MT4 Price Action EA Request

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MT4 Price Action EA Request

Postby tdjck908 » Sun Apr 25, 2021 6:54 pm

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
Attachments
short example with current red candle.png
short example with current red candle
short example with all green candles.png
short example with all green candles
long example with all red candles.png
long example with all red candles
long example with current green candle.png
long example with current green candle
Candle wick percent.mq4
CWP
(3.63 KiB) Downloaded 194 times
Candle wick percent.ex4
CWP ex4
(19.86 KiB) Downloaded 165 times
hanover --- function header (np).mqh
Include
(13.56 KiB) Downloaded 174 times
hanover --- extensible functions (np).mqh
Include2
(117.55 KiB) Downloaded 158 times
CCC.mq4
Candle Counter
(2.1 KiB) Downloaded 179 times
CCC.ex4
Candle counter ex4
(11.46 KiB) Downloaded 155 times
tdjck908
 
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Re: MT4 Price Action EA Request

Postby Apprentice » Mon Apr 26, 2021 2:18 am

Your request is added to the development list.
Development reference 410.
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Apprentice
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Posts: 36341
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Re: MT4 Price Action EA Request

Postby tdjck908 » Mon Apr 26, 2021 3:53 pm

Thank you so much!!

I'm so sorry if it's a hassle to ask now, however, I was wondering if there could also be an input to choose if the EA takes both styles of setups (current candle matching the leadup of consecutive candles vs current candle color opposite, however, the previous candle meets the consecutive count requirement).
For example, having the option to chose between either having the current candle to be red on long setups and the current candle to be green on short setups OR the current candle can be the opposite color if the wick ratio parameter is met and the previous bar meets the candle count ratio OR allowing both setups (input named same color candle requirement?)
If that is not possible, then I think it would be preferable to only have the EA take trades if the current candle is red for longs and green for shorts.
(Example picture titled all green and all red).

Thank you so much,

Tom
tdjck908
 
Posts: 10
Joined: Sun Apr 25, 2021 5:59 pm

Re: MT4 Price Action EA Request

Postby Apprentice » Mon May 03, 2021 10:55 am

tdjck908_Price_Action_EA.mq4
(185.91 KiB) Downloaded 272 times

Try this version.
User avatar
Apprentice
FXCodeBase: Confirmed User
 
Posts: 36341
Joined: Thu Dec 31, 2009 11:59 am
Location: Zagreb, Croatia

Re: MT4 Price Action EA Request

Postby tdjck908 » Mon May 10, 2021 12:05 pm

Wow, this is amazing! Thank you so much.
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Posts: 10
Joined: Sun Apr 25, 2021 5:59 pm


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