Expert Advisor using TP and Reenters Trade

MQL4 Experts

Job finished

Execution time 4 days

Specification

Good Morning,


I am looking for an expert adviser that will trade constantly, entering a relatively large order(on my command when), buy or sell, and I want the expert adviser to work around it.

I want it to work off percentage points.


So I am going to describe what I want assuming I have entered a long EUR/USD trade. I want to decide when I enter the trade, once this has happened I want all the rest to occur automatically from start to finish.

Once I click on the expert adviser to start running it must enter the trade immediately and do all the rest following that.


So taking an example of a long EUR/USD Trade.


Account overview.

1000$ balance


If I see an opportunity to go long EUR/USD, I want to activate the expert adviser and it should go long immediately and trade around that.


So what the expert advisor must do.


On activation:

  • Go long
  • Enter the trade at the margin of 1:100
  • Immediately put a stop/loss with a max loss to account balance of $100, so risk being 10% of account balance.
  • Thus it will need to calculate the loss size that meets these expectations.
  • For purpose of this example we will assume it will enter a large order of 1.00 lots.
  • Enter multiple sell limit orders with take profits and no stop losses immediately(will explain this in next section)

After trade has been entered


So basically what I want to do is take profit by entering new limit sell orders which will have their own take profit but no stop loss. I want these orders to be a maximum of 0.01 lots and the take profit must be 0.10% points away from entry of each individual sell limit order.

If the take profit gets hit, I want the sell limit order to be reentered. Thus it will constantly keep scalping.


So how sell orders limit orders will work


  • Enter 100 lots, 1.00  lots entered on initial trade, thus if lots are 0.01 there will be 100 limit orders entered.
  • I want these sell limit orders to be put over average intervals over 5% move in the EUR/USD chart.
  • If the EUR/USD moves 5% then there should be 100 lots entered and technically there should be no more exposure to the market
  • The TP on all sell limit order should be 0.10% points away on a EUR/USD move
  • If the TP is hit, then the sell limit order should be reentered.


Stop Loss


  • The initial stop loss must move to entry if the initial trade is 10% in the money. So on this trade it would be as soon as it is 100$ in the money, then the stop should be moved to entry.
  • If a stop loss is triggered all open orders should be closed and the expert adviser must stop running.

Variables I would like to change


  • % of risk to initial balance, from 10% to lets say 5%
  • The initial position exposure from 1:100 to 1:50 for example
  • Direction of the trade, either long or short. Thus this script should be also able to work on buy limit orders and a large initial sell order.
  • % of TP on limit orders, from 0.1% to lets say 0.2% for example
  • Total % move in the chart. I would like to be able to adjust from 5% to lets say for example 3%

If there are any questions don't hesitate to ask. 


Thank you for your help.

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