Prabu-EA

If anybody is interested in developing the code for this EA, which needs to run in MT4 platform, Please give your quote.

External Selections:

Currency Pair:

Lot:   e.g. (from (0.01) (1000 Unit))

Time Frame:

No. of Bars / candlestick:

Stop:   e.g.Distance from MVG (PIPS in 5 decimals: 0.00010):

Target:

Trailing Stop:

Buy only:

Sell only:

Buy & Sell:

Strategy Overview:

EA should accommodate any currency pair, any lot size (units also), any time frame (even from 1 minute TF) and only buys or sells or both as per the external selection. Trailing stop (TS) based on the Distance from MVG. (PIPS in 5 decimals: 0.00010)

Only one currency pair should allow to trade as per the selection.

1. Only one position at a time. E.g Buy or Sell.
2. Trailing stop and Reverse Order should be at the same rate always. That means, if Trailing stop triggers, simultaneously Reverse entry order should also trigger. i.e. Trailing Stop and Reverse orders should be independent, one order for Trailing stop and other for Reverse order. After Reverse order triggered, again Reverse order should have Trailing stop order. It should be a continuous process.
3. Trailing Stop orders should place separately as some of the Brokers do not allow Trailing stop orders placed together.

EA Conditions:

E.g. Simple Moving Average (SMA) is 100 and Time Frame (chart) 1 Hour for EURUSD pair.  SMA Price is 1.42505 and the Distance from MVG (external Value) is 0.00100 (PIPS in 5 decimals).

1. EA should confirm first that there is no open position before placing fresh orders.  If there is any open position, e.g. Long Open position, EA should place only Stop Loss (sell) order and a Reverse order (sell) as per the below conditions.

2. For New order EA should place a BUY order at 1.42605 (1.42505 + 0.00100) and immediately place Trailing Stop (TS) order (SELL) at 1.42405 (1.42505 – 0.00100) and a SELL order at 1.42405 (1.42505 - 0.00100) and immediately place Trailing Stop (TS) order (BUY) at 1.42605 (1.42505 + 0.00100).

3. If Buy order triggered, Trailing stop order and Reverse order must always be on the SMA Price. E.g If the SMA rate was changed to 1.42755 by next 1 hour, TS (SELL) should be (1.42755 - 0.00100) = 1.42655 and SELL order should be (1.42755 – 0.00100) = 1.4265 and its Trailing Stop (BUY) should be (1.42755 + 0.00100) = 1.42855.

4. If the first BUY order Trailing Stop triggered and position closed, simultaneously SELL order also be triggered and SELL position opens with a Trailing Stop.  EA should open n BUY order, as the previous BUY order is closed. Like this, EA should continuously open orders. (That means, always there should be an open position with a Trailing Stop and a reverse order with a Trailing Stop.)

5. A very important point is that the Trailing Stop which is initially placed should always move in favour, even if SMA moves in the opposite direction. That means, BUY order triggered at 1.42605 and Trailing Stop is 1.42405, if the SMA is 1.42505. After opening the position SMA moves to 1.42455, actual Trailing Stop is 1.42355 (1.42455 – 0.00100), this should NOT be allowed as this will increase the loss from 20 pips to 25 pips and more. Maximum Stop Loss should always be 20 pips. Trailing Stop should always move in favor and not in opposite direction. Reverse order should also have the same logic as Trailing Stop and Reverse order rates are always the same.

6. EA should have Money Manager.

If any clarification, please contact email: sprabusg@gmail.com

Thanks & regards

Prabu