Development of an MQL4 Bot for News-Based Straddle Orders with Custom Risk Management and Time-Based Trade Closure

Description:

I am seeking an experienced MQL4 developer to create a forex trading bot that incorporates the following features:

1. News Scraping Functionality: The bot should have the capability to scrape forex news from designated sources, such as Forex Factory and MyFXBook, to identify upcoming high-impact news events pertinent to the forex market.

2. Straddle Order Placement: Upon identifying significant news events, the bot should execute straddle orders (a pair of simultaneous buy and sell orders) shortly before the news release. The timing for these order placements should be adjustable through external inputs.

3. Custom Risk Management:

   • Risk Configuration via External Inputs: Users must be able to define the risk level for each trade as a percentage of their account balance.
   • Adjustable Stop Loss Settings: It should be possible for users to set the stop loss distance from the entry point for both buy and sell orders separately.

4. News Event Filtering: The bot should enable users to filter which types of news events to trade, based on the forecasted impact level (e.g., high, medium, or low impact).

5. Time-Based Trade Closure:

   • External Input for Trade Closure Timing: Users should be able to specify, through an external input, the duration (in minutes) after which an open trade should be automatically closed. This feature is crucial for managing trades that do not reach their stop loss or take profit levels within a specified time frame.

6. User Interface: While the primary configuration will be managed via external inputs, the bot should come with simple and clear instructions for setup and configuration.

Requirements:

• Demonstrable experience in MQL4 bot development, especially with trading bots for the MT4 platform.
• Comprehensive understanding of forex market dynamics, especially in relation to news event trading.
• Proficiency in implementing web scraping within the MQL4 environment, respecting the terms of service of the utilized news sources.
• Previous work samples related to forex trading bots or similar projects are preferred.

Deliverables:

• A fully operational MQL4 bot that adheres to the outlined specifications.
• Comprehensive documentation on installation, configuration, and usage of the bot, including details on adjusting external inputs for risk management, news event filtering, and trade closure timing.
• The complete source code for the bot, with comments to elucidate major code segments for ongoing maintenance or modifications.