MT5 4 Indicators

MT5 - Indicators to use

1.     Trend Catcher with Alert- Ex file. (Used as an entry signal)

2.     Half Trend New Alert. (Used as an entry signal)

3.     Macd – 2. (Used as an entry signal)

4.     Support and Resistance. (Use for trailing stop loss.)

Settings for the indicators.

All the first 3 indicators should follow the following:

•   Lime green for buy signal.
• Magenta for sell signal.

Buy Entry Signal

   When all the indicators align.

o   Macd-2 – Up blue arrow appears and a candle closes.

o   Half trend – Up arrow appears and a candle closes.

o   Trend Catcher with alert – Open, High, Low, close (Candle) closes in lime green color.

Buy exit Signal

•   When the stop loss is hit.
• When the trailing stop loss is hit.
• When the opposite signal occurs.
• When the trend catcher Open, High, Low, close (Candle) closes in magenta color. (Make this optional)

Stop Loss and Trailing SL

• The stop loss should be 50 pips below the current support level line. (I want to be able to put the number of pips manually, since I can decide to risk more pips or less)
• The market should trail using the current support level line, 50 pips below it. (I want to be able to put the number of pips manually, since I can decide to risk more pips or less)

Sell Entry Signal

   When all the indicators align.

o   Macd-2 – Down red arrow appears and a candle closes.

o   Half trend – Down arrow appears and a candle closes.

o   Trend Catcher with alert – Open, High, Low, close (Candle) closes in magenta colour.

Sell exit Signal

• When the stop loss is hit.
• When the trailing stop loss is hit.
• When the opposite signal occurs.
• When the trend catcher Open, High, Low, close (Candle) closes in magenta colour. (Make this optional)

Stop Loss and Trailing SL

•   The stop loss should be 50 pips above the current resistance level line. (I want to be able to put the number of pips manually, since I can decide to risk more pips or less)
•  The market should trail using the current resistance level line, 50 pips below it. (I want to be able to put the number of pips manually, since I can decide to risk more pips or less)

Risk percentage

   Put a risk calculation which is flexible where I can input the percentage to risk.

  NB:

•  Make the option for re-entry on the same direction available but optional.
•  When the EA takes a buy order, only show the support levels and when it takes a sell, only show resistance levels.
• The trend catcher is an ex file but it’s on MQL5 website, I’m not sure where to get the source code.
•   Put restrictions, where I can specify the EA to one specific client account.
• Re-entry if the 3 indicators align again.
• When the order gets to a ratio of 1:1, close 1/2 partially and move the SL to Break even.
• Let it be if I trail or close manually, the EA's functionality won't be affected.
• Also include an option to do buy only, sell only or both.