Simple Bollinger Band EA

Simple Bollinger Band EA

When quoting for the job - please state $ cost and proposed timeline to completion (2 days work to be completed by 24/8/15) 

A simple Bollinger Band EA is required to trade Binary options. The EA will identify candles that close outside of BB (signal) and place trades on the opening of the new candle. The EA must work on all timeframes (including period converter charts) and count single candles as signals and successful trades.

Important: It is absolutely critical that there is zero lag between when the signal candle closes and the trade is placed. This EA will be used on 1M charts for 1M expiry trades and it is therefore vitally important that it does not delay the opening of the trade. If you believe that parts of the below requirements are going to create an unacceptable delay in taking the trade then please state so, as I might consider discarding that requirement.

Money Management (martingale) steps

Ability to define the value of subsequent trades to be placed in the event on a lost trade. 4 steps in total with user definable values. A tie trade (ATM) should be ignored and the same step should be taken again. For example:

1.    First trade = £10

2.    If first trade loses then the next trade = £22

3.    If second trade loses then next trade = £45

4.    If third trade loses then next trade = £100

5.    If fourth trade loses then considered a OTM and sequence starts again

Visual Results

When the EA is placed on a chart it must present the history of results based on the data that is on the chart. This is to be used to visually backtest the various strategy possibilities (below). The visual elements will include a count of successful (ITM) trades where the next candle closes within BB at each of the 4 step levels in the Money Management and failed (OTM) trade where the next candle closes outside the BB. For example:

·         Step 1: 138 ITM

·         Step 2: 95 ITM

·         Step 3: 46 ITM

·         Step 4: 13 ITM

·         OTM: 69

It must be possible to set a step to zero. This will denote that the step should be ignored. For example – a two step strategy might be used by setting step 3 and 4 to zero

Parameters

The BB settings must be configurable.

1.       There must be a setting to discard sequences of signals – for example, one strategy is to identify the third consecutive candle that closes outside of BB (ignoring the first two and taking the third as the signal). The number of consecutive candles to discard must be an input variable within settings.

2.       There must be a setting to discard successful signals also – for example, one strategy is to only take a every third signal (i.e count the first two breaking of BB regardless of whether they were successful trades or not). The number of signals to discard must be an input variable within settings.

The above two requirements cannot be used together – they are two different tests and therefore must have ‘true/false’ parameters to turn them on/off.

3.       There must be a volatility filter to discard trades when the signal candle is x% larger than the preceding Y candles. For example – do not trade based on a signal candle that is 200% larger than the average of preceeding 15 candles

4.       There must be the ability to define 4 separate trading times. For example:

Trade Period 1 = 09:15 – 10:55

Trade Period 2 = 11:05 – 13:15

Trade Period 3 = 14:15 – 15:50

Trade Period 4 = 16:10 – 17:30

5.       There must be a setting to define a daily profit stop expressed as a % of account value. The EA will cease trading when the daily target is achieved.

6.       There must be an alert setting for trades opening (true/false) and OTM trade occurring (true/false).

7.       The must be the ability to pause trading for X minutes after Y consecutive losses (e.g pause for 5 minutes after 2 OTM)