I need a MT4 indicator created which uses two EMA's, ADX, ATR and simple price action.
It is run on D1 charts and sends an email alert when certain conditions are met: however the final condition - price retracement - will happen intraday.
Here is a brief description:
We use two EMA's and at the start of a new bar we look at the closed price of the last bar. It must have closed either (a) above the highest MA or (b) below the lowest MA. If it closes between the MA's we abort.
Next, price must have touched the closest MA during that bar: if not, we abort.
Next, both MA's must have closed in the same direction as the bar, and they must have moved by a certain % of price. So if the bar closed up, both MA's must have closed up by, for example, 0.01%; if the bar closed down both MA's must have closed down 0.01%. If not, we abort.
ADX must be above a certain level, if not then abort.
If all these conditions have been met then an alert on the bar just closed, we now wait until current price - intraday - retraces by xx% of price. When it does, an email alert is sent. If it doesn't retrace during the bar then we do nothing and start all over again at the beginning of the next bar.
This is the indicator - I have not given the EMA, ADX, etc., values but will do to whoever does the job.
One other thing: the last indicator I had done, had a backtest feature so that it printed up and down arrows on the chart for the previous xx number of bars, where the above rules would have generated a trade. (See attached image as an example). So I need this feature for this indicator also. I am happy to share the existing indicator if you want to see how it was done.
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9 freelance font une offre moyenne de $124 pour ce travail
Hi, I am interested in the project. I myself trade on the MT4 platform and code EA for myself as well as clients. check my website [url removed, login to view]