Trend, Volume and Momentum EA

The idea of the trading system is as follows:

·       Market entries are performed when conditions of 3 separate indicators are met and it happens within a specific time window. Trade exit via either fixed Stoploss, Take Profit or Trailing Stop.

Indicator 1.

·         Higher time frame MACD. Standard settings adjustable, including source timeframe.

Indicator 2.

·         Time Segmented Volume (TSV). Standard settings adjustable, including source timeframe. Note: a version of TSV is already available from Codebase.

Indicator 3.

·         A MACD using RSI as the source. Standard settings for both the MACD and RSI adjustable, including source timeframe.

Indicator 1 Conditions.

·         Long: MACD histogram diverging (rising) above baseline.

·         Short: MACD histogram diverging (falling) below baseline.

·         Neutral: MACD histogram converging (falling above the baseline or rising below the baseline baseline).

Indicator 2 Conditions.

·         Long: TSV above zero and above TSV MA.

·         Short: TSV below zero and below TSV MA.

·         Neutral: TSV above zero but below TSV MA or, TSV below zero but above TSV MA.

Indicator 3 Conditions.

·         Long: MACD of RSI  histogram diverging (rising) above the baseline.

·         Short: MACD of RSI histogram diverging (falling) below the baseline.

·         Neutral: MACD of RSI converging (falling above the baseline or rising below the baseline).

Time Settings.

·         Start and finish times need to be adjustable to determine when the EA is allowed to trade and when it's not allowed to trade.

Timeframe to Trade.

·         The timeframe that the EA is to take entries from is to be adjustable in settings. All MT5 timeframes should be available.

Risk Management.

·         lots to be auto calculated based on a percentage of account balance, adjustable to 2 decimal places. If Stoploss is triggered, the loss cannot exceed the percentage of risk allocated.

Trade Entry Signals.

·         Buy – at market on the close of the first candle/bar when all 3 indicators meet the long condition and time is within the permissible window. Trade only taken on first candle/bar. Another trade can only be taken when the conditions have cycled through neutral/short and then back to buy again and time is within the permissible window.

·          Sell – at market on the close of the first candle/bar when all 3 indicators meet the short condition and time is within the permissible window. Trade only taken on first candle/bar. Another trade can only be taken when the conditions have cycled through neutral/long and then back to sell again and time is within the permissible window.

Trade Closure

·         Trades to close by either fixed Stoploss, Take Profit or Trailing Stop.

• Stoploss - Adjustable via settings to a number of points in the loss direction. To be placed automatically for every trade at the same time as entry.

• Take Profit - Adjustable via settings to a number of points in the profit direction. To be placed automatically for every trade at the same time as entry.

• Trailing Stop - Trigger for trailing stop (number of points in profit direction) and number of points to trail by adjustable in settings. Stop Loss cannot be moved towards the loss direction, i.e., the Stop Loss value cannot be increased.

Manual Intervention.

·         It must be possible to override the EA, i.e., move Stoploss or close trade manually.

  Optimisation.

·         It must be possible to test and optimise the EA via the MT5 Strategy Tester.

  Chart Indicators.

·        It would be preferable to have the option of displaying all 3 indicators on the chart, toggle individually on/off via settings.

Available Markets.

·         The EA must be able to trade on all markets available through the MT5 broker platform.

Source Code.

·         The source code for the EA must be made available during delivery.

Future Updates.

·         The developer must agree to provide future revisions for free and within an appropriate timescale should any issue arise; limited to fixing issues associated with the requirement specification outlined above and not including addition of any new features. Addition of any new features would necessitate a new work order.

I have tried to be as explicit as possible but please contact me if you require any clarification or to illicit any further requirements that I may have missed that you feel would be beneficial.