Simple MT5 Candle Direction Reversal EA

MQL5 Experts

Job finished

Execution time 7 days
Feedback from customer
Did a great job! Very knowledgable and efficient.
Feedback from employee
he knew what he wanted and answered every question on the spec. when something looked off he sent his own terminal logs, so we found the cause fast. thanks jason, hope we work again.

Specification

I need a simple MT5 Expert Advisor (MQL5) programmed exactly according to the following rules.

The EA is a continuous candle-direction reversal strategy.

Candle signal:

  • Close > Open = BUY signal
  • Close < Open = SELL signal
  • Close = Open = no change

Trading logic:

  • After each candle has fully closed, use that completed candle to determine the required trade direction.
  • The signal is acted upon at the opening of the following candle.
  • If the signal is BUY and a BUY is already open, do nothing and continue holding BUY.
  • If the signal is SELL and a SELL is already open, do nothing and continue holding SELL.
  • If the signal changes from BUY to SELL, close the BUY and immediately open a SELL.
  • If the signal changes from SELL to BUY, close the SELL and immediately open a BUY.
  • A Doji (Close = Open) does not close or change the existing position.

Position rules:

  • Only ONE position can be open at any time.
  • Never have BUY and SELL positions open simultaneously.
  • Consecutive candles in the same direction must NOT create additional positions.
  • There is NO Stop Loss.
  • There is NO Take Profit.
  • The only exit is a reversal into the opposite direction.

Example:

Bullish → BUY
Bullish → continue BUY
Bullish → continue BUY
Bearish → close BUY + open SELL
Bearish → continue SELL
Doji → continue SELL
Bullish → close SELL + open BUY

EA startup:
When the EA is first activated, use the most recently completed non-Doji candle to determine the initial direction and open the corresponding position.

Timeframe:
The EA must work on all MT5 timeframes and use the timeframe of the chart to which it is attached.

Position size:
Lot size should be a user-adjustable input, with 1.00 lot as the default.

Please confirm that you understand the above logic before development begins.

I also require the complete MQL5 source code (.mq5), as well as the compiled EA (.ex5).


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Project information

Budget
40 - 80 USD
Deadline
from 2 to 5 day(s)