Key Features for the EA
1. Timeframe: M5 (5-minute) or M15 (15-minute)
2. Currency Pairs: EUR/USD, GBP/USD, USD/JPY (low spread pairs)
3. Trading Sessions: London and New York sessions for optimal volatility
4. Entry Strategy: Combination of indicators for precision
5. Exit Strategy: TP/SL and trailing stop mechanism
6. Risk Management: Fixed lot size or percentage of equity
Entry Strategy (Conditions for Opening Trades)
Indicators
• Exponential Moving Average (EMA) 50 – Trend filter
• Exponential Moving Average (EMA) 200 – Trend confirmation
• Relative Strength Index (RSI) – Entry signal confirmation
• Average True Range (ATR) – Dynamic stop loss calculation
Buy Entry Conditions
1. EMA 50 > EMA 200 (bullish trend confirmation)
2. RSI crosses above 30 from below (oversold recovery)
3. Candle closes bullish above EMA 50
4. ATR value determines the optimal stop loss distance
5. Open a buy order when all conditions align
Sell Entry Conditions
1. EMA 50 < EMA 200 (bearish trend confirmation)
2. RSI crosses below 70 from above (overbought reversal)
3. Candle closes bearish below EMA 50
4. ATR value determines the optimal stop loss distance
5. Open a sell order when all conditions align
Exit Strategy (Conditions for Closing Trades)
• Take Profit (TP): 1.5x ATR value
• Stop Loss (SL): ATR value
• Trailing Stop: 0.5x ATR to lock in profits
• Break-even Rule: Move SL to entry after gaining 10 pips
Risk Management Strategy
• Lot Size: 1-2% of account balance per trade
• Max Drawdown Limit: 10-15% of total equity
• Max Open Trades: 3 trades at a time to minimize exposure
Additional Features for Optimization
1. News Filter: Avoid trading during high-impact news events.
2. Time Filter: Enable trades only during optimal market hours (London/NY sessions).
3. Spread Filter: Avoid entries when spreads exceed a set threshold.
4. Dynamic Lot Sizing: Automatically adjust lot size based on equity growth.
Coding Best Practices for MT5
• Use MQL5’s Object-Oriented Programming (OOP) structure for better performance.
• Implement Error Handling to prevent trade execution issues.
• Use OnTick() for fast decision-making during price updates.
• Optimize using MT5 Strategy Tester with historical data before live trading.
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