Hi,
I would like to commission an Expert Advisor (EA) for MetaTrader 5 (MT5) based on the Smart Money Concepts (LuxAlgo) indicator, which is available in the MQL5 Market.
Below are the detailed specifications for the EA:
1. General Parameters & Symbol
Trading Asset: Gold (XAUUSD)
Timeframe: 5-Minute (M5)
Indicator Integration: Integration with "Smart Money Concepts (LuxAlgo - Smart Money Concepts)" via iCustom or buffer readings.
2. Entry Rules
Signal Generation: The EA should monitor the indicator for BOS (Break of Structure) or CHoCH (Change of Character) signals.
Candle Confirmation:
For a Long position: After a bullish BOS/CHoCH signal is triggered, the following 5-minute candle must close Green (Bullish).
For a Short position: After a bearish BOS/CHoCH signal is triggered, the following 5-minute candle must close Red (Bearish).
Position is opened at the close of the confirmation candle.
3. Stop Loss (SL) & Take Profit (TP)
Stop Loss: Max fixed Stop Loss of $6.00 - $7.00 (60 - 70 pips / 600 - 700 points on XAUUSD). Please make this an editable input parameter in the EA settings.
4. Equilibrium Zone (Grey Zone) Logic
The Equilibrium / Grey Zone from the SMC indicator should act as a key decision point for targets and trend changes:
Targeting (Take Profit):
When a Short position is opened, the Take Profit should be set around/near the Equilibrium (Grey Zone).
Exit & Wait Logic:
If the price finds support at the Equilibrium Zone (reaches the zone without breaking through), the EA must close the Short position immediately.
After closing the short position at the Equilibrium Zone, the EA must wait for a few 5-minute candles before evaluating/opening any new Long position (please include a parameter: CandlesToWaitAfterExit).
5. Additional EA Requirements
Inputs/Parameters:
Lot Size (Fixed / Risk %)
Stop Loss in USD/Points
Option to set buffer numbers for the SMC indicator if needed
Number of candles to wait after exiting at the Equilibrium Zone
Magic Number & Trade Comment
Clean, well-commented code.
Proper error handling for execution and order placement.
Please let me know if you have any questions or require the indicator file to test buffer indexes. Looking forward to your offers!
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