EA based on Candlestick Closure

1. General Concept

The Expert Advisor (EA) should open trades at the close of a candlestick, based on:

• The market bias (user-defined: Buy or Sell only).

• The timeframe selected by the trader.

The EA should include a dashboard panel on the chart that allows the trader to interact with and control the EA’s behavior.

2. Dashboard / User Interface

The on-chart dashboard should include:

1. Market Bias Selection – Buy Only / Sell Only.

2. Global TP and SL – in pips or price levels.

3. Number of Positions per Signal – how many trades to open per valid signal.

4. Floating PnL Display – real-time sum of EA trades.

5. Close All Trades Button – closes all EA trades instantly.

3. Trading Logic

• Check conditions at candle close.

• If bias = Buy → open defined number of Buy trades.

• If bias = Sell → open defined number of Sell trades.

• Each trade uses Global TP/SL (unless overridden by risk-control options).

• No opposite trades allowed.

4. Inputs / Parameters

• Lot size (fixed).

• Global Take Profit (pips/price).

• Global Stop Loss (pips/price).

• Number of positions per signal (integer).

• Magic Number (to identify EA trades).

• Maximum number of trades allowed (optional risk limit).

5. Trade Management

• Each trade uses the configured TP/SL.

• “Close All” button closes all EA trades (Magic Number filter).

• Floating PnL displayed on dashboard in real-time.

6. Additional Risk-Control Options (Optional Enhancements)

The EA can include the following advanced trade management options for handling multiple positions:

1. Staggered Take Profit (Partial Exit)

   • Allow the trader to set different TP levels for multiple trades opened in the same signal.

   • Example: If 3 Buy trades are opened, TP1 = 20 pips, TP2 = 40 pips, TP3 = 60 pips.

   • Helps secure profits gradually while leaving positions to run.

2. Break-Even Function

   • After X pips in profit (user-defined), automatically move SL to entry price (or entry + buffer).

   • Applies to all open positions or individually.

3. Trailing Stop

   • Option to enable a trailing stop (user can define step and distance).

   • This replaces fixed SL once activated.

4. Equity-Based Exit

   • A global condition to close all trades if account profit/loss reaches a certain threshold.

   • Example: Close all when floating profit ≥ $100, or when floating loss ≥ $50.

5. Max Drawdown Protection

   • Prevent new trades from being opened if floating loss exceeds a user-defined percentage of account balance/equity.

7. Additional Notes

• Dashboard updates dynamically.

• No automatic bias detection — trader sets Buy/Sell manually.

• EA must work on both MQL4 and MQL5 (or be specified for one platform).