EA to recognize signals based on indicators, put pending orders and manage positions with Trail Stops.

MQL4 Experts

Trabalho concluído

Tempo de execução 13 dias
Comentário do cliente
Nice job

Termos de Referência

Resume of the EA.

EA is based on signals given by three indicators. When this signals are valid and true, EA draw in the chart with the Fibonacci Retracements Tool certains levels to know Stop Loss, Entry Level, Take profit and a other level. Price interacts with these levels and EA will be able to put pending orders (Buy stop for BUY / Sell stop  for SELL). Finally if order is opened, EA manage the position with Trail Stops until trade is closed by price hit Stop Level or Take Profit.

Indicators (The 3 indicators are attached)

1. Hull Moving Average period 20 and Hull Moving Average period 10: Use for know the trend. I use HMA mladen, indicator is attached.
2. Demark_trend_new: Only use for know Tom Demark Points Level 1 Supply and Demand. For know pivot points. Indicator is attached.
3. TMS_Osc: For know momentum and confirm trend. 

* For more knowledge, HMA and TMS_Osc are used to know trend. Tom Demark Point Level 1 in addition with HMA and TMS_osc with same trend are used to know pivot points to continue the trend.

¿What is a Tom Demark Point Supply or Demand, Level 1? Figure 1

Tom Demark Demand Point:

- On a three consecutive candles A+B+C, the low of B candle is lowest than the lows of A and C candles. 

Tom Demark Supply Point:

- On a three consecutive candles A+B+C, the high of B candle is higher than the highs of A and C candles.


Signals (on a pattern on four consecutive candles A+B+C+D)

- BUY: (figure 2)
1. Tom Demark Demand Point, Level 1, on 3 consecutive candles A+B+C.
2. Hull Moving Average period 20 and period 10 are both up and with same colour (green) from B to C candles.
3. TMS_Osc: RSI Signal (Green) > Trade Signal (Red) and RSI Signal up (Never Flat), from B to C candles.

- SELL: (figure 3)
1. Tom Demark Supply Point, Level 1, on candles A+B+C.
2. Hull Moving Average period 20 and period 10 are both down and with same colour (orange) from B to C candles.
3. TMS_Osc: RSI Signal (Green) < Trade Signal (Red) and RSI Signal down (Never Flat), from B to C Candles.

When EA recognize the anterior valid signals, at open of candle D, EA draw in the chart with the help of Fibonacci Retracements Tool various levels:

+ To draw Fibo Retracements: 

- BUY: From Highest High to Lowest Low of B+C candles. (figure 4)
- SELL: From Lowest Low to Highest High of B+C candles (figure 5)

+ Levels and prices to know and put in parametres:
- Level 0: Stop Loss. (For BUY is situated in the Lowest Low of B+C Candles / For SELL is situated in the Highest High of B+C Candles)
- Level 1: Entry Level. (For BUY is situated in the Highest High of B+C Candles / For SELL is situated in the Lowest Low of B+C Candles)
- Level 1.5: Level that price reacts with him and, in different situations, EA move SL. (Trail Stop)
- Level 2: Take Profit Level.

If signals are valid and EA draw Fibo Levels, at open of candle D, EA put a pending order with the next parametres:

- BUY: 
+ Type of pending order: BUY STOP
+ Stop Loss: Price of Level 0
+ Take Profit: Price of Level 2
+ Entry Level: Price of Level 1 +1 pip buffer to avoid false signals.
+ Volume or Lot size: ALWAYS 2% of equity.
+ Expiration: ALWAYS 1 candle expiration (If candle D not able to open order, cancel it at close of candle D)

- SELL 
+ Type of pending order: SELL STOP
+ Stop Loss: Price of Level 0
+ Take Profit: Price of Level 2
+ Entry Level: Price of Level 1 -1 pip buffer to avoid false signals.
+ Volume or Lot size: ALWAYS 2% of equity.
+ Expiration: ALWAYS 1 candle expiration (If candle D not able to open order, cancel it at close of candle D)

If the pending order is open, EA always acts with candles closed. Never acts while candle is forming.

Positions always are closed when price hit Take Profit or Stop Loss.

If order is opened EA must be manage positions with Trail Stop when candles closes. There are different situations and EA must reacts:
- OPEN POSITION WITH BUY STOP: 

1. If price closes between Level 1 and Level 0 and price not be able to reach Level 1.5 = Stop Loss remains in Level 0
2. If price closes between Level 1 and Level 0 and price was able to reach Level 1.5 while candle is forming = Stop Loss remains in Level 0, but
- if the following candles close between Level 1 and Level 1.5 = Stop Loss move to Level 1, or
- if the following candles closes above Level 1.5 = Stop Loss move to level 1.5
3. If price closes between Level 1 and Level 1.5 and price not be able to reach Level 1.5 = Stop Loss remains in Level 0
4. If price closes between Level 1 and Level 1.5 but while candle is forming, price was able to reach Level 1.5 = Stop Loss move to Level 1 +1 pip
5. If price closes above Level 1.5 and not reach Take Profit = Stop Loss move to Level 1.5
6. If price hit Level 2 (Take Profit), position closes.
7. If price hit Stop Loss, position closes.

- OPEN POSITION WITH SELL STOP: 

1. If price closes between Level 1 and Level 0 and price not be able to reach Level 1.5 = Stop Loss remains in Level 0
2. If price closes between Level 1 and Level 0 and price was able to reach Level 1.5 while candle is forming = Stop Loss remains in Level 0, but
- if the following candles close between Level 1 and Level 1.5 = Stop Loss move to Level 1, or
- if the following candles close below Level 1.5 = Stop Loss move to level 1.5
3. If price closes between Level 1 and Level 1.5 and price not be able to reach Level 1.5 = Stop Loss remains in Level 0
4. If price closes between Level 1 and Level 1.5 but while candle is forming, price was able to reach Level 1.5 = Stop Loss move to Level 1 +1 pip
5. If price closes below Level 1.5 and not reach Take Profit = Stop Loss move to Level 1.5
6. If price hit Level 2 (Take Profit), position closes.
7. If price hit Stop Loss, position closes.

For more knowledge, I attached examples of trading in the next steps of negotation.

When trade is open, EA must send an e-mail.
When trade is opean, EA Must send an alarm to MT4
When trade is closed, EA Must send and email.
When trade is closed, EA must send an alarm to MT4.

EA can work with any Time Frame.

EA must only open 1 trade for any Symbol, never 2 or more trades at the sime time. If position is closed, EA must be able to open 1 more trade, but never 2 or more.

Lot size is always  2% of equity.

EA must work with EURUSD and GBPUSD.

Figure 1

Figure 2

Fig 3

Fig 4

Fig 5


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