Need a money management EA for Metatrader 4 to work with 5 digit broker. Trades will be entered manually with entry price and stop loss specified no take profit will be specified. EA is to manage trade and exit when exit criteria are met.
Initial stop loss can be moved in 2 stages and distance moved will depend on user settings. User specifies
Stop Loss Move 1 = (0 - 1)
Stop Loss Move 2 = (0 - 1.5)
Stop Loss Move 1 value must be equal to or less than stop loss move 2.
For value set to 0 function is effectively turned off.
For value set to 1 value is equal to distance between entry point and initial order stop loss.
Assuming Long (Up order) EA exit position is moved to Stop Loss 1 when a candle closes above the entry position plus the value of Stop Loss Move 1. That is
Entry Price + (Entry Price - Initial Stop Loss)*Stop Loss Move 1
EA exit position is moved to Stop Loss 2 when a candle closes above the entry position plus the value of Stop Loss Move 2. That is
Entry Price + (Entry Price - Initial Stop Loss)*Stop Loss Move 2
Once stop loss has moved to position 2 EA exit position will continue to move up following Moving Average of current candle.
User to be able to specify
Period, Shift, Method (Simple or Exponential) for moving average to be used. Apply to will be Close.
EA will start tracking MA level once MA passes the Stop Loss Move 2 level.
EA exit position can never retrace so if MA dips before position is exited exit position to remain at the high until either price closes position or MA makes a new high, assuming long trade.
Note all of above was for long trade would be reversed for a short (down) trade.
EA must be capable of working on multilple currencies simultaneously but will only need to manage one trade at a time on a given currency.
EA exit position is to remain internal to EA no updates to order stop loss should be made position should just be exited in full when price meets EA exit position.
EA to be capable of emailing alerts for
Move to Stop Loss 1, Move to Stop Loss 2, Close of Trade.
Email to include Date, time, currency pair, price and email type
eg; 23/01/11 01:00 EURUSD Position Moved to Stop Loss 1 at 1.3325
23/01/11 10:00 EURUSD Position Moved to Stop Loss 2 at 1.3340
23/01/11 20:00 EURUSD Position Closed at 1.3360
Note date format for email text to be dd/mm/yy and 24 hour time
If you need any further information to bid please let me know.
I am expert programmer and has
developed a Savings and credit management software which was reviewed by CGAP in 2006. I would do this as an application in about 14 days.