Project Requirements Document (PRD): TradingView Webhook-Integrated MT5 Expert Advisor (EA)

Project Requirements Document (PRD): TradingView Webhook-Integrated MT5 Expert Advisor (EA)

Project Overview: I am looking to develop a MetaTrader 5 (MT5) Expert Advisor (EA) that automatically executes trades by catching signals (via Webhook) from a custom, closed-source TradingView indicator. The EA must handle all risk and trade management (Stop Loss, partial Take Profits, Trailing Stop) internally on the MT5 side.

1. System Architecture & Execution Logic (IMPORTANT)

Since I do not have the source code for the TradingView indicator, we will not code the strategy from scratch in MQL5. The system will operate on the following architecture:

• Signal Source (TradingView): The "BUY (Long)" and "SELL (Short)" pre-confirm and main confirm signals from the indicator will be set up as TradingView Alerts.

• Bridge / Webhook Communication: TradingView alerts will be sent to MT5 via Webhook in a standard JSON format (Direction, Symbol, etc.). (You can use a ready-made bridge like PineConnector, TradingConnector, or integrate your own custom local API/server solution into the EA).

• Trade Execution (MT5 EA): The EA will instantly read incoming signals, identify the symbol, and execute/manage the trade on MT5 according to the risk management rules defined below.

2. Risk & Money Management (Lot & SL Calculation)

Right before opening a trade based on a received signal, the EA must automatically calculate the following:

• Dynamic Lot Sizing: No fixed lot sizes. The EA must calculate the lot size automatically based on a user-defined "Account Risk Percentage" (e.g., 1% or 2% of the balance) and the distance to the Stop Loss.

• Stop Loss (SL) Assignment: Upon trade entry, a dynamic Stop Loss level must be assigned. This should be calculated based on market volatility (ATR) or recent swing high/low levels.

3. Trade Management & Partial Close (TP & Trailing)

The most crucial part is how the EA manages an open position. The EA should determine 5 Take Profit levels based on Fibonacci or predefined Risk/Reward (RR) ratios:

• Partial Close: As the price reaches TP1, TP2, TP3, etc., the EA must close specific percentages of the open lot size (e.g., adjustable settings like closing 40% of the position at TP1, 20% at TP2, etc.).

• Break-Even: When the price hits the first target (TP1), the Stop Loss must automatically be moved to the entry price to make the trade risk-free.

• Trailing Stop: As the trade moves further into profit, the SL should trail the price at a predefined distance/step.

4. Safety, Filters & UI

• Slippage & Max Spread Filter: If the spread exceeds a predefined limit (e.g., during news releases or market open), the EA must ignore the TradingView signal and not open a trade.

• Magic Number: All trades opened by the EA must be tagged with a unique "Magic Number" so they don't interfere with manual trades or other running bots.

• Multi-Asset Support: The EA must work flawlessly across different instruments like Forex, XAUUSD (Gold), Indices, and Crypto, automatically adjusting for contract sizes, lot steps, and point differences.

• On-Chart Dashboard: A clean, visual panel on the MT5 chart showing real-time stats (Current floating PnL, number of trades today, current spread, Webhook connection status).

5. Notification System

• The EA must send instant Telegram notifications containing trade details (Symbol, Direction, Entry Price, Lot Size, PnL) whenever a trade is opened, a TP level is hit, or the SL is hit.

Note to the Developer: Please let me know which Webhook/Bridge solution you plan to use for this project and provide the exact JSON payload format I will need to paste into my TradingView alert box (e.g., {"action": "buy", "symbol": "XAUUSD"} ).