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Hello Developers,
I am seeking a professional MQL5 developer to create a highly customizable Expert Advisor (EA) for the MetaTrader 5 (MT5) platform. The EA is based on a trading strategy that calculates a price range during a specific session and places trades accordingly. Below are the detailed requirements. If you are interested and confident in delivering this EA, please feel free to comment or reach out to me.
Trading Strategy Overview
1. Session Time:
• The EA should calculate the price range during a configurable time window (default: 7:00 AM to 9:00 AM UTC+8).
• The range should reset only when the next day’s configurable time window is reached, not immediately at day end.
2. Range Calculation:
• Identify the Maximum (High) and Minimum (Low) prices during the session time.
• Calculate the range as Range = Max - Min.
3. First Trade Setup:
• After the session ends, place two pending orders (configurable as either Stop or Limit orders):
• Buy Order:
• Entry: Max + X% * Range (where X is a user-defined parameter)
• Stop Loss:
• For Buy Stop: Min - X% * Range
• For Buy Limit: Entry + (Entry - Min)
• Take Profit: Calculated using a configurable risk-reward ratio
• Sell Order:
• Entry: Min - X% * Range
• Stop Loss:
• For Sell Stop: Max + X% * Range
• For Sell Limit: Entry - (Max - Entry)
• Take Profit: Calculated using a configurable risk-reward ratio
• Risk Management:
• Lot size can be calculated based on either a percentage of account balance (e.g. 1.5%) or an absolute risk amount (e.g. $100).
• Order Management:
• If one order is triggered, the other pending order must be automatically deleted.
• If there are other pending orders based on previous days, it should not delete those pending orders.
4. Second Trade Setup (Only If First Trade Hits Stop Loss):
• Have a configurable parameter whether we should consider second trade or not.
• If user specify yes to 2nd trade, then:
• If the first trade hits its stop loss, immediately execute a market order in the opposite direction.
• If the first trade hits its take profit, there will be no second trade.
• If user specify no to 2nd trade, then ignore 2nd trade.
• For second trade:
• Lot Size: Configurable as a multiple of the first trade’s lot size (default: 4x).
• Stop Loss: Set at the entry price of the first trade.
• Take Profit: Calculated using a configurable risk-reward ratio.
5. Session Break Management:
• Option to close all open positions configurable minutes before session break time.
• Option to remove pending orders configurable minutes before a session break time.
• Configurable parameters to set how many minutes before session break to close positions and/or remove pending orders.
Functional Requirements
1. Platform:
• The EA must be developed in MQL5 for use on MetaTrader 5.
2. Customization Options:
The following parameters should be customizable by the user:
• Session start and end times (default: 7:00 AM to 9:00 AM UTC+8).
• Type of pending orders (Stop or Limit) for both buy and sell orders.
• Percentage adjustment (`X`) for entry and stop loss levels. It should be different X for all the configurable parameters stated above.
• Risk management mode:
• Percentage of account balance (e.g. 1.5%)
• Absolute risk amount in account currency (e.g. $100)
• Lot size multiplier for second trade (default: 4x).
• Risk-reward ratio for both first and second trades.
• Option to close open trades before session break (Yes/No).
• Option to remove pending orders before session break (Yes/No).
• Minutes before session break to close positions and/or remove pending orders (in terms of minutes)
3. Calculation Reset:
• The EA should reset range calculations only when the next day’s configurable time window is reached.
• The reset should not affect previously placed pending orders.
4. Error Handling:
• Ensure robust error handling to manage issues such as insufficient margin, invalid lot sizes, or market gaps.
5. Backtesting Compatibility:
• The EA must be fully compatible with MT5’s strategy tester for historical backtesting.
6. Logging:
• Maintain a detailed log of all actions, including range calculations, order placements, modifications, and closures.
Deliverables
1. Fully functional MQL5 source code (`.mq5` file) with clear comments explaining key sections of the code.
2. A compiled version (`.ex5` file) for testing.
3. Documentation or a brief user guide explaining how to use and customize the EA.
4. Support for minor adjustments or bug fixes after delivery.
Additional Notes
• The EA will primarily be used on forex pairs and possibly gold, so it must handle instruments with different tick sizes and contract specifications.
• I am open to suggestions from experienced developers if you believe certain aspects of my strategy can be optimized or improved.
Budget & Timeline
• Budget: Please provide your quote based on the complexity of this project.
• Timeline: I would like to have this EA delivered within insert your preferred timeline, e.g., 1-2 weeks.
How to Apply
If you are interested in this project, please comment below or send me a message with:
1. A brief introduction about yourself and your experience with MQL5 development.
2. Links to any previous EAs or projects you have worked on (if available).
3. Your estimated cost and timeline for completing this project.
I look forward to working with a skilled developer who can bring this strategy to life!
Thank you!