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Rules
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Specification
1 - EA will work for 30 minute bar chart.
2 - Currency pairs : EUR/USD, GBP/USD, USD/CAD, AUD/USD, NZD/USD, EUR/JPY, EUR/GBP
3 - All currency pairs will be traded at the same time.
4 - For a pair, more than one trade can be opened if the buy or sell condition provided.
5 - EA will work 24 hours.
6 - There will be price multiplier on EA and I will be able to enter values here. Example, If I enter 1 here, 1 USD wil be used for trade. If I enter 10, 10 USD will be used for trade. For different pairs, EA will calculate pips value and dynamic stop loss value and entered value will be spent. Exampe, dynamic stop loss value is 10, and currency pair is EUR/USD and so if 1 pip value of EUR/USD is 1 USD, and entered price multiplier is 10, ( 10 * 1 ) * Lot size = 10 USD will spent. Here Lot size is 1.
7 - No indicator will be used. Only comparison of price. High and Low of previous bars wil be used as indicator.
8 - To buy or sell, 5 bars will be used. Current bar, previous three bars and next bar.
9 - To buy; If the price of the current bar falls below the previous' bar low and then goes back and reached 1 pip above current bar's open price or 1 pip above previous bar's close price. Here the important thing is if open price of current bar bigger than close of the previous bar, so when the price reaches 1 pip above open price of current bar, also previous three bars' low less than each other starting from previous bar, EA will buy curreny pair.
10 - When buy is made in current bar, no stop loss will be put. Profit target will be calculated according to current bars' low. As an example, if the price difference between open price and low of current bar 5 pip, bid/ask difference of pair will be taken from Metatrader lets say 3 pips, so total 5 + 3 = 8 pip. Target will be 8 pips + 2 pips = 10 pips from open price. 2 pips comes from slippage. This value will be constant. Of course profit target will be put during opening of trade. Stop loss will be dynamic and will work on next bar. So when next bar comes stop loss value will be 1 pip below low of the the bar where trade opened. But it will always check if it reached 1 pip below the open trade bars' low and it will close trade.
11 - To sell; If the price of the current bar goes higher than the previous' bar high and then goes back and reached 1 pip below current bar' open price or 1 pip below previous bar'a close price. Here the important thing is if open price of current bar less than close of the previous bar, so when the price reaches 1 pip below open price of current bar, also previous three bars' higher than each other starting from previous bar, EA will sell currency pair.
12 - When sell is made in current bar, no stop loss will be put. Profit target will be calculated according to current bars' high. As an example, if the price difference between open price and high of current bar 5 pip, bid/ask difference of pair will be taken from Metatrader lets say 3 pips, so total 5 + 3 = 8 pip. Target will be 8 pips + 2 pips = 10 pips from open price. 2 pips comes from slippage. This value will be constant. Of course profit target will be put during opening of trade. Stop loss will be dynamic and will work on next bar. So when next bar comes stop loss value will be 1 pip above high of the bar where trade opened. But it will always check if it reached 1 pip above the open trade bars' high and it will close trade.
12 - Details will be provided when there is a bid on my project and select a programmer for my EA. I will illustrate them on chart in JPEG format to the selected programmer.