Update Trading Logic for MotiveWave
Budget: $250 – $750 USD
I need an experienced programmer to update the existing algorithm written for the MotiveWave trading terminal.
Current Logic:
Every entry should be for 6 contracts (or 6 minimum entry lots, that could be adjusted). ( 1 contract based on the signal + 1 PROFIT order + 5 LIMIT orders placed above/below entry-level at the pre-set levels (Short Entry at the market at 100, STOP at 96, LIMIT at 102, 104, 106, 108 and 110)
If the PROFIT order is reached, EA cancels all LIMIT orders and enters the NEW order only after the NEW signal is generated. If LIMIT order is reached, the EA should ADD another LIMIT order (112 etc.), cancel 1 PROFIT order and place 2 (etc) NEW PROFIT orders set at a preset level above/below NEW average entry price for 2 orders. This is a very important part, in the fast-moving market. I need to always have 5 LIMIT orders and the correct number of orders set as a PROFIT. The EA should ignore all new signals until the open position is closed.
New Logic:
I need to new feature added to the algorithm, called "Profit Target Buffer" (in Ticks) to be placed below Profit Target in the Input section.
When the signal is generated, the EA should place Market/Limit order + Profit Order based on the setting in "Profit Target" and Stop Order if this feature is enabled.
If the Profit Target is not reached, the EA should wait until the Next Signal in the same direction as the open position is generated. At that point, there will be unrealized losses on the account. The EA should calculate how many new contracts need to be added at the Market to break even if the market moves the number of ticks set in the Profit Target.
Example: Short Position was entered at 100. Profit Target was set at 10 ticks and was set at 90. The profit was not reached. The market moved to 155 before the next SELL signal was generated. There are were 55 ticks of unrealized losses on 1 open position. In order to recover the 55 ticks loss when the market moves 10 ticks (original profit target 10 ticks) to 145, the EA needs to place 6 orders SELL at the market price of 155.
After placing 6 new orders to SELL at the second signal, the EA needs to cancel the original Profit order and place 7(6+1) NEW Profit orders to be placed at New Break Even (6x155+1x100)/7= 147 PLUS adjust it to the preset number of ticks to be defined in New Feature - "Profit Target Buffer". If, for example, the Profit Target Buffer was set at 6 ticks, the new Profit Target will be set at 147-6=141. At this point, there will be 1 SHORT position at 100 plus 6 SHORT positions at 155 and 7 Profit orders set at 141 (10 ticks original profit target and 6 ticks profit target buffer)
If the Profit target is not reached, the EA should repeat the process with the next SELL signal until a maximum number of open positions is reached ( set in the Input section of EA).
Place BIDs of this project ONLY if you have experience working with CDK of MotiveWave and have completed projects for this trading terminal.
Key Requirements:
- Modifying the entry conditions of the trading logic
- Incorporating technical indicators as entry signals
Skills and Experience:
- Proven experience in algorithmic trading
- Familiarity with MotiveWave
- Strong analytical and problem-solving skills
- Software Development Kit (SDK)
Current Logic:
Every entry should be for 6 contracts (or 6 minimum entry lots, that could be adjusted). ( 1 contract based on the signal + 1 PROFIT order + 5 LIMIT orders placed above/below entry-level at the pre-set levels (Short Entry at the market at 100, STOP at 96, LIMIT at 102, 104, 106, 108 and 110)
If the PROFIT order is reached, EA cancels all LIMIT orders and enters the NEW order only after the NEW signal is generated. If LIMIT order is reached, the EA should ADD another LIMIT order (112 etc.), cancel 1 PROFIT order and place 2 (etc) NEW PROFIT orders set at a preset level above/below NEW average entry price for 2 orders. This is a very important part, in the fast-moving market. I need to always have 5 LIMIT orders and the correct number of orders set as a PROFIT. The EA should ignore all new signals until the open position is closed.
New Logic:
I need to new feature added to the algorithm, called "Profit Target Buffer" (in Ticks) to be placed below Profit Target in the Input section.
When the signal is generated, the EA should place Market/Limit order + Profit Order based on the setting in "Profit Target" and Stop Order if this feature is enabled.
If the Profit Target is not reached, the EA should wait until the Next Signal in the same direction as the open position is generated. At that point, there will be unrealized losses on the account. The EA should calculate how many new contracts need to be added at the Market to break even if the market moves the number of ticks set in the Profit Target.
Example: Short Position was entered at 100. Profit Target was set at 10 ticks and was set at 90. The profit was not reached. The market moved to 155 before the next SELL signal was generated. There are were 55 ticks of unrealized losses on 1 open position. In order to recover the 55 ticks loss when the market moves 10 ticks (original profit target 10 ticks) to 145, the EA needs to place 6 orders SELL at the market price of 155.
After placing 6 new orders to SELL at the second signal, the EA needs to cancel the original Profit order and place 7(6+1) NEW Profit orders to be placed at New Break Even (6x155+1x100)/7= 147 PLUS adjust it to the preset number of ticks to be defined in New Feature - "Profit Target Buffer". If, for example, the Profit Target Buffer was set at 6 ticks, the new Profit Target will be set at 147-6=141. At this point, there will be 1 SHORT position at 100 plus 6 SHORT positions at 155 and 7 Profit orders set at 141 (10 ticks original profit target and 6 ticks profit target buffer)
If the Profit target is not reached, the EA should repeat the process with the next SELL signal until a maximum number of open positions is reached ( set in the Input section of EA).
Place BIDs of this project ONLY if you have experience working with CDK of MotiveWave and have completed projects for this trading terminal.
Key Requirements:
- Modifying the entry conditions of the trading logic
- Incorporating technical indicators as entry signals
Skills and Experience:
- Proven experience in algorithmic trading
- Familiarity with MotiveWave
- Strong analytical and problem-solving skills
- Software Development Kit (SDK)