Good afternoon. I would like to have a pinbar ea, which trades automatically when it detects that the previous bar was a pinbar. I am also going to attach an indicator, which could help you get ideas in coding this EA.
This is a high level view:
1) Basic function is it looks at the current bar right when it finishes, and makes a decision on whether it is a pinbar or not. For example, a simple rule could be 72% of whole candle is wick, and rest 28% is actual body. So anything >= 72% wick is classified as pinbar.
2) If it deems at the close of the current bar that it is a pinbar, it immediately opens an order in the direction of that pinbar. The important part here is that it immediately acts and takes an order, if the previous bar was indeed a pinbar.
3) It can do that for every open chart in your MT4.
4) Basic requirement is that it can do that for range bars, tick bars etc. For example, for a 50 pip range bar chart, it detects again when the bar will close and classifies it.
5) Based on #4, it is very important to see whether there is a mechanism in MT4 to detect if the current bar has changed. I don't know if MT4 gives this possibility. But this is a requirement because for example on a 4 hour chart, sure you know the bar will change after 4 hours. But in a 50 (or 100, or 200) pip bar, the bar will change whenever the whole range of pips has been covered.
It would be easier if this EA just recognizes when there has been a bar change, and immediately makes a decision on the previous bar based on point 1.
A simple algorithm approach I am thinking of is this:
1) Detect when the current bar has changed.
2) Immediately go to previous bar, subtract low from high to get the whole candle length.
3)Subtract close from open to see whether candle was bullish or bearish. If bullish, we are looking to buy. If bearish, we want to sell.
4)For example in the case that the close was higher than the open (bullish), subtract the open from the low so that we know how big the wick is.
5) Compare the length of the wick to the length of the whole body (wick length divided by whole candle length perhaps). If the wick is 72% or more of the body, we immediately take a bullish trade.
Similar for bearish trade. I ncase of time charts, we might also want to take a look if there is a wick above the close for a bullish trade, or below the close for a bearish trade.
It would be great to do some statistical analysis of the famous pinbar through this EA. If you take a look at it, I will be very thankful!
Pedidos semelhantes
I need a ready made profitable system with live account trade or demo that can be back-tested for 2 years with good profits. Pls consider drawdown to be low , source code will be provided at the end. Very important sending 10 days demo before negociation , thank you
I am looking for an experienced MQL5 developer to convert my existing trading strategy into a fully automated MetaTrader 5 Expert Advisor (EA). Requirements: Develop a robust and efficient MQL5 Expert Advisor based on my EMA trading strategy. I will provide the complete trading logic, including entry, exit, risk management, and trade management rules. The EA should execute trades automatically without manual
I have a EA for XAUUSD which works awesome in sideways and trending market as well, capital requirement is only 2000USd and weekly profit is around 1500-2000 USD. I am using this bot from 3 months and getting continuous good result
Советник. Открываю сделку вручную. Советник закрывает эту сделку по окончании установленного количества свечей...то есть советник по таймеру окончания свечи. Например; установил время свечи равное 2 ( 2 свечи ), открыл позицию вручную и по окончании второй свечи советник закроет сделку
Hello, I'm looking for EA or indicator that would help me reach at least 0.5 lot daily on XAUUSD pair. I trade with 30-35 spread on live standard account. 0.3 to 0.5 lot on XAUUSD is all i need per day, without losing too much money during week or month doing that. Every advice od product is welcome. tg @stellarcptadmin
Professional MT5 Multi-Asset Trading Robot Realistic Architecture & Practical Characteristics Specification Below is a filtered, realistic, and practical specification for an excellent automated MT5 Expert Advisor focused on XAUUSD scalping (M1–M15) with multi-asset capability. I've removed marketing fluff and kept only what's technically achievable and profitable in live trading conditions. CORE IDENTITY Attribute
I am looking for a professional EA (Expert Advisor) trading bot for XAUUSD with a high success rate and low drawdown. Key requirements: Consistent and stable profitability Low drawdown (preferably under 10%) Strong risk management High risk-to-reward ratio No martingale or dangerous recovery systems Works on MT4/MT5 Adjustable lot size, stop loss, and take profit News filter and spread filter Backtesting and verified
Expert Advisor Development Specification (MT5) Project Overview I am looking for an experienced MQL5 developer to build a professional Expert Advisor for MetaTrader 5 dedicated exclusively to Bitcoin trading (BTCUSD / BTCUSDT). The objective is to create a robust, adaptive trading system focused on consistency, controlled drawdown, and long-term scalability. The EA must NOT use: Martingale Grid systems Recovery
Dear All i am working on strategy in forex market specifically in xausud and i just want someone to make it automatic execution mode as per my requirements with propee risk management my broker is exness and i have an account in MT5
✅ MT4 EA Developer Checklist (For Your Ladder EA) 1️⃣ Indicator Integration EA reads signals from provided custom indicator (.ex4 or .mq4) Detects “Buy Next” / “Sell Next” signals on current candle Works with arrow-based or buffer-based signals 2️⃣ Next Candle Execution EA does not trade on the candle where the signal appears Orders placed only at first tick of the next candle Timeframes supported: M1, M5, M15