I am seeking an experienced MQL4 developer to create a custom Triple SuperTrend indicator for MetaTrader 4 (MT4). This indicator will be incorporated into an EA in the near future, so I will need this to delivered as an mq4 file so the source code is readable. A future EA will make trading decisions based on whether the 3 SuperTrend lines are in uptrend/downtrend, so it is crucial this indicator is coded in such a way this can be easily interpreted.
For example, an EA may make a decision to buy based on all 3 SuperTrend lines being in an uptrend, and close when just one moves to a downtrend. Or, it may make a decision to buy when just 2 of the 3 SuperTrend Lines are in an uptrend, and close when all 3 move to a downtrend.
Brief documentation from you (the developer) on how this indicator can be best interpreted by an EA is crucial when you deliver the mq4 file.
Calculation
For each of the 3 SuperTrend lines, the calculation is as follows:
Upper Band: (High + Low) / 2 - Multiplier * ATR
Lower Band: (High + Low) / 2 + Multiplier * ATR
The indicator then determines whether the current closing price is above or below these bands:
If the closing price is above the lower band, it indicates an uptrend for that SuperTrend.
If the closing price is below the upper band, it indicates a downtrend for that SuperTrend.
Basic Parameters
By default, this indicator will use the following settings:
SuperTrend 1: ATR period = 10; ATR Multiplier = 1
SuperTrend 2: ATR period = 11; ATR Multiplier = 2
SuperTrend 3: ATR period = 12; ATR Multiplier = 3
The ATR period and multiplier should also be customizable in the settings of the indicator.
Visual Representation
When applied to a chart in MT4, the indicator will plot 3 SuperTrend lines. Green lines will represent uptrends, and red lines will represent downtrends.
When the price moves from an uptrend to a downtrend, the lines should switch colors accordingly, providing a clear visual cue.
Deliverables
- A fully functional Triple Super Trend indicator that accurately displays uptrends and downtrends on the MT4 platform, delivered in mq4 format so the source code can be easily read by myself or a future developer.
- Brief documentation from you on how the indicator functions, and how the data can be best interpreted by a future EA trading bot.
Please let me know if you have any other questions. Thanks for your time and consideration!
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