OPENING RANGE BREAKOUT SYSTEM

MQL4 Experts

Job finished

Execution time 18 hours
Feedback from customer
Very Intelligent Coder, Like to work with him more... Great
Feedback from employee
Good communication define everything clearly.

Specification

indicators used
-----------------

1. supertrend indicator

(settings 10-3)

2. Auto Sessions v 1.8
-----------------------------------------


Buy rule :
-----------

Wait for 8 AM -12 NOON(BROKER TIME)

(5 CANDLES each 1 HR TIME FRAME)

Mark Candle high of 5 bars
Mark Candle low  of 5 bars

If candle high breaks check
supertrend, it must be positive
to enter a buy position

or

wait for supertrend to change as
positive and enter a buy position



keep positions till stoploss
hit 

or

target hit

or

supertrend reversal

or

broker time 21:00

which one comes earlier, will be exit
point for the buy positions

========================================

Sell Rule :
===========

Wait for 8 AM -12 NOON(BROKER TIME)

(5 CANDLES each 1 HR TIME FRAME)


If candle low breaks check
supertrend, it must be negative
to enter sell

or

wait for supertrend to change
negative 

keep positions till stoploss
hit 

or

target hit

or

supertrend reversal

or

broker time 21:00

which one comes earlier, will be exit
point for the sell positions
=========================================



input values in expert advisor as follows :
-------------------------------------------

enter input qty :0.10 lot

enter sl pip     : 50 pip (it is by default ) stoploss concept explained already in notepad text file

enter target pip : 30 pip ( by default ) target method also explained in notepad text file

enter magic number :  ( for placing same or difference currencies in various time frames)

enter comment line :

enable money management  : true/false (if it is true, based on equity orders to be placed, if it is false take same input qty)



calculation start time   : 08: 00 (broker time )

calculation end time     : 12:00 (broker time )

trade start time         : 13:00 (broker time )

trade end time           : 21:00 (broker time ) ...*********** all open positions, whether hit profit/stoploss/pending orders if any, everything to be closed at 21:00

===============================================================================================

every new day , new trades will be available, no carry, all open positions started for trading
must be closed on same day

================================================================================================

every day maximum one buy and maximum one sell allowed.

if buy stoploss hit, then no re entry for buy 

similarly 

if sell stoploss hit, then no re entry in sell

maximum trades per day : 2






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Project information

Budget
20 USD
For the developer
18 - 18 USD
Deadline
1 day(s)