EA for Price Reversal Strategy at Support and Resistance Levels

1) Briefing

EA for Price Reversal Strategy at Support and Resistance Levels.

2) Objective

Automate and validate a price reversal trading strategy triggered upon contact with support/resistance levels, entering against the prevailing movement that led the price to the level.

3) Instruments and Platform

- Instruments: FOREX, US500, Mini Index Brazil (WIN), Mini Dollar Brazil (WDO), or any other configurable asset;

- Timeframe: M1 (or user-configurable);

- Platform: MetaTrader 5 (MT5);

- Order Type: Pending Buy/Sell Limit orders with predefined Stop Loss (SL) and Take Profit (TP) levels.

4) EA Configurable Parameters

List of parameters:

- maxTradesPerDay, maxResultPerDay, maxRiskPerDay, startHour/endHour, Opening Hour, Normal Hour, Closing Hour,

- Date/Time excluding, Entry Offset (EOff), SL Offset (SLOff), TP Offset (TPOff),

- S/R discard Opening, S/R discard Normal, S/R discard Closing,

- Lots Reference (LRef), Minimum Amplitude (AmpMin), Maximum Amplitude (AmpMax), Amplitude Adjustment (AmpAdj),

- Level (x), TrailingStop.

- TP, SL.

5) Amplitude and Reference Day (DRef) Calculation

Rules to select the correct DRef and adjust amplitude if needed.

6) Support and Resistance Levels

Calculation of support and resistance levels based on DRef and amplitude.

7) Buy Logic

Detailed buy entry, exit, and lot sizing logic depending on the trading session and trade history.

8) Sell Logic

Detailed sell entry, exit, and lot sizing logic depending on the trading session and trade history.

9) Risk and Session Management

Rules to control trading hours, manage open positions, and suspend trading.

10) Logging Requirements

Record trades with amplitude, entry price, SL, TP, direction (buy/sell), result (profit/loss), and Period (Opening, Normal or Closing).

11) On-Screen Panel Requirements

Display:

• Status display: Active / Inactive;
• Number of trades executed;
• Number of SL’s and TP’s reached;
• Number of trades executed on Opening Hour;
• Number of trades executed on Normal Hour;
• Number of trades executed on Closing Hour;
• Cumulative profit/loss.

12) Final Considerations

EA must work seamlessly on demo and live accounts, with well-commented code.

13) Deliverables

- Compiled .ex5 file

- Source code (.mq5) if feasible

- Installation and usage manual.