Specification
Build this Expert Advisor (EA)
1. Risk Management
- Risk per Trade: The EA will calculate the lot size based on the risk percentage (1-2% of the account balance). This will be a customizable input.
- Stop Loss & Trailing Stop: The EA will place a stop loss at a defined level (based on strategy parameters like ATR, recent support/resistance, etc.) and will implement a trailing stop to lock in profits as the trade moves in your favor.
- Take Profit (TP): Trades will have a TP level set based on predefined parameters. The EA will automatically close trades when the TP is reached.
2. Strategy Selection
- Trend Following:
- Indicators: The EA will use Moving Averages (MA), MACD, or ADX to identify trends.
- Entry/Exit: Trades will be opened in the direction of the trend, with customizable settings for MA periods, MACD settings, and ADX thresholds.
- Mean Reversion:
- Indicators: Bollinger Bands and RSI will be used to identify overbought or oversold conditions.
- Entry/Exit: Trades will be opened when the price deviates significantly from the mean, with customizable settings for Bollinger Bands and RSI levels.
- Breakout Strategy:
- Price Patterns: The EA will monitor for consolidation patterns (e.g., triangles, flags) and enter trades when a breakout occurs.
- Momentum: The EA will ensure strong momentum is present by using volume or volatility filters.
- Customizable Inputs: All indicator settings, risk management parameters, and strategy preferences will be customizable via input variables.
3. Diversification
- Multiple Currency Pairs: The EA will support trading multiple currency pairs simultaneously. You can input the pairs you want to trade.
- Uncorrelated Assets: The EA can also be configured to trade assets like gold or indices.
- Risk Management Across Pairs: The EA will include logic to avoid overexposure to a single currency or region.
4. News Trading
- News Filter: The EA will integrate with Forex Factory or other major news sites to automatically pause trading 30 minutes before major news releases and resume trading 30 minutes after.
- Customizable Variables: You can set the sensitivity of the news filter, choosing which types of news events (e.g., high impact, medium impact) should trigger a trading pause.
- User Guide: Provide a user guide, explaining how to configure the EA, adjust input variables, to enable to use ea effectively.
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