MT4 EA Requirements for 5 Pairs, 1H Only, SMI (Period_Q=5), MFI, Two Positions, 5-Pip Max Spread Overview: - I’m a beginner needing an MT4 EA for OANDA (5-digit, 1-3 pip spreads, up to 5-8 pips during news, 50:1 leverage). - Strategy: Five pairs (EUR/USD, GBP/USD, USD/JPY, AUD/USD, USD/CAD), 1H timeframe only. - Budget: $70-120, Timeline: 4-8 days. Strategy Details: - Instruments: Five pairs (EUR/USD, GBP/USD, USD/JPY, AUD/USD, USD/CAD), 1H only. - Indicators: - SMI (custom, 70/30 levels, Period_Q=5, Period_R=5, Period_S=2, Signal=2). File: SMI.ex4 (attached). - MFI(3): Built-in, Period=3, reversals >80/<20. - MFI(7): Built-in, Period=7, trend confirmation. - ATR: Built-in, Period=14, for 1.5x stops. - Entry Rules: - Sell: SMI[1] > 70, SMI[0] < 70; MFI(3)[1] > 80, MFI(3)[0] < 80; MFI(7)[0] < MFI(7)[1]; spread ≤ MaxSpread_Pips (default 5, adjustable). - Buy: SMI[1] < 30, SMI[0] > 30; MFI(3)[1] < 20, MFI(3)[0] > 20; MFI(7)[0] > MFI(7)[1]; spread ≤ MaxSpread_Pips (default 5, adjustable). - All pairs, candle close. - Position Management: - Two positions per trade: - First: TP 20 pips (e.g., EUR/USD sell at 1.0800, TP 1.0780). - Second: TP 50 pips (adjustable via SecondTP_Pips, e.g., 1.0750), SL adjusts after first TP. - Stop Loss: - Initial: 1.5x ATR (1H): EUR/USD ~30 pips, GBP/USD ~35-45 pips, USD/JPY ~25-30 pips, AUD/USD ~25-30 pips, USD/CAD ~30-35 pips. - Second Position: After first TP, SL moves to entry + SecondSL_Adjustment (default +2 pips, adjustable, e.g., +10, 0, -10). - Additional Trades: - After second position’s SL adjusts, allow new trades (any pair, same rules, max 5 open trades). - Risk Management: - 1% risk per trade ($100 on $10,000), split lots (e.g., 0.17 each for EUR/USD). - Dynamic: LotSize = (AccountBalance * 0.01) / (StopLossPips * PipValue). - Input: RiskPercent = 1.0 (0.5, 1.0, 1.5, 2.0). - Exit Rules: - First: TP 20 pips. - Second: TP 50 pips (adjustable), or SMI reversal (optional, >50 sells, <50 buys). - Optional Filters: - No news (NFP, FOMC, ECB). - Max 5 trades/day. - No trading on Friday afternoons; close all existing trades at 4:55 PM on Fridays. Inputs: - RiskPercent: 1.0 (0.5, 1.0, 1.5, 2.0). - SecondTP_Pips: 50 (adjustable, e.g., 30, 40, 60). - SecondSL_Adjustment: +2 pips (adjustable, e.g., +10, 0, -10). - MaxSpread_Pips: 5 (adjustable, e.g., 3, 7). - MaxTrades: 5 (adjustable). Needs: - EA monitors all pairs from one chart. - Alerts: “EUR/USD sell at 1.0800, spread 2 pips, SL adjusted to 1.0790.” - Deliverables: .ex4 file, bug fixes for 2 months, 5-minute video guide for demo setup.
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