Termos de Referência
Please assist to write an EA with the following strategy.
(A) Open order conditions:
There must be a combination of two candlesticks.
(Buy)
Candle 1: RSI [variable, e.g. (7)] closes below [variable, e.g. 20]. The low of Candle 1 is lower than the low of [variable] number of previous candle(s). Candle 1 is a bearish candle.
Candle 2: The low of candle 2 is lower than the low of Candle 1. Candle 2 is a bullish candle. Candle 2's body is taller than Candle 1 (i.e. engulfing Candle 1).
--> Vice versa for Sell Signal.
(B) Stoploss
(Buy)
Stoploss= ATR [variable, e.g. (14)] below the low of Candle 1.
Virtual stop loss is perferred.
(C) Take Profit
(Buy)
Take profit is based on reward-to-risk ratio (which is a variable). For example, [(take profit)-(entry price)] / [(entry price)-(stop loss)]=1
Trailing stop loss is an option upon the price attaining the above reward-to-risk ratio.
(D) Lot size
Options for both fixed lot and money management. For money management, I am in mind risk per trade based on equity but have not figured out the formula. It is okay to use simple formulas, such as a certain multiple of the equity (for example, 0.01 lot for every $100 balance, rounded down).
(E) Other features
Password function (if wrong, cannot trade); trading hours (broker hour); magic number (if set to 0, the EA automatically generates magic number for this specific chart); work with ECN broker, 5-digit broker; source code to be provided.
PS: some reading materials may be provided to explain the above strategy.
PS2: some minor functions may be added to the above strategy.
PS3: I have in mind a very similar EA/strategy, but with a slightly different candlestick pattern. I may pay extra for this second EA.