Harmoinc Pattern EA with MM built in.

Hello.

The indicator the bot will be using for entries is https://www.mql5.com/en/market/product/72492?source=Unknown
I will be running this on all 28 Major Minor Pairs on 15m + 30m + 1Hr + 4Hr + 1Day
I currently have no understanding how easy or hard this will be to develop using the Harmonic indicator provided. Will we need to recreate the harmonic indicator from scratch in order for the EA to detect these patterns?


Harmonic Pattern NNFX Trading Bot:

Basic Principle:
Using a Harmonic Pattern indicator for entries. Once entered it uses the NNFX method to make the most out of the trend.


EA Breakdown:

1 – Entries: When a harmonic is detected the Algo enters 2 trades (2 buy trades for Bullish pattern / 2 sell trades for a bearish pattern)


2 – Stoploss: On entering a trade the SL needs to be calculated. By default, the stop loss should be placed “1.5 x the ATR” away from the entry point. The calculation is as followed:

Stop loss =
ATR x 1.5 = <Stop Pips>
<Current Price> - <Stop Pips> = <Stop loss>

Example for a buy trade =
ATR = 86
Current Price = 1.1707
86 x 1.5 = 129
1.1707 - 129 = 1.1578 <--- Stoploss


3 – Lot Size: On entering the trade the Lot size needs to be calculated. By default, the lot size of both trades should total 2% the current equity of the account. (Each trade = 1% equity but both trades = 2%) The calculation is a followed:

Lots=
<Equity> x 0.02 = 2%
2% / <Stop Pips> = <Lots>

Example for a buy trade =
Equity = 50236
Stop pips = 129

50236 x 0.02 = 1005
1005 / 129 = 7.80
7.80 / 2 = 3.90 <--- Lot size per trade

4 – Take Profit: One of the trades must have a Take Profit of 1 x ATR by default.


5 – Trade Management: Once the first trade has hit TP and closed move the Stop loss to the price the trade was initially entered
(Breakeven)


6 – Trailing Stop: Once the trade has reached 2x ATR move the stop loss the 1x ATR