Hello,
Could you please develop an MT4 EA from the following two indicators attached?
It would be great to have inputs of Consecutive Candle Count (1-10) and Candle Wick Percentage (10-100%), SL Distance Multiplier (1, 1.25, 1.5), Active Trading hours in broker time (16:35-20:00), Risk per Trade (0.25%, 0.5%, 1%, 2%) and Risk-Reward ratio (2:1, 1.5:1, 1:1).
The rules are as follows:
Long:
1) Minimum 4 consecutive candles closing down including the current candle. If the current candle closes up, there must be a minimum of 4 consecutive candles closing down on the previous candle. I have attached an example image.
2) The signal bar must have a bottom wick greater than 50% of the total candle body with no top wick.
3) Entry long will be a market order at the open of the bar after the signal bar
4) SL set to the distance between the Open and lower wick of the signal bar * a SL distance multiplier of 1. (t0 Open-t1 Low)*1
5) TP set to 2:1 risk-reward.
6) Position size will be 0.5% of the equity balance using the SL calculated in Step 4.
Short:
1) Minimum 4 consecutive candles closing up including the current candle. If the current candle closes down, there must be a minimum of 4 consecutive candles closing up on the previous candle. I have attached an example image.
2) The signal bar must have a top wick greater than 50% of the total candle body with no bottom wick
3) Entry short will be a market order at the open of the bar after the signal bar
4) SL set to the distance between the upper wick of the signal bar and the Open * a SL distance multiplier of 1. (t1 High-t0 Open)*1
5) TP set to 2:1 risk-reward.
6) Position size will be 0.5% of the equity balance using the SL calculated in Step 3.
EA must only run during the active trading hours (adjustable) but set to 16:35 as the start and 20:00 as the end in broker time.
Thank you so much for your consideration!
Please let me know if you have any questions or if the request is too complex.
Thank you,
Tom