Expert Advisor from a custom indicator mt5/mt4

mql5/mql4 files available

1. Features

Muti timeframe and multi-pair

EA should scan the market watch

2. RSIOMA custom indicator (added)

Levels: 20, 50 & 80

Signal strength

For buy, 

strong buy signal = Cross above 50 

Intermediate buy signal = Cross above 20

Weak buy signal = Bullish crossover of the RSIOMA lines

For sell,

Strong sell signal = Cross below 50 

Intermediate sell signal = Cross below 80

Weak sell signal  = Bearish crossover of RSIOMA lines

Option (in the EA input parameters) for selecting signal strength

……..Signal strength to use:

.....Strong signal only (trade only 50 level crosses)

.....Strong & intermediate (trade both 50 and 20(buy)& 80(sell) level crosses

.....All signal strengths (trade all including crossover of RSIOMA lines)

ATR for SL and TP levels

3. EMA Filter 

4. ADX As Filter

.....use ADX filter (yes/no)

..... ADX filter level to use (eg 20)

.....use ADX strength direction filter (yes/no)

..... ADX strength direction filter to use

..... only when ADX is increasing

..... use both (ignore ADX strength/direction)

DI+/DI- Line: 

.....use DI+/DI- filter (yes/no)

..... DI+/DI- filter to use

…….. DI+/DI- Line closes above level eg 20

…….. DI+/DI- Line closes above ADX Line

5. Trade Conditions

Preconditions:

Price above EMA (buy) or below EMA (sell) 

ADX is above the set level eg 25

If selected, DI+/DI- line closes above 20 or ADX line

Opening Trades:

RSIOMA signal based on the selected signal strength (see above)

6. Trade management

A simple trade management tool to be displayed on the screen

Select TF for opening trades- D1,H4,H1,M30,15m

Option for trade size

Option to set risk-reward ratio based on the ATR.

Options for TP (RR ratio based on ATR, pips or USD amount

Option for max number of open trades.

Option for max spread for opening trades

Option for trading time

Option for news filter (to trade or not trade during major news)

Option to hide SL and TP

7. TP Option Settings

.....TP method to use (RR ratio/pips/USD Amount)

if RR ratio,

.......ATR factor for SL (eg 2)

……RR ratio (2:1 or 3:1)

8. Trailing SL

Activated after gain of  XXX pips

XXX (eg 60) pips gain trailed by YYY (eg 20) pips

Provide back testing/forward testing results

Provide optimization results

Hand over source code

Cooperation in fixing errors and bugs