Spezifikation
Here's a detailed description of a Breakout & Retest Supply and Demand strategy-based Expert Advisor (EA):
Strategy Overview
The EA will implement a Breakout & Retest strategy based on Supply and Demand zones. It will identify potential supply and demand areas, wait for a breakout, and then retest the zone before entering a trade.
Key Features
1. *Supply and Demand Zone Identification*: The EA will use historical price data to identify supply and demand zones based on specific criteria, such as:
- Swing highs and lows
- Consolidation areas
- Imbalance zones
2. *Breakout Detection*: The EA will monitor price action and detect breakouts above or below the identified supply and demand zones.
3. *Retest Confirmation*: After a breakout, the EA will wait for a retest of the broken zone to confirm the trade.
4. *Trade Entry*: The EA will enter a long or short position based on the direction of the breakout and retest.
5. *Risk Management*: The EA will implement risk management techniques, such as:
- Stop-loss placement
- Take-profit targets
- Position sizing
Requirements
1. *Programming Language*: The EA will be developed in MQL5 (MetaQuotes Language 5) for use on the MetaTrader 5 platform.
2. *Indicators*: The EA may utilize built-in indicators, such as:
- Moving Averages
- Stochastic Oscillator
- Bollinger Bands
3. *Data Feeds*: The EA will require a reliable data feed to access historical and real-time price data.
4. *Trading Platform*: The EA will be designed for use on the MetaTrader 5 platform.
Technical Specifications
1. *Zone Identification Algorithm*: The EA will use a custom algorithm to identify supply and demand zones based on historical price data.
2. *Breakout Detection Logic*: The EA will use a specific set of rules to detect breakouts, such as:
- Price movement above or below a certain threshold
- Volume confirmation
3. *Retest Confirmation Logic*: The EA will use a specific set of rules to confirm the retest, such as:
- Price movement back to the broken zone
- Specific candlestick patterns
4. *Trade Management*: The EA will manage trades based on predefined rules, such as:
- Stop-loss and take-profit levels
- Position sizing based on risk management parameters
Parameters and Settings
The EA will have adjustable parameters and settings, including:
1. *Zone Identification Parameters*: Adjustable parameters for identifying supply and demand zones, such as:
- Lookback period
- Zone width
2. *Breakout Detection Parameters*: Adjustable parameters for detecting breakouts, such as:
- Breakout threshold
- Volume confirmation
3. *Retest Confirmation Parameters*: Adjustable parameters for confirming retests, such as:
- Retest threshold
- Candlestick pattern confirmation
4. *Risk Management Parameters*: Adjustable parameters for managing risk, such as:
- Stop-loss level
- Take-profit level
- Position size
Development Requirements
To develop this EA, the developer should have:
1. *MQL5 programming skills*: Proficiency in MQL5 programming language and MetaTrader 5 platform.
2. *Trading knowledge*: Understanding of supply and demand trading strategies and breakout/re-test concepts.
3. *Algorithmic trading experience*: Experience with developing and testing algorithmic trading systems.
Strategy Overview
The EA will implement a Breakout & Retest strategy based on Supply and Demand zones. It will identify potential supply and demand areas, wait for a breakout, and then retest the zone before entering a trade.
Key Features
1. *Supply and Demand Zone Identification*: The EA will use historical price data to identify supply and demand zones based on specific criteria, such as:
- Swing highs and lows
- Consolidation areas
- Imbalance zones
2. *Breakout Detection*: The EA will monitor price action and detect breakouts above or below the identified supply and demand zones.
3. *Retest Confirmation*: After a breakout, the EA will wait for a retest of the broken zone to confirm the trade.
4. *Trade Entry*: The EA will enter a long or short position based on the direction of the breakout and retest.
5. *Risk Management*: The EA will implement risk management techniques, such as:
- Stop-loss placement
- Take-profit targets
- Position sizing
Requirements
1. *Programming Language*: The EA will be developed in MQL5 (MetaQuotes Language 5) for use on the MetaTrader 5 platform.
2. *Indicators*: The EA may utilize built-in indicators, such as:
- Moving Averages
- Stochastic Oscillator
- Bollinger Bands
3. *Data Feeds*: The EA will require a reliable data feed to access historical and real-time price data.
4. *Trading Platform*: The EA will be designed for use on the MetaTrader 5 platform.
Technical Specifications
1. *Zone Identification Algorithm*: The EA will use a custom algorithm to identify supply and demand zones based on historical price data.
2. *Breakout Detection Logic*: The EA will use a specific set of rules to detect breakouts, such as:
- Price movement above or below a certain threshold
- Volume confirmation
3. *Retest Confirmation Logic*: The EA will use a specific set of rules to confirm the retest, such as:
- Price movement back to the broken zone
- Specific candlestick patterns
4. *Trade Management*: The EA will manage trades based on predefined rules, such as:
- Stop-loss and take-profit levels
- Position sizing based on risk management parameters
Parameters and Settings
The EA will have adjustable parameters and settings, including:
1. *Zone Identification Parameters*: Adjustable parameters for identifying supply and demand zones, such as:
- Lookback period
- Zone width
2. *Breakout Detection Parameters*: Adjustable parameters for detecting breakouts, such as:
- Breakout threshold
- Volume confirmation
3. *Retest Confirmation Parameters*: Adjustable parameters for confirming retests, such as:
- Retest threshold
- Candlestick pattern confirmation
4. *Risk Management Parameters*: Adjustable parameters for managing risk, such as:
- Stop-loss level
- Take-profit level
- Position size
Development Requirements
To develop this EA, the developer should have:
1. *MQL5 programming skills*: Proficiency in MQL5 programming language and MetaTrader 5 platform.
2. *Trading knowledge*: Understanding of supply and demand trading strategies and breakout/re-test concepts.
3. *Algorithmic trading experience*: Experience with developing and testing algorithmic trading systems.
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