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Hello,
I am looking for an EA based on RSI (Relative Strength Index) for MT4. I want the EA to execute buy trades when RSI is in oversold area and sell when the RSI is in overbought area.
The EA should have money management features
- Stop Loss - in $ and in pips (I can pick any method but I need the option to choose in $ or pips)
- Take Profit - in $ and in pips (I can pick any method but I need the option to choose in $ or pips)
- Spread - The EA should monitor the spread of the currency pair in real time and not take any trades if the spread is higher than a certain value which I specify.
- Trade Time - Either True or False (If True, I can specify the trade time from xx:xx to xx:xx)
- Trailing Stop .. Either true or false (If true, I need to be able to trail profit by a certain amount of pips)
I need to be able to specify the RSI period and the overbought and oversold levels.
The robot should have a lot rising feature by a certain multiplier in case a trade goes against me. I would like to add to that position when the exact conditions are met with a bigger lot size (based on the multiplier). However, additional trades should be spaced apart via a field mentioning no. of pips
So Trade No. 1 is 0.01 lots but price doesn't reach my TP .. setup happens again .. 2nd trade size is (0.01 x multiplier) BUT only if price goes X number of pips from 1st entry ... 3rd trade size is (second trade size x multiplier) but only if price goes X number of pips from 2nd entry , etc.
There should also be a field specifying the number of maximum trades and another field specifying the number of maximum lots allowed per currency pair.
In addition to the lot rising feature, I need a feature that takes the same lot size for each entry instead of lot rising. So lot rising should be TRUE or FALSE. If True, I get to put the multiplier. If False, the same lot size will be traded for additional trades.
I need to be able to put this EA on any pair using a magic number and all trades for that pair should be monitored independently
for equity management, I need the EA to monitor the amount of loss in case I am caught in a bad position. If a certain amount of loss is reached, the EA should close all trades for that currency pair. This amount can be a % of equity or a certain $ amount. I need to have the ability to choose which method.
I am able to hedge so if I am already in a sell trade and the EA gives a buy signal, I want the EA to take the buy trade via the same logic as the sell trade. The EA should monitor the profit for the sell trades independently and the buy trades independently . When the profit target for the sell trades is reached, the EA closes all sell trades and keeps the buy ones. When the EA reaches the profit target for the buy trades, the EA will close those as well. Same with the stop loss, the EA should monitor them independently.
** The hedging feature shall also be optional and I can either choose to do it or not by a true or false button
There should be a Text on the screen mentioning all details of the current trades running. How many buy trade, How many sell trades. How many lots for the buy .. How many lots for the sell ... Profit for the buy trades .. Profit for the sell trades. Spread .. Magic No. and any fields deemed necessary.
** Also, I need three buttons on the screen. One for "Close all buy trades" .. One for "Close all sell trades" .. One for "Close all trades" just in case, I want to get out of any set of positions prior to news, etc.
If you have any questions, please let me know