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To help illustrate what specifically I want the Expert Advisor to perform. I have attached pictures to best explain the settings.
(PICTURE 1 in FILES)
MY SETTINGS FOR THE AVERAGE TRUE RANGE BANDS (ATR BAND THAT IS THE RED LINE ON THE CHART)
(PICTURE 2 in FILES)
On this picture I have 3 EXPONENTIAL MOVING AVERAGES on the chart.
3 EXPONENTIAL MOVING AVERAGE YELLOW
8 EXPONENTIAL MOVING AVERAGE BLUE
50 EXPONENTIAL MOVING AVERAGE WHITE
I would like this bot to function on 1 MINUTE TIMEFRAME and I am using it on XAUUSD.
Here are the rules for the bot...
IF THE 8 EMA CROSSES and CLOSES ABOVE 50 EMA - TAKE A LONG TRADE - STOP LOSS AT THE RED ATR BAND
IF THE 8EMA CROSSES and CLOSES BELOW 50 EMA - TAKE A SHORT TRADE - STOP LOSS AT THE RED ATR BAND
If the 3 EMA CROSSES and CLOSES ABOVE the 8EMA and the 8 EMA is ABOVE the 50 EMA - TAKE A LONG TRADE
If the 3 EMA CROSSES and CLOSES BELOW the 8EMA and the 8 EMA is BELOW the 50 EMA - TAKE A SHORT TRADE
--- ONLY 1 LONG AND 1 SHORT trade at any given time. (I AM HEDGING MY POSITION if TRADE GOES AGAINST ME - I WANT THE BOT TO TRADE MAX 1 LONG AND 1 SHORT AT ANY TIME)
----- TAKE PROFIT RULES ---> When the 3 EMA RE - CROSSES the 8 EMA and price CLOSES AND the trade is in PROFIT of any amount CLOSE THE TRADE (this profit should include paying for spreads... actual realized profit of any amount.. spreads on gold is normally 0.12 pips for my broker
--- IF POSSIBLE - PLEASE if there is a way to select a specific risk amount in dollars per trade. like risk $100 per trade and be able to change that $ amount as an example that would be the best.
2nd best would be risking specific % of my balance per trade.
I have included more pictures to help describe the strategy and show some examples if this helps.
Thank You for your consideration. Let me know if you have anymore questions. I did my best to get all the specific details in.