Combine 2 indicators and create automated system (mql4)

MQL4 Uzman Danışmanlar

İş Gereklilikleri

I want to build a simple EA to scan 28 major forex pairs to determine which are tradable instruments based on my strategy. 


I use a MA cross of 20 hours and 5 hours which is the trigger for my system. Once this happens, I use FXTS2 MACD 1.0 (12, 26,9) in a standard configuration, where I use only the MA crosses (not the histogram) and the zero level line for reference.


After that, I also use two other confirmation indicators to return me a pointing score to help me to determine the level of risk that I will put on the trade. These other 2 indicators can vary depending on the market conditions. All of them are installed in the MT4  like CMF, Absolute Strength Histogram, Hull MA, Waddah Attar Explosion and Rex Oscillator. I would like to have the option to select which are the other 2 confirmation indicators to be used in a predetermined list. 


So basically my EA Scan operates like this;

  1. Based on EMA20 and EMA50 cross, return the trend. 

  2. The 1st confirmation indicator, which is actually FXTS2 MACD, returns me 0, 3, 5 or 7 points. If we have a sell trend indicated by EMA Cross: 

    1. 0 point in case the lines are positioned above the zero line level and there is a reverse signal, the yellow line is crossing or above the red line;

    2. 3 point in case the lines are positioned below the zero line level but there is not sell cross signal or the yellow line is positioned above the red line;

    3. 5 point in case the lines are positioned above the zero line level but there is a sell cross signal (the yellow line is crossing or below the red line) or even the red line is above the yellow line;

    4. 7 point  in case the lines are positioned below the zero line level and the red line is crossing or below the yellow line;

    5. Exactly the reverse condition to be applied  when there is a buy trend indicated by the EMA Cross

  1. The 2nd confirmation indicator returns 0 or 2 point in case it is in accordance with the EA Cross trend

  2. The 3rd confirmation indicator returns 0 or 1 point in case it is in accordance with the EA Cross trend


This is the first step for a further automated trading system, which must have other fundamental inputs and position size and risk policies based on volatility tools that were impacted in the last couple years. My goal is to have an initial scan system to optimize my analysis time and understand the adjustments that may need to be made on the strategy for the next steps. After 1 month of operation and with an improvement on the investment capacity, a most comprehensive project is set to be discussed. 

Please let me know your estimate and time to finish. 

Thanks,

Lucas M




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