A word document was forwarded detailing a submitted request for EA programming services. Requirements below explain in detail EA requirements for MetaTrader 4 platform. Automatic trading is not a requirement in the EA design, however, the EA will allow trades to be placed with applied SL levels depending on the previous low, or high of the previous candlestick upon order placement within the MT4 terminal. Further clarifications can be gained from the commentary below from A to B.
a. Long Positions
a. Set the SL at, or below the low of the previous candlestick[L]
b. Ability to set the SL at, or blow previous [C]
b. Short Positions
a. Set the SL at, or above the high of the previous candlestick[H]
b. Ability to set the SL at, or above previous [O]
In summary, when a long position is desired to be placed -the size of the trade could be set or manually entered, and upon a long position, set the stop loss of the trade to be at, or below and adjusted by some percentage of [L] of the previous candlestick. Inversely, when a short position is desired, the stop loss of the short position should at, or above the [H] of the previous candlestick.
Timeframe:
The preferred timeframes of trading include M1, M5, M30, 1H, 4H, and 1D. The expected EA timeframe would be 1M, and also be used for any timeframe which is displayed within the active or set within the chart.
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