I want an semi automated expert advisor that I use for Risk Management when placing the orders in Forex
trades. The indicator will help me place orders (pending and market execution orders). The major goal of the indicator is to manage risk
reward.
The indicator will have the following inputs: Place for Equity Balance
(Should not change by itself only manual, it will be based on the value I enter), Stop loss, Take Profit and Risk
(So that you can input how much you are going to risk percentage terms). Then the indicator will automatically calculate the following in
their respective columns:
· Risk
Reward: Here it will calculate the risk reward based on the values of the stop loss you have used
and take profit. And it will show you how much you will gain in percentage terms like: 1.3 (which is 1.3 percentage based on
your Equity Balance)
· Profit
Amount: It will show how much you are gaining in USD terms.
· Lot
Size: This field will show what lot size is been used. Lot size will be calculated based on the Risk
field that is been specified by the trader.
· Risk
Amount: This will show Risk amount in USD
· Risk
% of Balance: It will show how much in percentage you are risking based
on your Equity Balance
Finally it will have two buttons so that I can place the order
Button 1: This helps you to choose what order you are going to take
(switch for market order and pending order) if you click switch it will give you market order, if you click again it will give you pending
order)
Button 2 :( Place Order –with the name of the order) so
this button will show the name of the order based on button 1. It will be used the final trigger to place the order based on the option you chose on
Button 1.
The General Settings:
- The
EA can minimize while it’s on the chart, when you maximize it will show in the normal size, when you minimize it become just one line on the
chart. Also the indicator will be visible on the chart that I included all time.
- When
you move the stop loss and the take profit in the chart, the price should reflect on the indicator and change accordingly.
So generally the indicator also should have the default options. Plus
Also option for me: so that I can restrict which MT4 accounts can use this indicator, so that only the brokerage
accounts which I enter, only the indicator will work for them, but if someone tries to use for another brokerage account, which was not been
coded for, it will show error saying" invalid account". So it should have a line where I can be the only with the access
where I can put the individual’s MT4 account.
Also included images that show how it will look like.
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