This is a simple expert advisor using Parabolic Indicator
1. Buy Trade
Open a Buy Trade when the parabolic dot appears below the candlestick.
2. Sell Trade
Open a Sell Trade when the parabolic dot appears above the candlestick.
Confirmation of a Buy / Sell Trade
When a buy signal is given by parabolic open a buy trade at the opening of the second bar only if the first bar is a bullish candle.
When a sell signal is given by parabolic open a sell trade at the opening of the second bar only if the first bar is a bearish candle.
Just in case the confirmation bar is not formed (i.e. first candle is not bullish / bearish) that respective parabolic trend is supposed to be ignored.
Exit/Closing of Trades
Close/Exit a trade under the following circumstances:-
1. Close a buy trade when parabolic gives a sell signal. (First Dot)
2. Close a sell trade when parabolic gives a buy signal. (First Dot)
3. Close when stop loss / target / trailing stop loss are hit.
Stop Loss of Trades
If the trade is confirmed the stop loss value should be equal of parabolic value.
Trailing Stop Loss of Trades
It should follow parabolic trailing stop loss, i.e. the stop loss should keep on changing as the value of parabolic dot changes.
Target of Trades
The target should be ‘x’ time the stop loss value.
Other Features of the Expert Advisor
1. Money Management System.
2. User defined take profit / stop loss and trailing stop loss.
3. Reverse Trade Option.
My budget for this project is $30 - $ 70 and the mile stone will be released 5 days after the completion of the project.
I am attaching a snap shot indicating where the trades to be opened are or not.
For any further clarifications feel free to contact me.
User defined Lot Size
and for money management one can visit
The confirmation rule for buy and sell orders should be an option. i.e. the user should have an option.
Multiple Trade Option
The expert advisor should open two trades, when a buy/sell signal is generated.
One trade should have a target which is defined by the user i.e. ‘x’ times the stop loss.
When the target is hit, one trade should be closed and the other trade’s stop loss should shift to entry point + ‘x’ pips (‘x’ defined by the user)
In this option money management should be used.
I am adding the Parabolic SAR Indicator, on which the indicator will be based.
Also the confirmation criteria should be an option.
If the option is false, then the trade should open as soon as the buy/sell signal appears.
The above Parabolic SAR Indicator gives an automatic alert, so the expert advisor should open a trade when the indicator gives an alert if the Confirmation Option is false.