RSI_SR_EA

Please provide your quote and timeframe for Phase I and for Phase II.

Please see the attached picture.

Please see indicator, attached.

RSI_SR_EA

EA based on indicator

Indicator is RSI stop&reverse

Phase I: Proof of concept

Long Entry:  Enter long when signal line is falls below price.

Short Entry:  Enter short when signal line line rises above price.

Stop Loss:  in pips, set by user.

Note:  It is important that the position is opened at the candle indicated in the provided picture.

Take profit:

Two take profit levels will be available.

TP1:  Pips set by user

TP2:  Use TP2 (true/false; user will have the option of using TP2 or not)

Pips set by user

There will also be two chances to move the stop loss:

User will have the option of using BE movements or not.

BE1:  If TP1 is hit then move stop loss to X pips from entry price.  This may be a negative number or a positive number.

BE2: If TP2 is hit then move stop loss to X pips from entry price.  This may be a negative number or a positive number.

Most trades will close with TP or BE/stop loss.  

Any position that may be open when price crosses the signal line will be closed.  At the same time a new position will be opened as per   

This condition will essentially be a "stop and reverse"

Timeframe is "use chart timeframe"

User will be able to adjust and optimize all "inputs" of the indicator.

Phase II:

User will be able to to set the line colors and thickness within the EA settings.

Notice:  The signal line begins to shift during the life of a candle.  If, because of the nature of the indicator, 

a position cannot be opened at the start of the candle as indicated in the screen capture, 

it may be necessary to open the new position before the candle completes.

If necessary, the EA will open a position before the candle completes.  

The programmer will offer suggestions such as a delay or possibly a pending order based on last candle before the signal line finishes its cross.

Take profit:

Add three more take profit levels will be available.

TP3: Use TP3 (true/false)

Pips set by user

TP4: Use TP3 (true/false)

Pips set by user

TP5: Use TP3 (true/false)

Pips set by user

Add two more BE levels:

BE3: If TP3 is hit then move stop loss to X pips from entry price.  This may be a negative number or a positive number.

BE4: If TP4 is hit then move stop loss to X pips from entry price.  This may be a negative number or a positive number.

Provide an on screen chart that shows:

1. quantity, pip value and dollar value of each TP level that is hit.

2. quantity, pip value and dollar value of each BE level that is hit.

3. quantity, pip value, and dollar value of each SL that is hit.\

4. quantity, pip value, and dollar value of each trade that closes at signal line cross.

Chart will have 11 lines:  TP1, TP2, TP3, TP4, TP5, BE1, BE2, BE3, BE4, SL, CAC (for close at cross).

Chart will have three columns:  Quantity (this is a count of the number of times the condition is met and executed), PIP value at execution, dollar value at execution.