Specification
Name: SteelEdge
Platform: MetaTrader 5 (MQL5) Expert Advisor
Instruments: XAUUSD, EURUSD, US30
Timeframe: H1 (inputs to change it)
STRATEGY
- Trend filter: buy only when price is above the 200 EMA, sell only when below
- Entry: price pulls back to the 50 EMA and a bullish (buy) or bearish (sell) engulfing candle closes
- Confirmation: RSI(14) above 50 for buys, below 50 for sells
- Stop loss: 1.5 x ATR(14)
- Take profit: 2 x the stop loss distance (1:2 risk-reward)
RISK MANAGEMENT
- Risk 1% of balance per trade, auto lot size from SL distance
- Max 1 trade per symbol, max 3 trades total
- Stop trading for the day if daily loss reaches 3%
- Move SL to breakeven after 1R profit
FILTERS
- Trade only London and New York sessions (server time, adjustable)
- Skip trades if spread is above a set maximum
- No trades 30 min before and after high-impact news (NFP, FOMC)
- No new trades on Friday after 20:00
REQUIREMENTS
- All settings as input parameters for the Strategy Tester
- Magic number, slippage setting, error handling
- Small on-chart panel showing status, daily P/L, open trades
- Full .mq5 SOURCE CODE delivered, not only the .ex5 file
- Tested on Razor Markets MT5 account
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