EA (MT4) Update/Modify/change based on Indicator strategy- It is for MT4

Note- This is a full details description to avoid any confusion and get the success for both of us. Don't take it as it is big job. If you think that way, please read carefully, you will understand. Thanks.

I have working EA that produce or WRITE file for each signal form below indicator. The File writing function is working well but the logic to get the signal from Indicator is not working well. Also, I would like to add custom condition in this EA. Please see attached EA. You can use this EA or you can create a new EA as you like.

This EA use this indicator and work with icustom functionality. I have purchased this indicator.

Scalping Indicator Pro mt4 

https://www.mql5.com/en/market/product/30581

Let’s first understand the Indicator:

When you load the indicator you will have below inputs available:

Slow Period- 150

Slow SIP- 14

Fast Period- 5

Fast SIP-3

Upper Level-80 and above 80

Lower Level-20 and below 20

Alert on- Previous Candle

Rest of the setting is all about giving an alert when the Trend line and Signal Line value is going up or down.

My understanding the Slow Period and SIP control the value of Trend line and the Fast Period and SIP control the value of Signal line.

Once you load the Indicator, you will see below in chart.

Now let’s take one example here:

You will see the defaults inputs value in red circle. As per the chart, the slow period-150, Slow SIP-14, Fast period-5 and Fast SIP-3 you can see in bracket.

The value outside bracket: First value 47.4081 is Trend line value that is thick golden line and

The second value of 1.7011 is Signal line value that is in thin Pink line in chart.

So what we need to get out from this indicator for each tick for this EA.

(1)    Time-frame criteria (Three of more time-frames)

(2)    Trend line Value (Golden Line value)

(3)    Signal Line Value (Pink line value)

(4)    The value of Trend line and Signal line based on Previous Candle or defined candle (e.g. last 10 Candles)

(5)    When Alert generated it will write in TEXT file as per the sample and be able to send all three (Notification, Push, and Email) types of alerts.

(6)    EA must manage SL/TP and when it hit, it will produce or write opposite signal to exit from current trade in respected Symbol TEXT file by removing any previous info.

So once you have this info, we need to add/update the EA that must satisfy or meet below new requirements.

 (1)   

Currently, the EA producing or writing file when the Signal generated. I would like to modify this. As soon as you load the EA with selected symbols (to monitor), it will write an empty TEXT file with all selected “Symbol_Signal” name (As per attached sample TEXT file)

 (2)

Add below INPUTS that can manage Buy/Sell Signal based on conditions. Basically we are defining each time frame condition to consider Buy or Sell definition.

You can see each Timeframe as one condition.

Info- Timeframe- 1

Timeframe- Current or M1 or M5 or M15, or M30, or 1H, or 2H, or 4H, or 1D, or 1W

Trend line Value- Custom number (e.g. 20.05, or 80.10, or Not Applicable)

Trend line value condition- Cross above, or Cross below, or Greater than or Lower than

Signal line value condition- Custom number (e.g. 20.05, or 80.10)

Signal line value condition- Cross above, or Cross below, or Greater than or Lower than

Candle- Previous, Current, last number (e.g. 10, 20, or custom number) candle

Info- Timeframe- 2

Timeframe-2- True or False

Timeframe- Current or M1 or M5 or M15, or M30, or 1H, or 2H, or 4H, or 1D, or 1W

Trend line Value- Custom number (e.g. 20.05, or 80.10, or Not Applicable)

Trend line value condition- Cross above, or Cross below, or Greater than or Lower than

Signal line value condition- Custom number (e.g. 20.05, or 80.10, or Not Applicable)

Signal line value condition- Cross above, or Cross below, or Greater than or Lower than

Candle- Previous, Current, last number (e.g. 10, 20, or custom number) candle

Info- Timeframe- 3

Timeframe-3- True or False

Timeframe- Current or M1 or M5 or M15, or M30, or 1H, or 2H, or 4H, or 1D, or 1W

Trend line Value- Custom number (e.g. 20.05, or 80.10, or Not Applicable)

Trend line value condition- Cross above, or Cross below, or Greater than or Lower than

Signal line value condition- Custom number (e.g. 20.05, or 80.10, or Not Applicable)

Signal line value condition- Cross above, or Cross below, or Greater than or Lower than

Candle- Previous, Current, last number (e.g. 10, 20, or custom number) candle

Info- Timeframe- 4

Timeframe-4- True or False

Timeframe- Current or M1 or M5 or M15, or M30, or 1H, or 2H, or 4H, or 1D, or 1W

Trend line Value- Custom number (e.g. 20.05, or 80.10, or Not Applicable)

Trend line value condition- Cross above, or Cross below, or Greater than or Lower than

Signal line value condition- Custom number (e.g. 20.05, or 80.10, or Not Applicable)

Signal line value condition- Cross above, or Cross below, or Greater than or Lower than

Candle- Previous, Current, last number (e.g. 10, 20, or custom number) candle

Condition For Buy (Timeframe- 1 Signal line condition) – Cross above, or Cross below, or Greater than or Lower than

(Means, If the Timeframe-1,2, 3 and 4 condition met, and if the Timeframe -1 Signal line condition cross above or cross below ..., this will consider "Buy" signal)

Condition For Sell (Timeframe- 1 Signal line condition) – Cross above, or Cross below, or Greater than or Lower than

(Means, If the Timeframe-1,2, 3 and 4 condition met, and if the Timeframe -1 Signal line condition cross above or cross below ..., this will consider "Sell" signal)

Once the all listed condition met and produce signal, This should show in any selected symbol chart with marking Green Arrow for Buy and Red Arrow for Sell

 (3)

Add Stop Loss/Target Price %  and additional option for defining previous candle(s) or higher high or lower low stop loss/target options in INPUTS

 (4)

Add condition to Ignore all signal after the first signal produce/written option in INPUTS (Once the first signal generated it ignore all signals till SL/TP hit.

 (5)

When you load EA on any selected symbol chart, it shows Dashboard with all open generated signals with current profit/loss status. This can guide you all your open signals or position that was created during that session.

Information only:

The Current working EA has below inputs: