📘 Expert Advisor (EA) Development - Daily Bias Breakout EA

📘 Expert Advisor (EA) Development Brief: Daily Bias Breakout EA

📌 Core Strategy Overview

Develop an EA for MetaTrader 5 (MT5) that:

• Determines market bias using the previous daily candle.

• Sets a configurable time window (e.g., 7:00 AM – 10:00 AM EST) to define the range (high/low).

• Executes a Buy Stop or Sell Stop at the breakout of this range based on the bias.

• Includes risk-based lot sizing, re-entry logic, and a real-time dashboard.

🔁 Daily Workflow Summary

1. At start of each new day:

   • Detect the previous day's daily candle bias:

     • Bullish if Close > Open .

     • Bearish if Close < Open .

     • No trade if Close == Open .

2. During configurable window (e.g., 7:00 AM – 10:00 AM EST):

   • Mark the High and Low of candles within this period.

   • Wait until the end of the window (e.g., 10:00 AM).

   • Based on the daily bias:

     • If bullish → place Buy Stop at the high.

     • If bearish → place Sell Stop at the low.

   • Stop Loss (SL): Opposite end of range.

   • Take Profit (TP): Based on Risk: Reward (e.g., 1:2, 1:3) — configurable.

3. If SL is hit:

   • Re-entry is triggered after delay (e.g., 30 sec, 1 min, 5 min — configurable).

   • Re-entry uses same entry, SL, TP.

   • Optional: Reduce lot size on each retry.

   • Limit number of re-tries — configurable.

⚙️ Configurable Inputs

🔐 Risk Management

• Only one trade per day (excluding re-entries).

• Re-entries are independent and tracked separately.

• Trade is only executed if spread ≤ MaxSpread.

• All instruments supported: Gold, US30, EURUSD, BTCUSD, etc.

🧾 Dashboard Requirements

Real-time panel showing:

• Current New York, London, Broker server time

• Detected daily bias (Bullish/Bearish/None)

• Trading window selected and its converted broker time range

🧠 Logic Notes

• EA should handle automatic time zone conversion internally.

• Developer must:

  • Focus on reliability and accuracy of time calculations and range marking.

  • Use robust SL/TP logic.

• Trade logic must be server time agnostic (i.e., convert user time window to server time dynamically).

🧪 Testing and Delivery

• EA must be fully tested in both Strategy Tester and forward demo.

• Developer is responsible for all QA testing before delivery.

• I (the client) will test for 3 weeks in live market before final acceptance, error restarts this.

• Final delivery includes:

  • Compiled .ex5 file

  • Source code (.mq5)

  • Brief documentation of logic and settings

📝 Naming Suggestion

"Daily Bias Range Breakout EA"
Short name: DBRB-EA