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Desired
outcome:
As a result
of our collaboration I want to have at the end:
-
Functional EA for MT4
-
Source code for the EA for MT4
-
Indicators that are used in EA being drawn on
the chart for MT4
-
Source code of the indicators for MT4
Other
add-ons expected from you as developer:
- Handling of simple errors
- Handling of reconnections etc….
- Your suggestions
Description
of the EA I want to have.
General
assumptions:
For the
calculation of indicators I don't want to rely on the MT4 build in
indicators. I want to have my own indicators to be programmed and drawn at the
bottom (other sections below price) of the chart. The indicators I use in this
EA are versions of Relative Strength Index (hereinafter RSI) and MACD
(hereinafter MACD) but as I stated above I want these indicators to
be programmed based on my description. All the
calculations of indicators are mathematically only adding, substracting,
dividing, multiplying and some simple moving averages well known from web and will be provided based on agreement.
This EA is
designed for EURUSD currency pair and trades long and short.
It is
working only on closed bars, i.e. entry conditions for submitting orders are
evaluated at the beginning of new bar considering values of RSI and MACD for
last closed bar. Entry conditions are comparison of RSI values and MACD values of
previous bar(s) and comparison of RSI values and MACD values to certain
trashold (e.g. below 30 or above 70 or in certain window 40 to 60 or similar). Entry orders are limit orders
based on mid-point of last bar (i.e (high+low)/2) +- PriceAdjustment.
Stop-loss
order is based on percentages of input price (e.g. if entry price is 1.18 and
STP value is 2% than STP order should be submitted at 1.1564 right after the
entry order is fulfilled)
Exit orders
are basically at the closing price of the entry bar (i.e. minute or two before
closing of the bar)
Cancellation
of orders: If entry order is not fulfilled within the next bar after entry
conditions were evaluated OK (i.e. practically during the bar it was submitted)
entry order has to be cancelled
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