I need a coder to write an EA for MT4 based around a trend indicator which I have. ? Although the indicator is freely available on the web, I have modified it to contain my preferred settings. ? This indicator is in the form of a meter which analyses 14 separate indicators over 7 timeframes. ? It then calculates which indicators are going up and which are going down and expresses the resultas a percentage. ? For example, a result might be
Because of the manner by which the indicator calculates its value, it is dynamic and doesn't calculate history bars. ? In its current form, backtesting is not possible.
The rules for the EA are simple:
1) ? Go long when the trend UP is 60% or more. ? Wait for close of 5 minute bar before entering market at open price of next bar.
2) ? Variable stoploss to be set at level derived from MTF version of Chandelier Stop (I use 15 minute Chandelier)
3) ? If there is not a long Chandelier Stop in place at time of going long, stoploss is to be set at low of last x bars until a long Chandelier Stop does form.
4) ? Exit long either when stoploss is hit or if trend UP falls to 44% or less. ? Do not wait for bar to close to exit.
The opposite rules apply to shorts, allowing for bid/offer spread.
The EA needs to have the capability to reverse a position within the same bar. ? The EA also needs to be able to re-enter in the same initial direction after a stop has been hit. ? Some EA's that I have seen do not allow either of these.
The EA also needs to have the ability to trade within certain times.
It also needs the capability to be able to trade multiple instruments simultaneously, possibly with slightly different rules/settings.
Initially I intend to use the EA for forward testing before using it for live trading with ODL Securities, London.
I can provide the Trend and Chandelier Stops indicators.