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Project Overview:
We need a professional MQL5 developer to build a robust Expert Advisor (EA) for MetaTrader 5 that focuses on risk management for a trading account. The EA should work on all open charts within the account and allow all parameters to be adjustable via a .set file.
Core Requirements:
1. Account & Time Detection
- Detect account balance, equity, and margin.
- Detect the current account time.
2. Order Management & Execution Rules
- Minimum account equity threshold for closing all orders.
- Custom order comment and magic number.
- Option to close orders at the end of the trading day (Yes/No).
- Option to close all orders before the weekend, with a customizable closing time (e.g., Friday 21:00).
3. Daily Drawdown Protection
- Maximum daily drawdown in $ (when reached, by hard limit: close all orders ).
- Option to include open orders in daily drawdown calculation (Yes/No).
- Reduce day-start drawdown to a maximum $ amount, with a customizable reset time (e.g., 00:00, 06:00, etc.).
- Option to close all opposite orders (Yes/No) (for example EURUSD buy/sell)
- Minimum % match for lot size when closing opposite orders.
- Priority of closing orders: oldest first / largest loss first.
4. Soft & Hard Daily Drawdown Limits
- Soft Limit: Once a certain drawdown level is reached, the EA stops placing new trades but does not close existing ones.
- Hard Limit: If a higher threshold is reached, the EA force-closes all trades and stops trading for the day.
- Pause all EAs from opening new trades for the rest of the day once a specified condition is met (e.g., after reaching a soft or hard drawdown limit).
- Dashboard Integration: A clear visual indicator (e.g., "TRADING PAUSED") must be displayed on the dashboard when this mode is active.
- Parameter: Choose whether the EA should automatically resume trading the next day or require manual reactivation.
5. Dashboard & Alerts
- On-chart dashboard displaying current drawdown, equity, margin, and trading status.
- Visual status updates, including:
- Current drawdown in $ and %.
- Drawdown by start of the day in $ and %
- Day profit by cart/EA/Currancy in $ and % of total
- Week profit by cart/EA/Currancy in $ and % of total
- Whether trading is paused or active.
- Whether new trades are allowed or blocked.
- Email Alerts for critical events, such as:
- Approaching the soft/hard drawdown limit.
- Account equity dropping below the minimum threshold.
- EA stopping new trades and closing all positions due to drawdown rules.
Additional Requirements:
- The EA must work on all open charts in the account.
- Well-structured source code must be delivered before payment.
- The code should be commented and optimized for future updates.
- The EA must be resource-efficient and avoid excessive CPU/memory usage.
- Developer should provide a short setup guide explaining how to use the EA.
Preferred Developer Experience:
- Proven experience in developing MQL5 EAs.
- Understanding of risk management principles in proprietary trading.
- Experience with dashboard design and alert systems in MT5.
Deliverables:
- Fully functional MT5 EA that meets all the requirements.
- Source code (mandatory for payment).
- A .set file with all adjustable parameters.
- Short setup guide on how to configure and use the EA.
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