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Rules
Job finished
Specification
Hello,
Before I explain what the EA should do, it is important to understand the way I trade, wich is very simple. Every day at the end of the day I place one limit order in some FX pairs, with a 100 points SL and a 100 points TP. This is done manually and I intend to keep doing so. What I need is an EA that cancels my order with it's respective TP and SL if a certain condition is satisfied, or manages my SL when my limit orders are executed .
Some observations:
*Should run in Metatrader 4
*The bid price should be the reference for every time I write "price".
*Price ranges are referenced in Points, not Pips (10 points=1Pip)
*All inputs required will be referenced by yellow Capital letters between "". ("A"; "B"; ...)
In more details, the EA (not sure if it is necessary to develop both an EA and Script to work together) should do the following:
1) If the price gets too close (between 0 and "X" points) to my limit order, and then it does not get executed and the price pulls back a certain amount of "Y" points away from it, the order must be canceled.
Why is that? I don't want the price that gets too close to my orders and not executing it to come back later to go right past it on a break out.
There will be rare cases when the price will go pass my entry 1 or 2 points and will not execute it (because of spread). If this happens and price goes to "Y", the order must be canceled as well.
Opposite to that, there will be rare cases when price will hit 0 points from my entry, WILL execute my entry and goes to "Y". In this case I will be with my order opened and I obviously don't want it to be canceled until TP or SL.
There should be an option in the input box to turn off this feature.
2) It should work like a Trailling Stop but with three steps defined by me. Once a limit order is executed (with TP and SL already placed by me), I want the SL to be modified in these three situations:
SL moves to "A" points when profit is up "B" points, then;
SL goes to "C" points when profit is up "D" points, then;
Sl goes to "E" points when profit is up "F" points.
3) The EA should be able to perform independently in each currency pair. (example: if my limit order in the EURUSD gets canceled by the first condition, the order on GBPUSD should not be canceled).
4) The EA should work for Long and Short positions
4) The Input screen should have those names:
"X": Distance tolerated
"Y": Pullback
"A": SL1
"B": Trigger points to SL1
"C": SL2
"D": Trigger points to SL2
"E": SL3
"F": Trigger points to SL3