XAUUSD M5 8:00 IST Two-Candle Breakout EA (1:2 RR, 2nd Entry Logic, Risk % Position Sizing) – MQL5 Expert Advisor Needed

1. Strategy Overview

I need an MQL5 Expert Advisor that trades once per day based on a 2-candle combination zone formed at 8:00 AM IST.

The EA must detect the correct server time equivalent of IST and work on any MT5 broker (Exness).

2. Combination Zone Logic

At 08:00 IST, the EA must:

1. Take the first M5 candle starting at 08:00.

2. Take the next M5 candle (08:05).

3. These two candles form the Combination Zone:

comb_high = max(high of both candles)

comb_low  = min(low of both candles)

• Ideally candles should be Green → Red or Red → Green.

• If they are same color, still use these two candles as the combination zone.

• Only one combination per day.
  
  

3. Trade Entry Rules

LONG Entry

• Trigger: price breaks above comb_high

• Order type: Market Buy

• Stop Loss = comb_low

• Take Profit = EntryPrice + 2 × (EntryPrice - comb_low)

  (1:2 Risk-Reward)

SHORT Entry

• Trigger: price breaks below comb_low

• Order type: Market Sell

• Stop Loss = comb_high

• Take Profit = EntryPrice - 2 × (comb_high - EntryPrice)
  
  

4. Trade Sequencing (Very Important)

First Entry

• EA enters first breakout trade (long or short).

If FIRST trade hits TP

• Stop trading for the rest of the day.

• No second entry.

If FIRST trade hits SL

• EA must allow ONE MORE trade (second entry).

• Second entry follows same breakout rules.

• After second entry closes (TP/SL) → stop for the day.
  
  

5. Position Sizing (Risk % Based)

Lot size must be calculated using 1% or 2% risk of account balance:

stopDistance = comb_high - comb_low

riskAmount = Balance × Risk%

lot = riskAmount / (stopDistance × valuePerPointPerLot)

EA must:

• Detect broker min / max lot

• Respect lot step

• Skip trade if lot < min lot

• Include a max lot input cap (user adjustable)
  
  

6. Filters & Safety Rules

• Do NOT trade if spread > user input (e.g., 50 points).

• Avoid duplicate trades on restart — use persistent variables or OnTradeTransaction tracking.

• EA must handle restarts without forgetting:

  • combination zone

  • whether first trade was taken

  • whether second entry is allowed

• EA must prevent more than 2 trades per day.
  
  

7. Time Handling

EA must reliably detect 08:00 IST, even if the broker server uses a different timezone.

Acceptable solutions:

• Auto-detect using TimeLocal (if VPS is IST), OR

• Input parameter: “Server hour equivalent of 8:00 IST”.

Either method is fine; the EA must work correctly.

8. Inputs Required

• Symbol

• Risk Percent (1% or 2%)

• Max Lot Cap

• Spread Filter

• Slippage (Deviation)

• Magic Number

• Enable/Disable 2nd Entry

• Server Start Hour (if not auto-detected)
  
  

9. Deliverables

• Fully working .mq5 + .ex5

• Clear, commented source code

• Clean input menu

• One backtest showing logic from any date range

• 7–14 days bug-fix / correction support
  
  

10. Acceptance Criteria

The EA is considered complete when:

1. Combination candles at 8:00 IST are detected correctly.

2. Breakout entries occur exactly as per rules.

3. First trade hits TP → no more trades that day.

4. First trade hits SL → second entry allowed.

5. Lot size matches the risk % position sizing formula.

6. EA works after MT5 restarts with no duplicate trades.

7. Backtest examples for:

   • 2025-Sep-24 to 2025-Nov-18