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Challenging but functionally straightforward, this is an order to create an EA based on the attached indicator. The way the indicator functions is that it defines Elliot Waves.
In all simplicity the indicator will put letters on the start and the end of a wave. The end of a wave is as well the start of new wave. You will see numbers as well but you don't have to take these into account.
![](https://c.mql5.com/21/99/Capture__1.PNG)
Proposed functioning based on the above example
The EA starts with the first letter (in this case A but what letter it is doesn't matter): nothing should be done - no action should be taken
The wave ends at the next A (again, what letter it is doesn't matter as long as it's a letter): the EA will calculate if the level based on which the second A is placed is lower or higher than the level based on which the previous A was defined. It is lower so it will open a buy trade (if it would be higher it would open a sell trade
The EA sets point B and will close the buy trade and open a sell trade
The EA sets point C and will close the sell trade and open a buy trade
The EA sets point D and will close the buy trade and open a sell trade
Etc...
Additionaly it needs a trade start time and trade close time. If any trades are open at the close time they need to be closed at the price at closing time
It needs a Friday early close setting whereby the time of early close can be defined. Same thing applies, if trades are open at the close time they need to be closed at the price of the closing time.
It needs to function on any timeframe and instrument it's placed on.
Lot size will be defined with an option to select a fixed lot or a use an autolot divider setting that will allow to divide the balance by the value defined in the setting to define a fixed lot size.
S/L level, when 0 it should be inactive
T/P level, when 0 it should be inactive
Trailing S/L level, when 0 it should be inactive
There are two challenges with this indicator:
1. I don't have the source file
2. Currently it doesn't repaint which means the chart needs to be refreshed for the letters to show.
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