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Description
· The trading system should be built for MT5.
· The main pair I trade is GBPUSD so this should be used to test the trading system. However, the trading system should be able to work on any pair.
· The developer will need to provide me with the MT5 backtest results and MT5 graph of the result showing that the trading system works. If I am unable to validate the results from my own backtest of the code, I will not sign off on payment.
· Please do not put your name forward if you cannot code the trading system. I have had bad experience in the past with people doing this.
· I will provide the indicators needed to code the trading system.
· I will provide the settings for the indicators once a developer is chosen. The settings for the indicators must be coded as a variable so that they can be changed by the user.
1) This is to be a 5 minute trading system. The idea of the trading system is that: market entry occurs when the Waddah Attar Explosion indicator first changes to match a new trend direction.
2) Trend is determined by the Half Trend Buy Sell Indicator on the 1 Hour timeframe
3) Trading Signals
· There is a change in the trend direction to an up trend (i.e. the Half Trend Buy Sell Indicator on the 1 Hour timeframe changes direction to up trend).
· Enter buy on the 5 Minute timeframe when the Waddah Attar Explosion indicator on the 5 Minute timeframe changes to the same direction as the trend (i.e. the Waddah Attar Explosion indicator histogram changes from purple to green). Note: if the Waddah Attar Explosion indicator on the 5 Minute chart is already the same direction as the trend when the trend changes on the 1 Hour timeframe, the trading system should not enter. It must wait for the Waddah Attar Explosion indicator on the 5 Minute chart to go the opposite direction of the trend then change back to match the direction of the trend.
· The trading system should take the first entry that meets the requirements above. If the trade is a winner, the EA should not take another trade until there is a change in trend. If the trade is a loser, the EA should take the next trade that meets the criteria above and continue doing so until there is a winning trade as long as the trend remains the same.
b) Sell signal:
· There is a change in the trend direction to a down trend (i.e. the Half Trend Buy Sell Indicator on the 1 Hour timeframe changes direction to down trend).
· Enter sell on the 5 Minute timeframe when the Waddah Attar Explosion indicator on the 5 Minute timeframe changes to the same direction as the trend (i.e. the Waddah Attar Explosion indicator histogram changes from green to purple). Note: if the Waddah Attar Explosion indicator on the 5 Minute chart is already the same direction as the trend when the trend changes on the 1 Hour timeframe, the trading system should not enter. It must wait for the Waddah Attar Explosion indicator on the 5 Minute chart to go the opposite direction of the trend then change back to match the direction of the trend.
· The trading system should take the first entry that meets the requirements above. If the trade is a winner, the EA should not take another trade until there is a change in trend. If the trade is a loser, the EA should take the next trade that meets the criteria above and continue doing so until there is a winning trade as long as the trend remains the same.
4) Stop loss is the most recent swing low minus 0.5 pips for buy and most recent swing high plus 0.5 pips for sell.
5) Take profit is 2 times risk. Take profit must be coded as a variable so that it can be changed by the user.
6) Trade is to be closed when stop loss or take profit is hit.
7) Source Code: I am to be provided with a copy of the source code.
8) Rights to code: I have the exclusive right to the source code. The Developer shall not provide the source code to any other party without my express written permission.
9) Open Trades: There should be a maximum of one open trade.