Development of a Price Action EA based on Candle Structure and Pending Orders (False Breakout Logic)

MQL5 Experts

Job finished

Execution time 24 days

Specification

I am looking for an experienced MQL5 developer to program a professional Expert Advisor based on specific Price Action logic and Market Structure analysis.


IMPORTANT:

The exact strategy logic, specifically the rules for defining the entry setup, is confidential. The detailed strategy document (PDF) and specific rules will be provided privately to the selected developer.


General Concept:

The EA trades based on pure OHLC candle structure and Fractal points. It identifies liquidity sweeps (False Breakouts) and places pending orders.


Technical Requirements:

  1. Market Structure Recognition:

    • Identification of significant Highs and Lows (based on Fractals or a defined candle range).

    • Detection of "False Breakouts" (Price sweeps a level but closes in the opposite direction).

  2. Order Management (Crucial):

    • The EA must use Limit Orders (Buy Limit / Sell Limit), not Market Execution.

    • Pending orders must be placed at a specific price point derived from the signal candle (e.g., the high/low or open/close of the setup candle).

    • Invalidation Logic: The EA must be able to delete a pending order if the price violates specific conditions (e.g., if the price cuts too deep into the setup zone before filling the order).

  3. Risk Management:

    • Dynamic Lot sizing based on Risk % of Account Balance.

    • Automatic Stop Loss (SL) and Take Profit (TP) placement based on the structure of the signal candle.

  4. Filters:

    • Ability to filter trades using RSI (Overbought/Oversold zones).

    • Time filter (Start/End hour).

  5. Deliverables:

    • Clean, commented, and error-free Source Code (.mq5).

    • The EA must pass the Strategy Tester without errors.

Please only apply if you have experience with Price Action EAs and managing Pending Orders/Limit Orders programmatically.


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Budget
30 - 50 USD