Expert Advisor(EA) for IBFX MetaTrader4 (MT4) (EA FXDIBS)

Completato Pubblicato Jan 15, 2010 Pagato alla consegna
Completato Pagato alla consegna

EA DIBS

This EA that i need has very simple rules. I just need some variables to be flexible and allows me to input different numbers.

In Summary:

1) Take note of Opening price of currency pair at the latest [GMTOPEN] bar

2) Look out for formation of Inside Bars (IB)

3) If the upwards breakout of IB is above the [GMTOPEN] opening price, set a Long buy stop.

If the downards breakout of IB is below the [GMTOPEN] opening price, set a short sell stop. Otherwise, no need to set stop orders

4) It is possible to have both a buy AND sell stop for the conditions described in 3). Just remember to cancel the pending order when the other side of the trade is triggered.

5) When order is triggered, and the price move favorably to 1 x [IBR], close half of the lots.

6) Use trailing stop for the other half lots, as described above under "TRAILINGSTOP [TS]"

7) It is possible to have more than one open trades, with both Long and Short positions. ONLY cancel pending orders, let the triggered orders run their own course.

## Deliverables

**EA DIBS

**

This EA that i need has very simple rules. I just need some variables to be flexible and allows me to input different numbers.

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**Name:** EA DIBS

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**Few things to take note and clarify first:**

- **[GMTOPEN] = OPENING Price of candle at xxxxGMT. Valid for 24hours (till the next xxxxGMT bar starts)

- [IB] = Inside Bars(IB) are bars which have lower HIGHs and higher LOWs than the PREVIOUS bar. (see picture attached)

- [IBH] = Inside Bar High

- [IBL] = Inside Bar Low

- [IBR] = [IBH] - [IBL] = Inside Bar Range (represented in number of pips)

- [LOTS] = Number of Lots calculated by Money Management (details to follow)

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**ENTRY Criteria:**

-When price > [IBH] + 1pip + spread,

--IF price > [GMTOPEN], Enter by Buying Long

--IF price < [GMTOPEN], no trade.

-When price < [IBL] - 1pip,

--IF price < [GMTOPEN], Enter by Selling Short

--IF price > [GMTOPEN], no trade.

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**STOPLOSS [SL]:**

If Entry trade is Long , [SL] = [IBL] - 1pip

If Entry trade is Short, [SL] = [IBH] + 1pip + spread

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**TAKEPROFIT [TP]:**

If Entry trade is Long, and price >= Entry Price + number of pips in the [SL] + 2pips, ---> Close HALF the trade

If Entry trade is Short, and price <= Entry Price - number of pips in the [SL] - spread - 2pips, ---> Close HALF the trade

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**TRAILINGSTOP [TS]:**

-(for the remaining HALF trade)

**[TSP] = Trailing Stop Percentage, expressed in decimals: e.g. 0.8, 0.9, 0.75

-If Entry trade is Long, for every 10pips the current Price is above the Entry price, Increase [SL] price by [TSP]*10pips

-If Entry trade is Short, for every 10pips the current Price is below the Entry price, Decrease [SL] price by [TSP]*10pips

**-Close ALL Long and Short trades, when price is at [CLOSEALLPRICE], express in 4 decimal format: e.g. 1.415 (0=disabled)

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**Money Management:**

[BALANCE] = Balance left in an account

**[RISKLEVEL] = percentage of [BALANCE] that is risked, expressed in decimal: e.g. 0.02, 0.03

[RISKAMOUNT] = [BALANCE]*[RISKLEVEL]

[COSTPERPIP] = cost of 1 pip movement per standard lot (there are different cost per pip for different base currency. If you have no idea what i am talking about please ask. Thanks)

[SLPIP] = Number of pips between the ENTRY price and the SL

[LOTS] = Amount to Trade = [RISKAMOUNT]/[COSTPERPIP]*[SLPIP]

Example:

[COSTPERPIP] for EURUSD = 10

[BALANCE] = $10000

[RISKLEVEL] = 0.05

[SLPIP] = 100 (pips)

Number of Lots traded = 10000*0.05/ 10*100 = 0.5 Lots traded

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**Time Frame(TF):**

This EA should only work on a H1 Timeframe. A warning or alert should be given when the Time frame is incorrect.

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**Others:**

**a) MagicNumber is needed (this EA must be able to run on different currency pairs and charts simultaneously without interfering with each other)

b) All untriggered/uncancelled orders expires at {[GMTOPEN]-1} GMT

c) No Trading from {[GMTOPEN]-1} to {[GMTOPEN]+1}GMT

d) Pending Orders are cancelled if another trade of the same currency pair is triggered by the same EA.

e) EA should work and continue to monitor open trades even when MT4 is restarted

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**In Summary:**

1) Take note of Opening price of currency pair at the latest [GMTOPEN] bar

2) Look out for formation of Inside Bars (IB)

3) If the upwards breakout of IB is above the [GMTOPEN] opening price, set a Long buy stop.

If the downards breakout of IB is below the [GMTOPEN] opening price, set a short sell stop. Otherwise, no need to set stop orders

4) It is possible to have both a buy AND sell stop for the conditions described in 3). Just remember to cancel the pending order when the other side of the trade is triggered. (see above point d)

5) When order is triggered, and the price move favorably to 1 x [IBR], close half of the lots.

6) Use trailing stop for the other half lots, as described above under "TRAILINGSTOP [TS]"

7) It is possible to have more than one open trades, with both Long and Short positions. ONLY cancel pending orders, let the triggered orders run their own course.

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****Input Fields Needed** (marked with **):

(i) Magic Number

(ii) [GMTOPEN] = OPENING Price of candle at xxxxGMT

(iii) [TSP] = Trailing Stop Percentage

(iv) [CLOSEALLPRICE] = Close ALL trades triggered by this EA when price is at this level (0=disabled)

(v) [RISKLEVEL] = percentage of [BALANCE] that is risked

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Specific expertise/background that I am seeking:

You should be proficient in MQL and have a good understanding of FOREX jargons and dealings (you should know what are TP, SL, TF, EQUITY, etc.)

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Timeframe for delivery:

Within 1 Week

Chrome OS Ingegneria Linux Mac OS MySQL PHP Gestione Progetti Architettura Software Testare Software UNIX Windows Desktop

Rif. progetto: #3093782

Info sul progetto

1 proposta Progetto a distanza Attivo Jan 17, 2010

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mqldeveloper

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$59.5 USD in 7 giorni
(45 valutazioni)
5.2