Simple EA development by using RSI and MACD

MQL4 Experts

Specification


Looking for the simple EA develpment by using both RSI and MACD indicators.

Red-coloured value is variable to be set by the user.

Default value for RSI is (14) and for MACD is (12, 26, 1)


Development background : 

The purpose of this EA is to open BUY at the very lowest point of MACD with RSI value application as pre-condition. Vice versa, this EA will also open SELL position at the very highest point of MACD with RSI value application as pre-condition. At the same time, if the opened position is losing certain pips, the hedge position will appear (set by the user) to protect the losing position.


BUY open & close condition:


BUY opening pre-requisite : when RSI (14) value has gone down to below 30 at least once (no matter if it bounces above 30 in the next opening candle) 

BUY opening condition : The lowest bottom point of MACD (before it starts heading up)

                                    > For this BUY opening condition, BUY opening pre-requisite must be fulfilled in advance.


BUY closing pre-requisite : when the below 1) or 2) condition is satisfied.

                                          1) when RSI (14) value touches above 50 at least once (no matter if it falls below 50 in the next opening candle) 

                                          2) when MACD has crossed the pivot line and stayed in upper (plus) area.

BUY closing condition : The highest upper point of MACD (before it starts heading down)

                                     > For this BUY closing condition, BUY closing pre-requisite must be fulfilled in advance.


Hedge SELL opening condition (to be optional by user) : When the above BUY position is losing more than 50 pips, Hedge SELL is to be opened.

Hedge SELL closing condition : when the below 1) or 2) condition is satisfied.

                                          1) when RSI (14) value touches above 50 at least once (no matter if it falls below 50 in the next opening candle) 

                                          2) when MACD has crossed the pivot line and stayed in upper (plus) area.


-------------

SELL open & close condition:


SELL opening pre-requisite : when RSI (14) value reaches above 70 at least once (no matter if it falls below 70 in the next opening candle) 

SELL opening condition : The highest upper point of MACD (before it starts heading down)

                                      > For this SELL opening condition, SELL opening pre-requisite must be fulfilled in advance.


SELL closing pre-requisite : when the below 1) or 2) condition is satisfied.

                                          1) when RSI (14) value falls down below 50 at least once (no matter if it bounces above 50 in the next opening candle) 

                                          2) when MACD has crossed the pivot line and stayed in bottom (minus) area.

SELL closing condition : The lowest bottom point of MACD (before it starts heading up)

                                      > For this SELL closing condition, SELL closing pre-requisite must be fulfilled in advance.


Hedge BUY opening condition (to be optional by user) : When the above SELL position is losing more than 50 pips, Hedge BUY is to be opened.

Hedge BUY closing condition : when the below 1) or 2) condition is satisfied.

                                          1) when RSI (14) value falls down below 50 at least once (no matter if it bounces above 50 in the next opening candle) 

                                          2) when MACD has crossed the pivot line and stayed in bottom (minus) area.


Any questions, you're most welcomed!

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Project information

Budget
30+ USD
VAT (19%): 5.7 USD
Total: 35.7 USD
For the developer
27 USD
Deadline
from 1 to 3 day(s)