adminDear Developer,
We are looking to develop an Expert Advisor (EA) for both MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms. The EA will execute trades based on spread between specified instruments profit/loss and after opening the trades, we need comprehensive trade control. EA will pick the price of given instruments from our given time and date and will assume trades are open from that time and date and will calculate the profit or loss of each instrument in USD ( Or Currency ) and will initiate the trades when spread between these different instrument, s equity will reach at specific level.
Key Features:
1. Spread Table Visualization: The EA will display a spread table on the chart, comprising 6 lines for different instruments or assets. Each line will consist of 10 boxes for essential details such as symbol, virtual lot size, direction, price, equity, and lot size for trade entry. Please refer to the attached sample picture for visualization.
2. Trade Initiation Based on Spread: Trades will be automatically initiated when the spread between designated instruments reaches a specified value.EA will check The pair when spread will reach at our given level. EA will keep the maximum loss side pair direction in same as we set in the table while will change the direction of lower loss or profit side instrument for trade initiate. The EA will calculate and monitor spread differentials as per user-defined parameters.
3. Equity-Based Trade Direction: Upon trade initiation, the EA will analyze the equity of involved instruments and determine the optimal trade direction. It will maintain the instrument with lower equity in the current direction and potentially reverse the direction of the other instrument for optimal risk management.
4. Control Panel Features: The EA will include a comprehensive control panel with the following functionalities:
• Display of starting date and time, with options for auto-update and with given distance.
• Presentation of today’s starting balance and equity.
• Setting of equity and balance cutoff values for closing trades.
• Configuration of email alerts for trade notifications.
• Customizable trade headings for easy identification in email.
• Trailing with 3 extra step. At first level, only jump to break even, Second jump to given profit target, from third trailing till exit with given distance.
• Background settings for configuring spread parameters, trade initiation levels, and trade control options.
5. Special Considerations and Requirements:
• Ensure persistent settings across MT4/MT5 restarts, changes in date/time, timeframe, or instrument.
• Address issues related to price freezing, requote, and excessive trading activity, with appropriate error handling mechanisms.
• Configure email alerts to trigger only for executed trades, minimizing unnecessary notifications.
• Implement safeguards against account closure due to hyperactivity, including the ability to deactivate the EA under certain conditions.
• Ensure compliance with market trading hours and margin requirements, preventing trades during closed markets or insufficient margin situations.
• Provide unique identification for trades initiated by the EA for precise management actions such as closure, reversal, or trailing.
Next Steps: Please review the attached detailed proposal for a comprehensive understanding of the project requirements. We value your expertise and look forward to collaborating with you to bring this EA to life. If you have any questions or need further clarification on any aspect of the project, please don’t hesitate to reach out.
We are looking to develop an Expert Advisor (EA) for both MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms. The EA will execute trades based on spread between specified instruments profit/loss and after opening the trades, we need comprehensive trade control. EA will pick the price of given instruments from our given time and date and will assume trades are open from that time and date and will calculate the profit or loss of each instrument in USD ( Or Currency ) and will initiate the trades when spread between these different instrument, s equity will reach at specific level.
Key Features:
1. Spread Table Visualization: The EA will display a spread table on the chart, comprising 6 lines for different instruments or assets. Each line will consist of 10 boxes for essential details such as symbol, virtual lot size, direction, price, equity, and lot size for trade entry. Please refer to the attached sample picture for visualization.
2. Trade Initiation Based on Spread: Trades will be automatically initiated when the spread between designated instruments reaches a specified value.EA will check The pair when spread will reach at our given level. EA will keep the maximum loss side pair direction in same as we set in the table while will change the direction of lower loss or profit side instrument for trade initiate. The EA will calculate and monitor spread differentials as per user-defined parameters.
3. Equity-Based Trade Direction: Upon trade initiation, the EA will analyze the equity of involved instruments and determine the optimal trade direction. It will maintain the instrument with lower equity in the current direction and potentially reverse the direction of the other instrument for optimal risk management.
4. Control Panel Features: The EA will include a comprehensive control panel with the following functionalities:
• Display of starting date and time, with options for auto-update and with given distance.
• Presentation of today’s starting balance and equity.
• Setting of equity and balance cutoff values for closing trades.
• Configuration of email alerts for trade notifications.
• Customizable trade headings for easy identification in email.
• Trailing with 3 extra step. At first level, only jump to break even, Second jump to given profit target, from third trailing till exit with given distance.
• Background settings for configuring spread parameters, trade initiation levels, and trade control options.
5. Special Considerations and Requirements:
• Ensure persistent settings across MT4/MT5 restarts, changes in date/time, timeframe, or instrument.
• Address issues related to price freezing, requote, and excessive trading activity, with appropriate error handling mechanisms.
• Configure email alerts to trigger only for executed trades, minimizing unnecessary notifications.
• Implement safeguards against account closure due to hyperactivity, including the ability to deactivate the EA under certain conditions.
• Ensure compliance with market trading hours and margin requirements, preventing trades during closed markets or insufficient margin situations.
• Provide unique identification for trades initiated by the EA for precise management actions such as closure, reversal, or trailing.
Next Steps: Please review the attached detailed proposal for a comprehensive understanding of the project requirements. We value your expertise and look forward to collaborating with you to bring this EA to life. If you have any questions or need further clarification on any aspect of the project, please don’t hesitate to reach out.
Posted On: February 18, 2024 11:13 UTC
Category: Desktop Software Development
Skills:MetaTrader 4, MQL 5, MQL 4, Forex Trading
Country: United States
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