FreelanceSeções

Expert Advisor based on Donchian Channel

MQL4 Experts

Trabalho concluído

Tempo de execução 2 dias

Termos de Referência

Indicators

  • Donchian channel length 50 (parameters must be allowed to be modified)
  • Stochastic default parameters and lower band 25, upper band 75 (parameters must be allowed to be modified and this indicator must be OPTIONAL having the option to turn it on or off

Time frame
  • 30 minutes default but must allow to modify it

Buy entry rules:

  1. Price must touch the bottom band of donchian channel
  2. Once the price touch the bottom band EA will wait until current candle is closed
  3. The closed candle touching the bottom band must have a wick with size of 55% or more of the candle's body it doesn’t matter if it’s a bullish or bearish candle. (Parameter of 55% must be changeable to any other % number)
  4. Wick must be size of 50 pips or lower to be considered as valid if it’s more than 51 pips EA won’t consider it as signal. (This parameter must be changeable to any other number of pips)
  5. OPTIONAL RULE that must have the option to turn on/off: body of the candle must be greater than X amount of pips (15 pips default) to be considered as valid signal, this is to avoid indecision candles but as I said must be optional rule.
  6. OPTIONAL RULE that must have the option to turn on/off: Stochastic must be 25 or lower but as I said it must be optional.
  7. After all conditions are valid the buy entry happen at the starting price of next candle.
  8. Stop loss will be 5 pips lower than the current bottom band (parameter must be changeable to any other amount of pips)
  9. Minimum stop loss size must be 15 pips (parameter must be changeable)


Sell entry rules

  1. Price must touch the top band of donchian channel
  2. Once the price touch the top band EA will wait until that candle is closed
  3. The closed candle touching the top band must have a wick with size of 55% or more of the candle's body it doesn’t matter if it’s a bullish or bearish candle. (Parameter of 55% must be changeable to any other % number)
  4. Wick must be size of 50 pips or lower to be considered as valid if it’s more than 50 pips EA won’t consider it as signal. (This parameter must be changeable to any other number of pips)
  5. OPTIONAL RULE that must have the option to turn on/off: body of the candle must be greater than X amount of pips (15 pips default) to be considered as valid signal, this is to avoid indecision candles but as I said must be optional rule.
  6. OPTIONAL RULE that must have the option to turn on/off: Stochastic must be 75 or higher but as I said it must be optional.
  7. After all conditions are valid the sell entry happen at the starting price of next candle.
  8. Stop loss will be 5 pips lower than the current bottom band (parameter must be changeable to any other amount of pips)
  9. Minimum stop loss size must be 15 pips (parameter must be changeable)

Rules for trade managing

  • EA must have the option to enter as input the amount of dollars that will be in risk per trade, for example $150 per trade.

  • LOT SIZE FOR THE TRADE: The risk amount must be divided by the number of pips given by the stop loss, for example, let’s say the size of the wick was 25 pips plus 5 pips distance of the top or bottom band the SL will be 30 pips in total, then $150 divided by 30 is 5 dollars per pip so in pairs like EUR/USD the lot size will be 0.5. If this is a problem for other pairs I am ok if it is calculated as all of them were EUR/USD or I am open to suggestions.

  • BREAK EVEN RULE: EA must have break even 15 pips default but it must be changeable

  • TAKE PROFIT: I want to have 2 options for take profit.
  • Option A: will use risk vs reward ratio 1:3, 1:2 or 1:1 for example if my stop loss is determined as 30 pips and I select the option 1:3 the take profit will be set as 90 pips distance, if I select 1:2 take profit will be 60 pips and so on. ( can you make the option to set any risk vs reward ratio for example 1 : 2.5 or 1 : 1.75?
  • Option B: this one will be a mix of risk vs reward and trailing stop. When the trade reach the ratio chosen for example 1:3 it won’t close the trade but it will start trailing stop with trailing step size the same as the original stop loss size, for instance, my stop loss was 30 pips and I selected 1:3 ratio, when the trade is 90 pips positive will start the trailing stop with trailing step of 30 pips same as stop loss.

ADITIONAL RULES

  • EA must have trading hours option and be allowed to set on/off , this is to avoid low volatility times or high impact news times but must be optional

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Informações sobre o projeto

Orçamento
30 - 400 USD
Desenvolvedor
27 - 360 USD
Prazo
de 1 para 5 dias