few pips below the blue fractal.
For Sell Trades:
- The trailing SL should adjust to remain a few pips above the red fractal.
The number of pips should be adjustable as an input parameter.
Re-Entry Conditions:
If the trailing SL is hit-
For Buy Trades:
-Re-entry can occur after a candle body closes a few pips above the candle with the current red fractal.
For Sell Trades:
- Re-entry can occur after a candle body closes a few pips below the candle with the current blue fractal.
Find the example of a buy re-entry below.
(SEE PIC 3 in Attachment)
Exit Conditions:
Trades should close under any of the following conditions:
1. An opposite direction entry has been confirmed.
2. The SL is hit.
3. The trailing SL is hit.
Additional Features
- Risk Calculation:
- Option to manually input the lot size.
- Option to let the EA automatically pick the minimum lot size.
- Include a flexible risk calculation where the user can input the percentage of capital to risk.
- Account Restriction: Implement a feature that restricts the EA to one specific client account.
- Allow manual intervention (e.g., trailing stop or manual trade closure) without disrupting the EA's functionality.
- Automatically perform the following actions when an order reaches a 1:2 risk-to-reward ratio:
- Close half of the position (partial closure).
- Make this input optionable.
5. Include an option to select the trading mode:
- Buy Only
- Sell Only
- Both Buy and Sell
6. The number of pips/ points should be adjustable as an input parameter, when setting a stop loss.
7. Make the re-entry and trailing feature an optional input, so I can choose whether to use it or not.
8. Allow me to specify the risk-to-reward ratio for partial closing. I should be able to choose when the partial close happens—at a 1:1, 1:2, 1:0.5 ratio, or any custom ratio I input.
9. Add a toggle to switch between automatic and manual trailing stops, so I can disable the auto trailing if needed.
10. Close the Trade at a Specific Risk-to-Reward Ratio (R: R): (Take profit option.) I should be able to enable and disable this.
§ Add an option in the settings where you can choose a specific risk-to-reward ratio (e.g., 1:2) for the EA to automatically close the entire trade.
§ After the trade is closed, the EA will not immediately re-enter the same type of trade (e.g., a buy). It will only open a new trade if the opposite direction (e.g., a sell) is confirmed.
11. Move the Stop Loss (SL) to Break Even at a Specific R: R:
§ Add another option in the settings where you can choose a risk-to-reward ratio (e.g., 1:1) for the EA to automatically move the stop loss to the break-even point (the entry price). This helps secure your profits while reducing the risk of a loss if the market reverses.
More examples:
(SEE PIC 4 in Attachment)
(SEE PIC 5 in Attachment)
Qualifications for the Developer:
- Extensive experience in MQL5 EA development with a proven track record.
- Strong understanding of forex trading concepts like risk management, lot sizing, drawdown, and strategy implementation.
- Ability to implement customizable parameters (e.g., risk percentage, lot size, pip thresholds, exit strategies).
- Skilled in creating EAs suitable for backtesting and optimization.
- Delivers clean, efficient, and well-documented code.
- Provides after-sale support for bug fixes and minor adjustments.
- Excellent communication skills for understanding and implementing requirements.
- Adheres to secure coding practices to protect trading strategies.
- Consistently meets deadlines and delivers on time.
- Works within the specified budget without compromising quality.