I am looking to extrapolate the MQL4 out of this .ex4, we are of course talking about an Expert Advisor (trading software) on Metatrader4. The strategy used by this EA is quite straightforward, i don't know if the best way to get the job done is to reverse engeneer or to decompile it, in any case it is essential that the MQL4 works in the exact same way as the .ex4
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There are a few other twicks and optional jobs i would need to get done after extrapolating the MQL4:
- Hourly time slot to start and stop trading - Volatility Filter: The EA performs best in low volatility environment so I was thinking to add either an ATR filter or a Bollinger Bands Filter (if you have something already coded that can do the job that’s totally fine).
-OPTIONAL: An emergency hedging system, once reaching a specified percentage of Drawdown the system begins to stop opening positions in the loosing directions and only “listening” to the signals in the opposite direction. Closing a trade in profit and a losing trade at the same time.
EX.: The system reached a 20% account drawdown with 10 trades open short. The emergency hedging system stops the martingale projection and stops any other sell signal. From now on the system will only listen to buy signals. The system closes 100$ profit in buy positions, closing at the same time 100$ of loosing sell positions (the first and further away loosing positions will be closed first). Once the system has recovered 50% of the drawdon (going from 20% to 10% in this example) the system will be able to listen again to both directions signals. This is the best way I could come up with to add an emergency state for a martingale to avoid the classic martingale dangers, still, if you have an alternative option already coded that would be great.
-Licensing system, as said in the title I would like to sell this EA and therefore protect it with a licensing system with expiration date and “demo account” only for free trials
- Minor estetic changes, I would like to replace the picture shown in the setting of the EA and make the chart view of the EA a little bit more appealing.
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