Specification
I'd like to have an easy ea programmed for MQL4 that is based on price action.
Here are the conditions:
1. Open an order: Actula Bid price crosses the ema and is xxx pips above/below the 62 ema (program the type and period of the ma as well as the number of pips distance to the ma as selectable options. This is just to allow me to adapt the settings to specific market conditions or just try out which settings work best.
2. TS: I don't want the conventional TS that counts every single pip, but rather one that moves the SL every xxx pips profit achieved, e.g. +50 pips = move sl to break even, +100 pips = move sl to secure a profit of 50 pips and so on.
3. Close an order: I don't think a specific programming is required as to my thinking there are only two possibilities which are already covered by the above settings:
a) One trade is open and the opposite trading signal is triggered, then close the first trade.
b) An order hits the sl set by the ts and is therefore closed.
4. Initialization of the ea - IMPORTANT!!!
I don't want this ea to just open a position when the Bid price is above the ema, but rather want it to open a trade when the Bid price has actually crossed the ema. So I guess you somehow have to implement a mechanism that checks for the crossing of the Bid price over the ema.
Please let me know if this is possible - if not I need to think about alternative conditions as when to open a trade. If you need a screenshot to better describe the function of this ea - just let me know.
Thanks
Hubert