EA MT4 supertrend + EMA + OPR

1. Instrument & Timeframe

• Main timeframe: M5 (for entries & trade management)

• Indicators for filtering:

  • Supertrend on H1 (main market direction)

  • Moving Averages 20 & 50 on M5 (local trend filter)

2. Opening Range (OR)

• Period: from 15:30 to 15:45 Paris time (US market open).

• Calculation:

  • OR_high = highest price between 15:30–15:45

  • OR_low = lowest price between 15:30–15:45

  • OR_size = OR_high – OR_low

3. Entry Conditions

✅ Long (Buy Stop above OR_high) if:

1. MA20 > MA50 on M5

2. Supertrend H1 = bullish

3. Orders placed from 15:45 until max 17:30

4.  place a Buy Stop above OR_high
   

✅ Short (Sell Stop below OR_low) if:

1. MA20 < MA50 on M5

2. Supertrend H1 = bearish

3. Orders placed from 15:45 until max 17:30

4. Place Sell Stop below OR_low

⚠️ Important: You don’t wait for a candle to close outside the OR → pending order is placed immediately at 15:45 if conditions are met.

4. Risk Management

• Stop Loss (SL) = 50% of the OR size

• Take Profit (TP) = 3.5 × risk (3.5R)

• Break Even (BE) = move SL to entry point once price reaches +2R

• Risk % of account: position size calculated automatically based on chosen %

5. Forced Exit

• If trade still open → close at 21:00 Paris time

• If pending order not triggered → cancel at 17:30

✅ In summary:

• Define OR between 15:30–15:45.

• At 15:45, if Supertrend (H1) and MAs (M5) align, place a Buy Stop above OR_high or a Sell Stop below OR_low.

• SL = 50% OR, TP = 3.5R, BE at 2R.

• Risk based on % of account.

• No trades after 17:30, forced closure at 21:00.