ColF

EXPERT ADVISER SPECIFICATION

I do not understand the difference between MQL4 & MQL5, so advice on which to use would be appreciated

This lists the draft specification details. Final specification is subject to discussion with the writer

If possible, the EA is to be designed for an MT4 platform, although other options will certainly be considered

The EA is NOT a scalping EA, rather a short/medium term EA

There are NO Target Prices with this EA

“Days” in this specification are days as defined by the user’s data source & may not necessarily be the same as trading days on the home exchange for the entity (For example, data from an Australian data source may be offset by +10 hours from New York trading hours, so in this case there are 6 data days in a normal week)

The EA works on the last transaction (CLOSE) for previous 2 days & on most recent transaction for current day

The price levels against which action is taken are the higher of the last 2 days CLOSING prices & the lower of the last 2 days CLOSING prices

A transaction is triggered by comparing the most recent transaction in the current day to the above mentioned closing prices of the previous 2 days

A transaction consists of buying as many contracts as the allowed funding level permits & closing all sold contracts (immediately & at market)

OR

Selling as many contracts as the allowed funding level permits & closing all bought contracts (immediately & at market)

Once a transaction has taken place, further transactions in that entity are locked out for a pre-set time. That time is adjustable in 5 minute steps from 5 minutes to 4 hours.

EA can be applied to any trading entity listed in the software (to be determined during development stage – preliminary list available)

EA able to be applied simultaneously to up to 25 entities at any one time. Selection of entities is user’s choice from all entities listed in the software (approx 18 envisaged at initial release, 25 in final version)

Funds available for trading each entity limited by total funds available being assigned equally to each entity selected for trading

Unless 4 or more entities are selected for trading, allowed level for purchase of contract initial deposits in any entity limited to 10% of funds allocated to that entity. For 4 or more entities, allowed initial deposits are raised to 15% of funds allocated to that entity

Total funds available (& thus funds allocations) updated every day & includes unrealized profits & losses. A change in funds available does NOT require adjustment to open contracts

The first transaction for an entity selected for trading takes place only at the time a transaction is triggered. Opening contracts does not take place unless a trigger occurs

The last transaction for an entity de-selected for trading takes place only at the time a transaction is triggered. Closing contracts does not take place unless a trigger occurs

Suggestions for modifications to specifications or software are welcomed but no changes to be made without written consent from the writer

It is envisaged that the EA is made available so that it can be copied onto discs for resale

As such there needs to be included coding which prevents unauthorized copying, use or modification

If this is outside the EA coder’s field of expertise, I can have that done elsewhere, later