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Rules
Job finished
Specification
Want an Expert Advisor that has a few different options.
An option that allows the user to select one of three methods of trading
1. EA trades only in the buy direction.
2. EA trades only in the sell direction
3. EA alternates directions. The first trade is a buy, the second trade is a sell, the third trade is a buy, the fourth trade is a sell etc.........
Three money management options (any one can be selected by the user)
1. Martingale
- If a trade hits the stop loss and is a loser. The program immediately opens another trade at double the previous lot size. For Example - Trade #1 is 1 lot and hit stop loss, open trade 2 at 2 lots, trade two hits the stop loss double to 4 lots etc............ (this is designed as an example, actual amounts will be a ratio of the beginning lot amount)
-After a trade hits the take profit restart the sequence from the beginning. At the beginning lot amount (set by user).
-If the first trade is a winner and hits the take profit then immediately open another trade at the beginning lot amount (set by user)
2. Modified Martingale
- If the trade hits the stop loss and is a loser increase the lot size by the following sequence (original trade amount set by user, these are ratios being used here).
Trade 1 = 1
Trade 2 = 2
Trade 3 = 4
Trade 4 = 6
Trade 5 = 9
Trade 6 = 12
Trade 7 = 16
Trade 8 = 20
Trade 9 = 25
Trade 10 = 30
Trade 11 = 36
Trade 12 = 42
Trade 13 = 49
Trade 14 = 56
Trade 15 = 64
Trade 16 = 72
etc......
- When there is a winner that hits the take profit, restart the sequence from the beginning. Open another trade immediately.
3. Additional Money Management Strategy
- This is a simple money management strategy. Similar trading concept as above. (Ratio's)
Trade 1 = 1
Trade 2 = 2
Trade 3 = 3
Trade 4 = 4
Trade 5 = 5
Trade 6 = 6
Trade 7 = 7
Trade 8 = 8
Trade 9 = 9
Trade 10 = 10
Trade 11 = 11
Trade 12 = 12
Trade 13 = 13
Trade 14 = 14
Trade 15 = 15
Trade 16 = 16
Etc …………
- The difference is if you lose a trade you increase by one number in the series. If you win a trade you decrease by one number in the series.
- You don’t restart from the value for trade 1 each time. You increase or decrease based upon the current position in the series.
- If you win, you go down one value. If you lose you go up one value.
Kill Switch toggle (two options)
#1 - once the account equity has increased more than 100% from beginning equity. Close all trades and end the program.
#2 - Continue trading after the equity has increased 100% from beginning equity.
General Rules
- Stop loss can be set by the user (it will remain the same with each trade, must be customizable by user). X pips from the starting point of that particular trade.
- Take profit can be set by the user (it will remain the same with each trade, must be customizable by user). X pips from the starting point of that particular trade.
-There should be a trailing take profit (not sure if this is the right term) that allows the winners to increase further than the predefined amount. The user should be able to input the number of pips that the trailing take profit follows the trade. For example, stop less is set at 15 pips. Take profit level is 15 pips. If the price continues to increase past 15 pips the trade should be left open until the price goes back down X pips.
- As soon as a trade is closed, open another.
-User selects the beginning trade size manually. Should be able to select any size to begin the sequence.
-Should be able to attach to use on any currency pairs.
-Should be able to run on multiple currency pairs at a time.
If you have any questions please ask. I know how to code, so it should be easy to address your questions.