FreelanceSections

Develop Advanced EA

MQL5 Experts

Job finished

Execution time 11 days
Feedback from employee
Marco is more than a client. He's one of the best amongst the best!
Feedback from customer
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Specification

Develop a Forex expert advisor that uses a scalping strategy to open 5 trades of 0.01 lots each with a profit target of 2 pips per trade on a 1-minute timeframe. The EA should be able to run 24/5, using 1-2 pairs per session.

Strategy:

  • The EA will use the following technical indicators to identify profitable trade opportunities:

    • Moving Averages (MA):
      • 5-period Simple Moving Average (SMA) applied to Close
      • 20-period Exponential Moving Average (EMA) applied to Close
      • 50-period Simple Moving Average (SMA) applied to Close
    • Support and Resistance Levels:
      • The EA will identify major support and resistance levels using a combination of pivot points and Fibonacci retracements.
    • Price Action Patterns:
      • The EA will use candlestick patterns such as Pin Bars, Dojis, and Engulfing Patterns to identify potential reversal points.

  • The following parameters will be used for the technical indicators:

    • Moving Averages:
      • Buy signal: When the 5-period SMA crosses above the 20-period EMA and both are above the 50-period SMA.
      • Sell signal: When the 5-period SMA crosses below the 20-period EMA and both are below the 50-period SMA.
    • Support and Resistance Levels:
      • Buy signal: When price breaks above a major resistance level.
      • Sell signal: When price breaks below a major support level.
    • Price Action Patterns:
      • Buy signal: When a bullish reversal pattern is formed.
      • Sell signal: When a bearish reversal pattern is formed.

  • The EA will open 5 trades of 0.01 lots each as soon as a signal is generated. A stop loss of 10 pips will be placed for each trade, and a take profit of 2 pips per trade will be used in a sequential manner.

  • The EA will check the market conditions at the beginning of each session and send a notification if the market is not ready for the scalping strategy. It will also send a notification at the end of each hour with the profit or loss for that hour.

  • The EA will run 24/5, using 1-2 pairs per session. The pairs used during each session will be chosen based on the market conditions and the performance of the EA in previous sessions.


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Project information

Budget
30 - 1000 USD
For the developer
27 - 900 USD
Deadline
from 1 to 5 day(s)