Market Making Algo

MQL4 Experts

Specification

I'm currently using MBTrading as they are an ECN that lets one post limit orders to their order book. One can even post limits inside the spread. I would like the algo to do the following

 

1) Only sell short limit orders will be used to open new orders. No open buy orders.

2) The only buy orders that should be used are for the Take Profit, which I will explain in point 4 below.

2) No market orders are to be used.

3)  I'd like to always have the best Ask price on MBTrading's order book for whatever currency pair I choose. In other words, if the best Ask price on EURUSD is 1.11494, then I want to be 1.11493. If, for example, their Ask price moves up to 1.11501 then I want my Limit Sell order to move to 1.11500. So I want my Ask price to move automatically.

4) If my Limit order is lifted then I want a Take Profit to be set to the best Bid price + 1/10 of a pip. So if my Limit order is lifted at 1.11500 and the best bid available is 1.11485 the I want my Take Profit to be set at 1.11486. I also want my Take Profit price to move if the market Bid moves. So, for example, if the market Bid moves up to 1.11489 then I want my Take Profit to move to 1.11490. If, instead, it moved down to 1.11482, then I want to be at 1.11483. The movement in the Take Profit shall be capped at the price at which my Limit Short order was executed. In other words, my Take Profit, should never go above the price where I sold short. If the best Bid price moves above the price at which I sold short, then leave the Take Profit at the price at which I sold short.

5) I should be able to enter the default Lot size each time I start the EA.

Is this possible? Thank you. 

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Project information

Budget
100 - 150 USD
For the developer
90 - 135 USD