Help with EA

I'm looking for someone to help me out here. I have an idea for an ea, and want to know if someone could put it together for me. If you charge, just let me know the price.

EA variables: set trades to only open buys or sells. i want to be able to trade continuously after a trade has been closed with tp or sl. be able to adjust sl and tp in pips, and have it calculate the size of lots by the % i am willing to lose or gain in my account. lastly, be able to adjust the time of day that trades will start and stop for the day. i use mt4 mini account

thanks,

robin

hi rsgoodm. Please dont ask to buy an ea on here, u can land somone in trouble, i.e. get banned.
As per rules of forex factory you are not aloud to sell services or make money through forex factory, otherwise u get immediate temperary banning.
Anyway what are the rules regarding a trade being opened, i might just do it for u for nothing or somone else might.

thanks for the tip and any help. the rules are: open a buy/sell when the sl or tp is hit, open again with the same parameters but with new calculated lot sizes. nothing too fancy, but i would like to be able to run it from london open to about 12:00 et when volatility is usually at its highest.

EA Inputs: buy or sell
stop loss (pips)
take profit (pips)
% of account risked per trade
continue trading
time to initiate trading
time to stop trading (leave open orders)


thanks,

robin

Forgive me if I am missing something. It is normal to have a reason to Buy or Sell. You just say ...Buy or Sell.

Which, when and why?

Duncan

it is up to you whether to buy or sell, but once the trade has been initiated, it will only keep buying or selling. the biggest reason is to trade with the trend. Also, there should be a trade going at all times within the timeframe allowed. For example: from 01:00am cst to 12:00pm cst.

robin

So, if you get stopped out, you reverse the trade? And if you hit TP you re-enter in the same direction?

Duncan

Ok so, basically u want to first initiate a trade. Then let the ea take over.
With regards to changing the sl and tp urself, you can do this once the ea makes the trade anyway it will show in ur open trade list and u can edit it.
So really it is more of an assistant. Just wondered though what happens if the market doesnt really trend very well, i.e. consolidating?
As for the lot size change how do you want that to change? Do u want it to double up or somthing? I wudnt recommend this btw.
It shudnt be too difficult to make, when iv finished my indicator ill give it a go unless ur planning on doing it Duncan?

If it gets stopped out or hits the tp, it will still open a position in the same direction. If it my buy gets stopped out, it opens another buy with a smaller lot position. If my buy hits tp, it opens another buy with a bigger lot posiiton. However, i need it to adjust the lots accordingly. I was thinking of a percentage: If i put in 10%, then my max loss would be 10% of my account. I would like to be able to adjust this number though. The idea is to find a strong trending pair, and stay in that direction during London and US sessions everyday. If the pair stalls and consolidates, well I know what happens then.

thank you,

robin

It would be a big help if the sl and tp could be preset, that way I don't have to be glued to my computer if there are multiple trades that night.

thanks

come back in two years and ask for an EA that is based on a well thought out strategy.

one like triangular arbitrage? please move on.

Kurka it sounds thought out to me. rsgoodm is managing his risk, we just dont know exactly how he intends to implement it.
Anyway ill give it a go for u rs.

absolutely no entry requirements using indicators? and alway open the same position type regardless of previous order hit TP or SL? This is perhaps the simplest EA ever... I'll do it for free this time.

what I need from you is your broker and symbol format for the sake of Money Management. As well as the minimum lot size allowed (micro? 0.01 mini? 0.1)

e.g. IBFX Standard - EURUSD (minimum lot micro 0.01)
IBFX Mini - EURUSDm (minimum lot micro 0.01)
Alpari - EURUSD (minimum lot mini 0.1)
ODL Mini - eurusdm (minimum lot mini 0.1)

and also some default values like

Stoploss = 20 pips
TakeProfit = 40 pips
Percentage Risk = 1.5%

With these, I'll be able to crank up an EA for you in minutes

regards,
Zen

Here's the EA which I've yet to test. The Money Management is optimized for IBFX and IBFX mini.

The Money Management feature has 2 modes. The first mode is most often used. Basically you define a percentage of your account balance you’re willing to risk on any single trade. The EA will use this percentage as well as your defined stop loss to calculate the optimal lot size for the trade to be opened. That way if the trade goes sour, you will at the very most lose that percentage you defined. If your system is successful, your account balance will grow and along with it the EA can open larger positions, constantly working with the percentage risk YOU defined. Unfortunately, This feature only works for pairs with JPY, CHF, CAD, GBP, NZD, AUD and USD as quote currency (apologies to exotic pairs traders)
The second mode is a lot different. If you set stop loss to 0, the EA having no stop loss to base calculation on, will use the percentage of your account balance to directly calculate the lot size along with the leverage your account has. Meaning, it’s more of saying, with this much money, how big an order can I place? Take note that this does not keep you from harms way as you are still trading with no stop loss. Some people like it, most people don’t. I leave it up to you.

some of the key inputs are as follows

iOpenHour (default: 1)
HoursToTrade (default: 24)

These 2 inputs controls the Time Control feature. The iOpenHour determines the time you want the EA to open trades. The HoursToTrade determines how many hours you want it work. Note that if you set HoursToTrade to 24, it means, no Time control is needed. That means Time Control is switched off by default.

Slippage (default: 3)
Self explanatory.

UserDefinedSpread (default: 0)
As spread is used in the calculation of stoploss levels, this is viewed as an important value by majority of traders. If you set this to 0, the EA will automatically use the market spread. Some people prefer to set a fixed spread because they’re too paranoid of spread widening. Although I think its redundant, I’ll give it to you nonetheless.

TakeProfit (default: 20)
StopLoss (default: 20)
The above allows you to set how many pips from your opening you want stop loss and take profit levels to be. These values exclude spread. If you set StopLoss to 0, no stoploss level will be placed for the trades. Same goes for TakeProfit.

MoneyManagement (default: true)
RiskPercent (default: 1.5)
These are the values for money management feature. If you set it to false, fix lots will be used as defined in “Lots” and not calculation will be done to the lot size.

Lots (default: 1.0)
Fixed lot size. Only applicable if MoneyManagement is set to false.

LotsDecimalAllowed (default: 2)
This is for the sake of letting MM to be as precise as possible. when the lot size is calculated, its often a long line of numbers like 0.3517296, this kinda values won't get accepted by the broker's server. it has to be normalized. if I set this number to 2, it'll round it to 2 decimal places (0.35). if I set this value to 1, it will round it to 1 decimal place (0.4). It all depends on whether your broker allows minimum of mini lot or micro lot size. 1 for mini, 2 for micro.

MaxLots (default: 15.0)
MinLots (default: 0.01)
These are just additional constraints you can give the EA. In case your risk appetite doesn’t match your pockets… =)

The EA also comes with a built-in logging function. whenever a trade is executed, it will write into a file named rsgoodm-[symbol]-[today's date]. the file is created and stored in your Metatrader/expert/files folder for future reference.

If you need me to tweak this EA to work with other brokers, let me know.

regards,
Zen

awesome, nice one zen, save me some time. My indicator is provin a biatch.

no problem. need any help with your indicator?

regards,
Zen

Thanks for the kind offer. I shud be alright tho.

I am using IBFX mini. The default setting you listed are fine for me, I will give it a go.

thanks for your time,

robin

The ea is working pretty good. Can you take a look at the % of account risk? It is not calculating the lots right according to my stop loss. Just to test it, I had it on 50% of account risk, but it wasn't accurate.

thanks,

robin