Daily Bias Range Breakout EA

✅ Daily Bias Range Breakout EA – Developer Specification

1. ✅ Core Concept – What the EA Does

• The EA (Expert Advisor) analyzes yesterday’s daily candle to determine the market bias: bullish or bearish.
• On the next day, it waits for a matching H1 (1-hour) candle during a specific time window (e.g., 8 AM–12 PM New York time).
• When a valid H1 candle is found, it places a pending Buy Stop or Sell Stop order at the high/low of that candle.
• The trade is executed only if market structure and time filters align.
• The EA supports automatic re-entry if stop loss is hit.
• It must work reliably across all symbols (Gold, US30, EURUSD, BTC, etc.).

2. 🧭 Daily Bias Logic (Executed Once Per New Trading Day)

• At the beginning of each new day:
• If D1 Close > D1 Open → Bias = Bullish
• If D1 Close < D1 Open → Bias = Bearish
• If D1 Close == D1 Open → No Bias (No Trade)
• This bias determines the only trade direction allowed for the current day.

3. ⏰ Trading Time Window (User-Defined)

• The EA only looks for setups during a specific time range (e.g., 08:00 - 12:00 EST).
• Supported time zones:
• EST (New York)
• GMT (London)
• Broker Server Time
• The EA must convert the selected time zone to Broker Time internally.

4. 📊 Trigger Candle – H1 Confirmation

• Within the allowed time window, the EA scans each completed H1 candle.
• A valid trigger candle must:
• Be bullish if daily bias is bullish (Close > Open)
• Be bearish if daily bias is bearish (Close < Open)
• Finish (close) within the time window
• Once one valid H1 candle is found, it becomes the Trigger Candle for entry.

5. 📈 Order Execution (Main Trade Entry)

• Based on the Trigger Candle:
• If bullish bias:
• Place Buy Stop at High of the candle
• SL at the Low
• If bearish bias:
• Place Sell Stop at Low
• SL at the High
• Take Profit (TP) = calculated based on Risk-to-Reward ratio (e.g., 1:2)
• Lot Size Options:
• Fixed lot (e.g., 0.1)
• Percentage of account balance (e.g., 1%)
• Fixed dollar risk per trade (e.g., $50)
• Risk management logic must handle lot size calculation accordingly.

6. 🔁 Re-Entry Logic (After SL Hit)

• If main trade hits SL, EA can retry the same trade setup with configurable logic:
• Re-entry is optional (toggleable ON/OFF)
• Wait for a delay (e.g., 30 seconds or 5 minutes) before retry
• Re-enter using the same:
• Direction (Buy/Sell)
• Entry point
• SL and TP
• Limit retries with MaxRetryCount (e.g., 3 max re-entries)
• Optional: reduce lot size on each retry (e.g., -20% each time)

7. 📋 Dashboard Display

• The EA must display an on-screen panel showing:
• Broker Time, New York Time, London Time
• Current Daily Bias (Bullish, Bearish, or No Trade)
• Trading Window (Start – End time)

8. ❌ Restrictions and Risk Filters

• Only ONE main trade per day is allowed. -  i.e trade from H1 reentry candle
• Re-entries are not counted as a separate day trade. -  reentries can be several trades a day
• Do NOT place trades if:
• Spread exceeds user-defined max spread (e.g., 30 points)
• No valid H1 candle matches the daily bias
• Time window has closed
• Daily bias is undefined (Open = Close)

9. 🔄 Complete Daily Workflow Summary

1. Wait for new trading day (detect using broker’s D1 candle).
2. Read yesterday’s candle:
• If bullish → look for bullish setup
• If bearish → look for bearish setup
3. During the trading window:
• Monitor completed H1 candles
• If one matches bias → place pending Buy/Sell Stop order
4. If trade executes and hits TP → done for the day.
5. If trade hits SL:
• Wait for delay
• Retry with same setup (max retries allowed)
• Optionally reduce lot size each time
6. Show all key info on the dashboard

📦 Delivery & Testing

• Deliver: Fully functioning EA (.ex5 + .mq5 source code)
• I will test the EA live for 1 weeks before final approval.
• I am not available for debugging. Deliver a tested product ready for use.