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
READ BEFORE MESSAGING PLEASE Developer Requirements (Strict): - Expert Level Only: This is a professional-grade, robust trading engine. Please do not apply if you are a beginner or intermediate developer. - Asynchronous Proficiency: You must have deep experience with CTrade and handling asynchronous order execution (Requotes, Busy Servers, and Order Integrity Sync). - Proven Track Record: I require a developer
buy condition when blue color appears sell condition when yellow color appears close all buys when there is a sell order close all sells when there is a buy order
I need a MetaTrader 5 Expert Advisor for XAUUSD. Trend Filter : Trade only in the direction of the main trend. Patterns (Buy) : Hammer, Inverted Hammer, Doji, Bullish Harami, Bullish Engulfing + Green confirmation candle close above high. Patterns (Sell) : Shooting Star, Doji, Bearish Harami, Bearish Engulfing + Red confirmation candle close below low. Entry Rule : Wait for one Pullback candle (Red for Buy, Green for
I am looking for MT4 EA for a task of automated opening of my defined quantity of active market order positions based on many different complex and very detailed rules and features. Quantity of active market order positions to be opened must match my defined value which can be just about anything. Several functionality features, very detailed ones, are to be implemented. Kindly check attached zip file with
I would like to build a very very low budget bot and test run it to see if it would be profitable on the long run or if it will just be a waste of money and resources It is python 70% of the engine logic codes needed are already existing on githubs and python traders community So you are not building from scratch at all So kindly go through it Thank you
* After every loss, It does not increase the lot sizes gradually. For example, after a loss of 0.01, it goes straight to 0.05 lots. It does not follow progressive order. 0.01;0.02;0.03;0.04;0.05... etc. From 0.01, it goes straight to 0.05 * Also If there is a win, it does not return to 0.01 it continues on the last lot size 0.06. After every win the EA should start again at 0.01 * I would also like to adjust the
Società di investimento con attività tra Sanremo e Monaco ricerca un giovane collaboratore con esperienza nell’utilizzo avanzato di MetaTrader 5. Si richiede la conoscenza della lingua italiana e inglese. Attività Il collaboratore si occuperà di: • eseguire backtest di strategie di trading su MT5 • effettuare ottimizzazioni parametri tramite Strategy Tester • analizzare risultati e robustezza delle strategie •
I want to create a loss recovery account.I have a zone recovery EA.It sometimes gives more buy sell entries than the target. This causes a lot of loss. I want to create an EA to reduce that loss by 40% to 50%. Example: My EA has lost $2200 with a buy sell entry. Now the new EA will give an entry that can reduce the loss from $2200 to $700
I am looking for an experienced MT5 developer to build a custom, aggressive XAUUSD scalping EA with structured basket management and momentum continuation logic. This is not a generic EA — it requires careful architecture and proper risk control. Key Requirements: Instrument & Timeframes: XAUUSD only M1 execution chart M5/M15 for directional bias and structure context Execution & Basket Logic: Aggressive basket-style
I need any highly profitable MT5 robot which trades any sythetic indices on deriv very profitably. It should have good risk management and any good strategy The EA should have good risk management and can trade small accounts like 50 - 100USD Developers who have already made robots have higher chance