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Create an algorithm based on the following
MACD & 200 EMA strategy., Bollinger Bands, MACD (Moving Average Convergence Divergence), and Stochastic Oscillator to identify potential entry and exit points for scalping. The strategy aims to capitalize on short-term price fluctuations and generate quick profits.
The Bollinger Bands help identify overbought and oversold conditions, while the MACD provides trend signals and the Stochastic Oscillator confirms entry signals. The bot will enter a trade when the price is at a favorable position relative to the Bollinger Bands and when the MACD and Stochastic Oscillator align with a bullish or bearish bias. Stop-loss and take-profit levels are set to manage risk and secure profits.
The Ea will use these 2 additional Indicators, i have uploaded the Fx power and Fx Volume Code Snippets also
Here are the links for the indicators
Fx Power Indicator: https://www.mql5.com/en/market/product/16252?source=Site
Fx Volume Indicator: https://www.mql5.com/en/market/product/16254?source=Site
To use the Fx Volume Indicator you will need to download the Free EA that pulls the data: https://www.mql5.com/en/market/product/46998?source=Site
Settings that the indicator will need to have:
I will need to be able to Back test this on MT5
Pairs to Trade: here i will put which pairs i want it to trade.
Time Settings: this settings will consist of 3 time settings
1. Start Time: this will be the time when the EA will start looking for trades
2. End Time: This is the time when the EA wil STOP looking for trades, but will keep open trades OPENED
3. Close ALL OPEN Trades TIME: This is the time when the EA will CLOSE ALL OPEN Trades.
Money Management:
1. Take Profit
2. Stop Loss
3. Break Even:
4. Break Even Pips Over: This means ho w many pips over break even point to move the stop loss, so it can cover the expenses and the spread.
5. Max Open Trades per Fx Pair: This will let me put a quantity of Maximum Open Trades i want the EA to open per Fx Pair.
How the EA will select Trades
The EA will make Trades based on the Fx Volume Indicator and will be filtered out by the Fx power
The Fx Volume Indicator will show you when there is a change on the Percentage either up or down, to make it simple let me put an example.
On the Fx Volume you will see that the USD is going up and several other currencies going down, the EA will then have to select which of this will be better for a trade, the Way to do it is by filtering out the Noise by using the Delta on the Fx power Indicator.
I want a bot who can be constant, be updated with news, Stop Trading while big new.
Fully automatic Forex Robot
• Compatible with MT5
• Tested SET Files
• Low & Medium Risk Strategies
• Effective Money Management To Ensure Sustainable Growth
• Trade Any Pair, Indices, or Crypto
• Works With Any MT4/MT5 Trading Brokerage
• Multiple Filters To Avoid Bad Market Conditions
• Dashboard
• Hedging Option
• Indicator selection
• News filter
• Awesome Dashboard