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I need an Expert Advisor (EA) that uses the "ZigZag" indicator included with Metatrader 4. First, the EA calculates the high and lows in the range, and calculates the distances between them, drawing the "zigzag" lines.
Zig lines are those going up, from left to right. Zag lines go down from left to right.
The EA calculate the vertical length of the zig lines, from left to right, and divides them by a specified number input by the user, to get the average zig length. For example, say the third zig vertical distance is 200 points long, the second is 150 points, and the first line is 160 points long. say the averaging number is 3. So the total vertical length of the 3 most recent zig lines is 510 points, and the average length is 170 points.
Then the EA places a sell limit order the average length above the current price, so 170 points in this example.
The Stop Loss (SL) and Take profit levels are input by the user.
The EA does the same for the zag (down) lines, except the order placed is a buy limit placed below the current price.
If the limit orders are not opened before the next zig or zag line forms, the current limit order is deleted, and replaced by a new order, after the average has been calculated again. If the new line is a zig (up) line, a new sell limit is placed. If the new line is a zag (down) line, a buy limit is placed.
I have images visualizing how the EA works. The first attached image is a example of a buy trade, and the second image is a sell example.
I require the MQL4 code, with comments to explain main functions. Forex trading experience is an asset.
The base pay will be $60 USD. $30 Bonus will be given for doing a good job.
I have more EAs to be made, so I'm looking for a skilled and reliable coder, with more opportunities possible later.
Thanks.
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