Fast Scalping EA for Multiple Pairs and Gold

​1. Project Overview

• ​Asset: XAUUSD (Gold)
• ​Timeframe: M1 (1-Minute) for execution; M5/M15 for trend filtering.
• ​Objective: Execute high-frequency scalps during peak liquidity (London/NY overlap) to capture 10–30 pip movements with high precision.
• ​Core Logic: The "Poverty Bot" strategy relies on Mean Reversion combined with Momentum Burst (Price Action + RSI/EMA filters).

​2. Strategy Logic (The "Poverty" Methodology)

​The strategy assumes that price will eventually return to its "fair value" (EMA) but uses momentum to enter only when a breakout is confirmed.

​A. Entry Conditions (Buy)

1. ​Trend Filter: Price must be above the 200 EMA (H1 or M15) to ensure we aren't trading against the macro trend.
2. ​The Trigger: Price must close below the Lower Bollinger Band (20, 2) on the M1 chart.
3. ​Momentum Confirmation: RSI (7) must be below 30 (oversold) and then cross back above 30.
4. ​Execution: Open Buy as soon as a bullish engulfing candle or a "pin bar" forms after the RSI crossover.

​B. Entry Conditions (Sell)

1. ​Trend Filter: Price must be below the 200 EMA.
2. ​The Trigger: Price must close above the Upper Bollinger Band (20, 2).
3. ​Momentum Confirmation: RSI (7) must be above 70 (overbought) and then cross back below 70.
4. ​Execution: Open Sell as soon as a bearish candle pattern forms.

​3. Trade Management & Risk (Crucial)

​"Poverty" bots are often aggressive. To prevent a "blow-up," the following hard-coded constraints are required:   4. Functional Requirements (Inputs)

​The developer must provide an "Inputs" tab with the following adjustable variables:

​General Settings

• ​MagicNumber: Unique ID for the EA.
• ​TradeComment: Custom label for the trades.
• ​MaxSlippage: (Default 3) Maximum allowed slippage.

​Risk Management

• ​LotSize_Mode: (Fixed / % of Balance).
• ​Risk_Percent: (e.g., 1% per trade).
• ​Max_Daily_Loss: (e.g., 500 USD or 5%).
• ​Trading_Hours: Start/End time (e.g., 08:00 to 17:00 GMT).

​Indicator Parameters

• ​EMA_Trend_Period: (Default 200).
• ​BB_Period: (Default 20).
• ​BB_Deviation: (Default 2.0).
• ​RSI_Period: (Default 7).

​5. Technical Specifications

• ​Platform: MetaTrader 4 (MT4) or MetaTrader 5 (MT5).
• ​Execution Speed: Use OrderSend with immediate execution logic; the code must be optimized to handle Gold's 1-ms price updates.
• ​Error Handling: Include retry logic for "Requotes" or "Common Error" messages from the broker.
• ​Logging: Detailed logs of why a trade was not taken (e.g., "Spread too high," "RSI not met").

​6. Performance Expectations

• ​Backtest Requirement: 99.9% Tick Data quality (using TDS or similar) for the last 12 months.
• ​Recovery Factor: Must exceed 1.5.
• ​Profit Factor: Aim for 1.25+.

​Developer Note: Ensure the EA includes a "News Filter" to pause trading 30 minutes before/after high-impact USD or Gold (XAU) news events, as the Poverty Bot strategy is highly sensitive to news spikes