Stop Entry EA Proposal - A

Summary Description: The EA will include code that will manage trades on the MT4 trading terminal. When the time on the MT4 Terminal clock is between the time values entered in the user input fields (Start_Time) and Close_Time, the EA will activate the order creation process. The EA will sequentially create buy and sell pending order pairs based on data from the following EA user input fields: Start_Time, Entry_Pts, Conv_Factor and Order_Lot (1-15). The first order pair (1 buy and 1 sell) will be created by the EA only if these three conditions exist: 1) when the time on the MT4 Terminal clock is between the time values entered in the user input fields (Start_Time) and Close_Time AND 2) when the current price of the currency is between the buy entry price and the sell entry price (see Exhibit # 1 entry prices) AND 3) no pending or open orders exist. When creating all order pairs, the EA will create 1 buy and 1 sell pending order. The entry price of both orders will be based on the Start_Time open hourly price +/- the number of points (pips) in the user input field Entry_Pts (see exhibit 1). Once the price has moved (up or down) the required number of entry pips or entry points, one of the pending orders will automatically open and the EA will delete the order that remains pending. The EA will create all pending orders with a Stop Loss value equal to the number of pips (points) in the Entry_Pts user input field. The stop price of both orders will be based on the calculated entry price +/- the number of points (pips) in the user input field Entry_Pts (see exhibit 1). The EA may create up to a maximum of 15 pairs of pending orders (15 buy and 15 sell) for a single trading day for a single currency. Only one order pair may exit at one time. Order pair number 2 will be created by the EA only when the open order from order pair number 1 has stopped out and so on through order pair number 15. Each order pair issued will be sequentially created based on lot values in user input fields: Order_Lot1 – Order_Lot15. For example, order pair number 1 will be created with a lot (volume) value equal to the lot value in the user input field Order_Lot1. And order pair number 2 will be created with a lot value equal to the lot value in the user input field Order_Lot2 and so on until order pair number 15 is created. The EA will include code that will automatically close all open orders and delete all pending orders when the time on the MT4 Terminal clock is between the time value that is entered in the user input field Close_Time and 23:59:00. The EA will also deactivate (turn off) if it attempts to create an order pair and the value entered in the related Order_Lot input field equals: 00.00. It is intended the EA will run on one currency on the hourly chart per account.