Simple forex EA for MT4 without indicators plus automated Money management

MQL4 Experts Forex

Job finished

Execution time 41 seconds
Feedback from customer
It was very professional. Thank you!
Feedback from employee
Great customer, high cooperation and very patient. Thank you

Specification

I need EA for my strategy I trade manually 

ENTRY:

Options for parameters:

- Start time :

- time frame option for the new day opening candle (M30,  H1 .....)

  Open LONG trade :

- at price above FIRST candle  Open   (00:00)

OR 

- at price above FIRST candle( started at 00:00) High

 Open SHORT trade :  

-at price below FIRST candle Close   (01:00 if time frame is H1)

OR

- at price below FIRST candle  Low

Risk management: EA has to calculate  lot size for the first entry. It has to have options for parameters such as :

 -account size :  

-risk in % :

- if sl is X  in pips :

 those parameters are settled manually.

For example: account 5000, risk 5% if sl=100, then lot size for the firs trade is 0.25lot

...................................................................................................................

TAKE PROFIT :

-       Option In pips

OR

-       Option in currency

-       EUR

-       USD

 

............................................................................................................................

STOP LOSS  : 

-when the candle Close  at price higher then higher highs ( if short) or lower then lower lows ( if long)of the same trading day.

-Open new oposite trade after stop loss

- time frame option for candle close  ( H1 M30, H4)

Money Management is very similar to Martingale. The  difference is that stop loss is not the constant size. The profit must stay the same size in pips and amount in money as was set in the first trade. For that reason lot size  has to be recalculated all the time before entering market.

For example: The first Opened trade 0.1lot T/P 30 pip (30 usd)  If S/L -40 pip, open new trade 0.23 lot T/P 30 pip (69 usd) if it takes Profit then 69-40=29 usd it is ± 30 usd

 Supose, the next S/L is -25 pips then to get 30 usd in 30 pips lot size is 0.29 lot

S/L from the first trade is -40 from the second trade is -57.5 , so the third lot size to get ±30 usd  is 0.43 lot t/p 30 pips ( 129 usd)  If it takes T/P then  129usd – 40-57.5 = 31.5 usd

 IMPORTANT:

If there is no Take Profit nor Stop Loss taken the same day as trade was opened, then STOP LOSS is an oposite entry signal of the next day. All rules are the same as the first opened trade  except lot size which has to be recalculated according Stop Loss.

EA  stops working after Take profit and starts next day at time is set.

 


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