CAPSTONE BOT

CAPSTONE BOT 1

We are in need of an experienced programmer to create an Expert Advisor that will trade the Asian Range breakout during London /New York session.

SPECIFIC REQUIREMENTS

STEP ONE:  The E.A should box the Asian Range from 12 am to 8 am (on Meta trader 5).

STEP TWO: The E.A should draw Horizontal Lines at 25 pips intervals .E.g. 1.26250, 1.26500, 1.26750, 1.27000 etc. at the London Open (8 am).

STEP THREE:  TRADE ENTRY CONDITIONS: The E.A should wait for the market to breakout of the Asian Range during London /New York session to the upside or downside and also to breach a Horizontal Line.

BUY ENTRY CONDITION: If the breakout is to the downside and a Horizontal Line is breached, the E.A should target to buy. If a Horizontal Line E.g. 1.26250 is breached, the E.A should place a Buy Stop at 1.26500 with a target of 100 pips Take Profit and a Stop Loss of 25 pips.

NOTE ONE: If the market continues to trade lower, the E.A should be moving the Buy Stop from the present Horizontal Line to the Lower one until the market reverses/retraces upward and triggers the Buy Stop. If it did not reverse, there should be no trade that day and the Buy Stop should be deleted after 24 hours that the order was placed.

NOTE TWO: As soon as the Buy Stop is triggered, the E.A should place a Sell Stop at the Stop Loss Level E.g. if the Buy Stop is triggered at 1.26500, the Stop Loss Level should be at 1.26250 and that is where the E.A should place a Sell Stop with Stop Loss at 1.26500 (25 pips) and Take Profit at 1.25750 (100 pips).

SELL ENTRY CONDITION: On the other hand, if the breakout during London/New York session is to the upside, the E.A should target to sell the market. The E.A should wait for a breach of a Horizontal Line at the upside then it should place a Sell Stop at the Horizontal Line below the one that is breached.

NOTE ONE: In the case the market continues to trade up, the E.A should continue to move the Sell Stop upward until the market reverses/retraces downward and triggers the Sell Stop. Profit Target is 100 pips and Stop Loss is 25 pips. If the Order is not triggered within 24 hours, the Order should be deleted.

NOTE TWO: As soon as the Sell Stop is triggered, the E.A should place a Buy Stop at the Stop Loss level of the Sell Stop. Profit Target 100 pips, Stop Loss 25 pips.

CAVEAT : If a Buy trade is stopped and the Sell Trade triggered is also stopped, the E.A should triple the Lot Size and enter a Sell Trade at the Level where the Sell is Stopped (Ranging Market). The Profit Target for the triple Entry should be 25 pips and vice versa for a Sell trade that got stopped first and a Buy is triggered and got stopped, the E.A should triple the Lot Size and enter a Buy at the Level where the former Buy was stopped with 25 pips TP target

FILTER

1.       Currency pair should be GBPUSD. 

2.        No trade should be triggered if the spread is more than 5 pips.  .

3.    Lot Size 0.2 for $1,000 Equity and its multiples as the accounts size grows.

4.       A running trade could be held overnight or even over the weekend if the target TP has not been reached.

MANAGING OPEN POSITION / TRAILING STOP

If a buy trade that is triggered, crosses 20 pips in profit the EA should move the stop loss to breakeven level. If the buy trade hits 35 pips EA should lock in 20 pips profit, like wise 50 pips lock in 40pips profit; lastly 75pips in profit lock in 60 pips in profit. Final take profit must be 100 pips.

Therefore every trade that EA enters should be 25 pips stop loss and 100pips take profit. These procedures should be repeated for a SELL trade.

N.B.: If the trade hits 25 pips, EA should delete the opposite pending order. For example, a buy trade was triggered at a horizontal level of 1.2700 with a stop loss and sell stop at 1.26750, if the trade moves to level 1.2750 the sell stop should be deleted and stop loss trailed(as discussed above). Vice versa for a sell trade