Freelance service at MQL5.com: EA new momo retracement

Description

Specification

INSTRUCTIONS: EA "NEW MOMO RETRACE"

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

Platform MT5

Markets: forex, futures, stocks (please take into account different decimalizations)

EA shall also have the ability to be backtested in Strategy tester.

EA shall work on each market independetly (meaning multiple trades can be opened on different markets without one affecting the other)

Wherever I wrote "input" in brackets below, I need that number to be modifyable in settings menu.

Indicators used:

-Average true range 14

-Exponential moving average 20 on Close (input)

-MACD 3/10-16 *I have custom for MT4, will send it to you

-Upper and Lower Keltner channel 20/2.5 (input) *I have custom for MT4, will send it to you

ENTRY OF TRADES is only allowed in Session times so I need (input)

Session start: hh:mm (08:00)

Session end: hh:mm (17:30)

Exit can happen whenever, by the rules below, it is not time limited.

RULES FOR LONG

Initial condition:

1. Price makes highest high in the last 30 bars

2. Price trades higher (not the same but higher) than the upper Keltner channel

3. Fast MACD line makes highest high in the last 30 bars

All these 3 conditions must be met ALL AT ONCE - at the same bar. We call this BUY SIGNAL.

Entering:

1. After Buy SIgnal, Price makes a pullback to EMA 20 (EMA value taken from one bar back that is already closed so we know exact price) where a buy limit order is executed.

Buy order is 5 lots big.

We don't know when the price will pullback so pending entry order will have to be adjusted every bar by a moving EMA obviously.

Also, after EMA is touched the Initial conditions described above must happen again all together for new potential trade.

Trade management:

1. After a trade is entered initial sell STOP LOSS order is entered 2.5 ATR (input) away from entry price (ATR value taken from one bar back that is already closed so we know the exact value) in case trade gets stopped out.

2. This is how we will exit a long position if it moves in our favor:

a) Exit 2 lots (input) with profit at 0.8 ATR (input) away from entry price (ATR value taken at the moment of entry) and after that immediately reduce STOP LOSS size by 50% (input).

b) Exit another 2 lots (input) with profit at 1.6 ATR (input) away from entry price (ATR value taken at the moment of entry) and after that immediately MOVE STOP LOSS TO ENTRY PRICE AND also activate TRAILING STOP as described in next "c" point below, whichever is higher.

c) Use TRAILING stop for the remainding of position if it gets activated as described in point "b" above to protect profits. Trailing stop will be Lowest low of last 2 (input) bars. Trail until long trade is closed out this way.

RULES FOR SHORT

Initial condition:

1. Price makes lowest low in the last 30 bars

2. Price trades lower (not the same but lower) than the lower Keltner channel

3. Fast MACD line makes lowest low in the last 30 bars

All these 3 conditions must be met ALL AT ONCE - at the same bar. We call this SELL SIGNAL.

Entering:

1. After SIgnal, Price makes a pullback to EMA 20 (EMA value taken from one bar back that is already closed so we know exact price) where a sell limit order is executed.

Sell order is 5 lots big.

We don't know when the price will pullback so pending entry order will have to be adjusted every bar by a moving EMA obviously.

Also, after EMA is touched the Initial conditions described above must happen again all together for new potential trade.

Trade management:

1. After a trade is entered initial buy STOP LOSS order is entered 2.5 ATR (input) away from entry price (ATR value taken from one bar back that is already closed so we know the exact value) in case trade gets stopped out.

2. This is how we will exit a short position if it moves in our favor:

a) Exit 2 lots (input) with profit at 0.8 ATR (input) away from entry price (ATR value taken at the moment of entry) and after that immediately reduce STOP LOSS size by 50% (input).

c) Use TRAILING stop for the remainding of position if it gets activated as described in point "b" above to protect profits. Trailing stop will be Highest high of last 2 (input) bars. Trail until short trade is closed out this way.

That is all.

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Project information

Budget

30 - 70 USD

VAT (22%): 6.6 - 15.4 USD

Total: 36.6 - 85.4 USD

For the developer

27 - 63 USD

Deadline

from 1 to 3 day(s)

Specification quality
Result check quality
Availability and communication skills