Smart Money Concepts MQL5 Expert Advisor Project

Project Overview

Development of an advanced MetaTrader 5 Expert Advisor (EA) implementing Smart Money Concepts (SMC) trading methodology with comprehensive risk management and an intuitive trading panel interface. The EA will automate the identification and execution of high-probability setups based on institutional trading behavior analysis.

Smart Money Concepts Implementation

Market Structure Analysis

• Automated Break of Structure (BOS) and Change of Character (CHoCH) detection
• Higher High (HH), Higher Low (HL), Lower High (LH), Lower Low (LL) identification
• Multi-timeframe trend analysis and confluence detection
• Market structure shift notifications and alerts

Order Block Detection

• Bullish and bearish order block identification algorithm
• Order block validation using volume and price action criteria
• Fresh vs. tested order block classification
• Automatic drawing of order block zones on charts

Fair Value Gap (FVG) Analysis

• Real-time FVG detection across multiple timeframes
• Gap classification (bullish imbalance, bearish imbalance, void)
• FVG mitigation tracking and alert system
• Historical gap performance statistics

Liquidity Analysis

• Equal highs/lows liquidity pool identification
• Stop hunt detection and analysis
• Liquidity sweep confirmation mechanisms
• Internal and external liquidity mapping

Advanced Risk Management Features

Position Sizing

• Fixed lot size, percentage-based, and volatility-adjusted sizing
• ATR-based position calculations
• Maximum risk per trade and daily limits
• Portfolio heat management across multiple pairs

Stop Loss & Take Profit Management

• Structure-based SL placement (beyond key levels)
• Multiple TP levels with partial position closing
• Trailing stop with SMC-specific logic
• Break-even functionality after reaching R:R ratios

Risk Controls

• Maximum daily/weekly/monthly loss limits
• Drawdown-based trading suspension
• Correlation filter to avoid overexposure
• News event trading restrictions
• Maximum open positions limit

Trade Management

• Dynamic lot scaling based on account equity
• Risk-reward ratio optimization (minimum 1:2 R:R)
• Swing failure pattern recognition for early exits
• Time-based trade filtering (session-specific trading)

Interactive Trading Panel Features

Main Dashboard

• Real-time P&L display and statistics
• Active positions overview with floating P&L
• Account information (balance, equity, margin, free margin)
• Daily, weekly, monthly performance metrics

Setup Scanner

• Live SMC setup detection across multiple timeframes
• Order block and FVG opportunity alerts
• Market structure change notifications
• High-probability trade suggestions with confluence scoring

Manual Trading Controls

• One-click order placement with predefined risk parameters
• Quick position sizing calculator
• Emergency close all positions button
• Individual trade management (modify SL/TP, close partial)

Risk Management Interface

• Real-time risk exposure monitoring
• Drawdown visualization and alerts
• Risk parameter adjustment controls
• Trading session on/off switches

Technical Specifications

Core Architecture

• Object-oriented MQL5 programming with modular design
• Multi-timeframe analysis engine
• Efficient memory management for tick processing
• Error handling and connection loss recovery

Performance Features

• Optimized for low-latency execution
• Minimal CPU usage through smart calculation triggers
• Historical data validation and integrity checks
• Comprehensive logging system for debugging

Customization Options

• Configurable SMC parameters and sensitivity settings
• Multiple trading strategies within single EA
• Custom alert systems (email, push notifications, sound)
• Flexible panel layout and color schemes

Key Parameters & Settings

Smart Money Settings

• Order block minimum size and validation criteria
• FVG detection sensitivity and filtering options
• Structure break confirmation requirements
• Liquidity level significance thresholds

Risk Management Parameters

• Maximum risk per trade (0.5-5% of account)
• Daily loss limit (2-10% of account)
• Maximum concurrent positions (1-10)
• Correlation threshold for multiple positions

Trading Session Controls

• Active trading hours per instrument
• High-impact news event filters
• Weekend and holiday trading restrictions
• Market volatility-based activation

Expected Outcomes

• Consistent identification of high-probability SMC setups
• Automated execution with institutional-level risk management
• Significant reduction in emotional trading decisions
• Enhanced trading performance through systematic approach
• Comprehensive trade analysis and performance tracking

This EA will provide retail traders with institutional-grade Smart Money Concepts implementation, combining sophisticated market analysis with robust risk management in an accessible, user-friendly interface.