Development of a Fully Automated EA for XAU/USD (Price Action & Support/Resistance) with Prop Firm Risk Management

MQL5 Experts

Specification



Hi, 

I need a fully automated Expert Advisor (EA) developed for MetaTrader 5 (MT5) specifically optimized for XAU/USD (Gold). The EA must be strictly compliant with Prop Firm rules (No Martingale, No Grid, No Hedging).

Here are the detailed specifications for the EA:

1. Trend & Level Identification (Fully Automated)
- The EA must automatically identify major Support and Resistance levels based on recent swing highs/lows using the ZigZag approach or Fractal peaks on the H1/H4 timeframes.
- Daily Pivot Points should also be calculated automatically at the start of each trading day to act as secondary key levels.

2. Entry Logic (Price Action Triggers)
The EA should monitor the price around the identified levels on lower timeframes (e.g., M5 or M15):
- Buy Setup: Price approaches a Support/Pivot level and forms a bullish rejection candle (Pin Bar, Hammer, or Bullish Engulfing). Enter Buy at the close of the candle.
- Sell Setup: Price approaches a Resistance/Pivot level and forms a bearish rejection candle (Shooting Star or Bearish Engulfing). Enter Sell at the close of the candle.
- False Breakout (Liquidity Sweep): If price briefly breaks a key level but immediately closes back inside with a strong rejection candle, enter a trade in the opposite direction of the breakout.

3. Strict Risk Management (Prop Firm Compliant)
- Dynamic Lot Sizing: Automatically calculate the Lot Size based on a fixed risk percentage per trade (e.g., 0.5% or 1% of the current account balance) relative to the Stop Loss distance.
- Immediate Stop Loss & Take Profit: Every trade must be executed with a hard Stop Loss (SL) and Take Profit (TP) sent immediately with the market order.
- Reward-to-Risk Ratio: Minimum 1:2.
- Break-Even & Trailing Stop: Once the trade moves 50% towards the TP, automatically move the SL to Entry Price (Break-Even).
- Daily Drawdown Limit: If the total floating or realized loss reaches 4% within a single day, the EA must instantly close all open trades, delete pending orders, and completely disable itself until the daily broker time reset.

4. News Filter (Crucial)
- Integrate an Economic Calendar API.
- The EA must stop opening new trades 30 minutes before high-impact news (e.g., Federal Reserve Decisions, ADP, NFP) and remain paused until 30 minutes after the news release.

5. Parameters to be External (Adjustable Inputs)
- Risk percentage per trade (Default: 0.5%)
- Maximum Daily Drawdown percentage (Default: 4.0%)
- Target Reward-to-Risk ratio (Default: 2.0)
- News filter activation (True/False)
- Timeframes for level detection (H1, H4) and entry triggers (M5, M15).

Please provide your quote, estimated time of delivery, and confirm your experience with creating Prop Firm compliant EAs. Thank you!

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Project information

Budget
30+ USD