I am looking for a coder to make a simple EA

Hi, i have been manually testing out a entry technique to scale into positions witch enables me to limit my risk and maximize my potential profit.

So far it's been working good but the downside of it is that i have to monitor it for hours and sometimes price moves to fast for me to take action. A Ea would provide a solution for both problems but i can't code so i am searching someone who can.

Basically the EA has to open a position every time it goes from one (10pip) round number to the other one. The position will have a -10 pip SL and half will be sold when it has 10 pips of profit. The SL will be left at - 10 at all times. I want one EA that only opens long positions and one that only opens shorts.

I don't want the EA keep opening positions every 10 pips but only at a specified preset range. For example between 1.0000 and 1.0050 would mean that it can only open positions at : 1.0000 , 1.0010 , 1.0020 , 1.0030 , 1.0040 , 1.0050.

If you think you can code this for me then please contact me threw Pm or at this thread.

grtzz

Hi grtzz, (or is that Mr/Ms Duck),

I did PM you so please review.

As for the strategy, could you please be more specific.

Taking the long entires only:

1. You want to set a specific trading range - got it. Will this always be the same or do you want to alter it every day/session/or every trade?
2. Open a trade at every round number - got it. But what happens when price bounces around - How many trades do we open at the same round number, or only the first time price reaches it?
3. A trade is opened and moves 10 pips into profit - so close close half of that trade and open a new long position at the same time/price? When do you close the other half?
4. What happens to the SL? I guess this depends on what you do with the half open position. trailing?

Also you should consider that if price moves quickly, its likely that the spread will widen and slippage will factor in. Any trades placed during a fast run will not be executed at the round numbers but could be anywhere especially during news events.

How about putting on pending orders in a grid at the start of the seesion and then having the EA close them out - either as profit targets are hit or if they are stopped out?

What happens when we trend up for a while and retrace, only to trend up again - visiting previous round numbers that were acted on on the last up trend - do we enter again?

Probably more questions as you detail how this should work.

cheers, Fred

Hi Fred, i will try to answer your questions as clear as possible.


1
I want to alter the range from time to time when i think i need to. it can be after 1 day or 1 week or longer.
lets take a daily chart, i see a long term downtrend and i see that the market has broken a resistance (1.0100) 10 days ago.Price is now at 1.000 and will maybe retest the broken resistance before resuming it's downtrend. I will now turn on the EA for opening shorts and put the range @ 1.0050- 1.0100
price visits the range 1 week later, and bounces around in it so it costs me a few times 1 position -10 pips, but then the downtrend resumes and i have 2.5 open short positions that i will keep open for months if possible to ride the long term trend. I can now turn of the ea and set the range at another interesting place. I can also sell 0.5 position or more to cover the costs i made while price was bouncing around in the range.


2
I will keep opening positions every time in passes the round number, i want to be guaranteed that i have the position when price decides to go my way.


3
You are right, sell half of the position in profit and at the same time opening a new position. I will sell the other half manually months or even years later. I am aiming at long term growth and a very good risk reward ratio.


4
There happens nothing with the SL, i can leave it or just trail it manually after a few weeks,months,years......


5
If price moves quick then i hope that the stop orders will do their work properly and give me a good price. I know that the spread will widen, this is something that can upset the working of the EA and make sure that i will miss positions since i only have a 10 pip SL. If spread gets higher then 10 pips the orders will probably not execute. This is something i will have to accept and live with.


6
this way they will only execute once and there will be a lot being stopped out, eventually price will move my way without positions leaving me with losses.


7
If the EA is still active and price revisits the range then it will keep opening positions again at every round number. If i don't want that to happen then it's my job to turn of the ea in time.




I hope that i answered all your questions and that everything is clear, if you have more questions then please shoot

I've had a go on the buy EA.
Check it out and let me know your thoughts.

It draws in the grid of buy points but can be turned off if you dont want/need to see where your buy range is.

I struggled a bit with the rebuy at every occurance of the price as it can go out of control, and so added a filter which only rebuys at a previous price if another trade at a different price comes first.

Also we didnt discuss lot size so its currently fixed but you can adjust it when you load the EA.

With your take half off criteria, i went the other way and open two trades at the same price, but each at half lot size, both with the same stoploss but only one will close out at a TP of ten.

You also need to be aware that as i am using the Ask price to initiate a Buy, its possible that the previous order has not yet closed out its half before entering the next buy.

Look forward to your comments

Any chance of the mql4

I won't post the source in a public forum but you can decompile and study it by yourself using the public and free decompiler I hosted here:
http://www.rosasurfer.com/.mt4/decompiler/

ps: Decompiling and studying decompiled software is not illegal. Redistributing or selling decompiled software may be illegal in some jurisdictions.