EA for Managing Trades in User-Defined Zones with Risk Management, Martingale, and Break Even Features

EA Description:

Box Identification:

The EA allows users to manually mark consolidation zones on the chart with rectangular boxes. These boxes are distinguished by color: red for bearish zones and green for bullish zones.

Entry Types:

• Aggressive Entry (True/False): Users can opt for aggressive entries, initiating trades at a specified percentage of the zone's range.

• Divergence Entry (True/False): The EA detects divergence patterns between price and RSI (Relative Strength Index) oscillator and enters trades based on bullish or bearish divergence signals.

• Engulfing Candle Entry (True/False): The EA waits for engulfing candle patterns within marked zones.

Trade Management:

• Define trade entry as a percentage loss of account balance.
• Set take profit levels as a percentage of account balance.
• Implement a breakeven feature that allows users to specify when to move the stop loss to breakeven and close half of the position size. Users can customize the breakeven ratio, such as 3% profit or 1% profit, according to their preferences.

Risk Management:

• Adjusts position size based on user-defined risk percentage and account balance.
• Martingale Strategy: Implements a martingale strategy for additional entry attempts within a consolidation zone. If a trade hits its stop loss, the EA will attempt another entry with an increased lot size according to the martingale method.

Live Entry with Zone Marking:

Allow for live entry when users mark a consolidation zone on the chart with rectangular boxes. Once a zone is marked, the EA will consider it for potential trade entry based on the selected entry types and parameters.

Multi-Time Frame Zone Marking and Entry Types:

• If a zone is marked on the Daily time frame, users should have the option to specify which lower time frames (e.g., H4, H1, M5) the EA should monitor for price action within that zone.
• Users should be able to specify different entry types for each time frame. For example:
  • Engulfing entry only on the M1 time frame.
  • Divergence entry only on the M5 time frame.
• The EA should manage all trades according to the given rules for each time frame and entry type.

Account Authorization:

• The EA will work only on specific authorized accounts.
• If a user wants to apply the EA to any other account, they need to provide the account number for authorization.
• The EA should check the account number it is being applied to and only work if the account number is on an authorized list. If the account number is not authorized, the EA should display a message instructing the user to contact for authorization.

This message provides a clear overview of the EA's features and functionalities, specifying the manual marking of consolidation zones, allowing users to select their preferred entry types, and incorporating trade management options including customizable breakeven settings. It also includes multi-time frame zone marking, entry types, martingale strategy, and account authorization for added flexibility and security.