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I want to hire a professional MQL5 developer to build an automated Expert Advisor (EA) for MetaTrader 5 that trades using Institutional Order Blocks (OB) logic combined with BOS (Break of Structure) and ChoCH (Change of Character) confirmations.
The EA should identify valid order blocks (“Boss” phase) and execute precise trades (“Charge” phase) with full risk and trade management.
The idea is based on the “Smart Money Concepts” (SMC) approach, integrating principles from several public OB strategies (ForexCracked, Nikvest, XS.com).
I need the EA to detect, mark, and trade order blocks automatically according to the logic detailed below.
2. Strategy Logic
A. Boss Phase – Order Block Identification
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Detect impulsive moves: Find a strong directional move preceded by a clear counter-trend candle (the “last opposing candle”).
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Bullish OB: last bearish candle before a strong bullish impulse.
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Bearish OB: last bullish candle before a strong bearish impulse.
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Liquidity sweep filter: Confirm that price grabbed liquidity before the impulse (e.g., took out prior swing high/low).
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Fair Value Gap (FVG): Ensure the impulse left an imbalance or FVG.
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BOS / ChoCH confirmation: A valid OB must coincide with a break of structure (BOS) or change of character (ChoCH).
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Volume filter (optional): Impulse candle volume > average volume.
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Zone validation:
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OB zone = full range of the “last opposing candle” (high-low).
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Mark the zone as “active” only if not mitigated previously.
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Trend alignment: Optionally trade only in the direction of higher-timeframe trend.
B. Charge Phase – Trade Execution
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Entry trigger: When price returns to an active OB zone:
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Wait for confirmation: rejection candle, engulfing, pin bar, or micro-structure break (on lower timeframe).
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Entry at close of the confirmation candle or at 50 % of the OB (“equilibrium” entry).
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Stop-Loss (SL):
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Long = a few pips below OB low.
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Short = a few pips above OB high.
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Take-Profit (TP) options:
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Fixed Risk : Reward ratio (e.g. 1:2 or 1:3).
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Next structural level / opposite OB zone.
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Partial exits: TP1 at 1R (move SL to BE), TP2 at 2R.
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Trade management:
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Optional trailing stop (on/off, parameters configurable).
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Cancel trade if price fully breaks the OB zone without rejection.
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3. Technical Requirements
| Component | Description |
|---|---|
| Platform | MetaTrader 5 (MQL5) |
| Pairs | Configurable (EURUSD, GBPUSD, etc.) |
| Timeframes | Configurable: e.g., H4/H1 for detection, M15/M30 for entries |
| Risk Management | % of account per trade or fixed lot size |
| Trade Limits | Max active OB zones and trades configurable |
| Session Filter | Allow trading only during specific hours/sessions (e.g., London/New York) |
| Mitigation Logic | Once an OB zone is “mitigated” (price fully trades through it), mark as inactive |
| Logging / Reporting | EA must generate a log or CSV file with: date/time, pair, OB coordinates, entry, SL, TP, result (pips and RR) |
| Chart Display | Draw OB zones (green = bullish, red = bearish) and entry markers (arrows or labels) |
| Backtesting | Fully functional in MT5 Strategy Tester |
| Error Handling | Handle spread changes, connection losses, duplicate orders safely |
| Documentation | Include a user manual explaining parameters, examples, and usage guide |
4. User Parameters (Inputs)
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Symbols list
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Detection timeframe
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Entry timeframe
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Risk % or lot size
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Reward/Risk ratio
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Use trailing stop (Yes/No) + settings
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OB buffer (pips beyond OB for SL)
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Max OB zones active
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Volume filter (Yes/No + threshold)
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Mitigation limit (X times tested)
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Trading hours (session start/end)
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Alerts (on/off)
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Log file (on/off)
5. Delivery & Milestones
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Phase 1 – Core logic & zone visualization
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Phase 2 – Trade execution + management rules
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Phase 3 – Optimization, backtesting support, and final documentation
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Deliver in compiled (.ex5) and source (.mq5) formats.
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Code must be clean, commented, and easily adjustable.
6. References (for developer understanding)
7. Notes
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The EA should not repaint historical OB zones.
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Must allow manual removal or refresh of outdated OBs.
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Should handle both bullish and bearish OBs dynamically.
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Developer should be open to minor adjustments after testing phase.
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The goal is not guaranteed profits but a solid, testable automation of a verified SMC concept.
8. Expected Deliverables
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EA file (.ex5)
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Source code (.mq5)
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User Manual (PDF or .docx)
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Screenshots or short video of strategy tester run
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Optional: optimization template (.set file)
Ready to start ASAP.
Please quote time + cost and include examples of previous Order Block or Smart Money Concept projects.