AN EA BASED ON UT-BOT-ALERT LOGIC

An MT5 Expert Advisor that implements UT-Bot ATR trailing logic, flips position on opposite signals (close buy when sell appears, close sell when buy appears), and adds multi-layer filters, trend confirmation, risk management, and robustness features so it performs well on volatile pairs XAUUSD and BTCUSD.

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1 — Core design & signal rules

• Trail calculation (internal, no external indicator required):

  • ATR-based trailing line (UT Bot style).

  • Inputs: ATR_Period (default 10), ATR_Multiplier (default 2.0).

  • Calculate basic upper/lower, finalUpper/finalLower with persistence, determine trend (UP/DOWN) and trail value.

• Signal (action taken only at bar close):

  • Buy when Close > trail and trend == UP .

  • Sell when Close < trail and trend == DOWN .

• Flip behavior:

  • On opposite signal, always close the current position.

  • If ReverseOnOppSignal == true and filters pass → open the opposite position immediately.

  • If ReverseOnOppSignal == false → close only, do not enter new first.

• Execution moment: Default = act only on new bar (bar-close). Optional intra-bar mode for advanced users (not recommended without careful testing).

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2 — Robust entry filters (all must pass to open new trades)

1. Session filter — TradeStartHour / TradeEndHour (default 03:00–18:00 server time).

2. Spread filter — SymbolInfoInteger(SYMBOL_SPREAD) <= MaxSpreadPoints (default e.g., 30 points; user-configurable).

3. Volatility filter — ATR * point >= MinATRPoints (default 0 to disable; set to avoid ultra-low volatility).

4. Trend confirmation (high-quality filter) — Higher timeframe EMA rule:

   • HTF = H1 (configurable)

   • EMA_fast = 50 (HTF) optional: require EMA50 slope positive for buys, negative for sells.

   • Alternatively, ADX > ADX_Threshold (default 20) for trend strength.

5. Candle body filter — require abs(Close - Open) >= MinBodyPoints to reduce fake signal entries.

6. Daily trade cap / per-symbol cap — MaxTradesPerDay or MaxOpenTrades to limit churn.

7. News filter (optional) — Integrate calendar (or allow developer to provide hook) to block high-impact events.

Important: Filters should not block the mandatory close on opposite signals — close must always be allowed. Filters only stop new entries.

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3 — Trade management & sizing

• Position policy: Single position per symbol (no hedging). Keep track by MagicNumber .

• Lot sizing options (configurable):

  1. Fixed Lot (e.g., 0.02) — simple and safe for small accounts.

  2. Risk % per trade — compute lot from:
     Lot = (AccountBalance * RiskPercent/100) / (StopLossInMoneyPerLot)
     (EA must use instrument contract specifications to compute StopLossInMoneyPerLot precisely).

  3. ATR-scaled lot — scale position size by ATR to keep dollar volatility roughly constant.

• Stop Loss / Take Profit:

  • Primary mode: No fixed SL/TP (UT Bot style) — close on opposite signal.

  • Safety mode: Catastrophic SL (recommended) — attach a hidden SL at CatSL = EntryPrice ± CatSL_ATR_Mult * ATR (default 6×ATR) to prevent extreme losses.

  • Optional: user can enable fixed SL/TP or trailing stop.

• Partial close on flip: Option to partially close (e.g., close 50% when opposite signal, open reverse with remaining size or new sized position).

• Max drawdown safeguard: StopTradingIfDrawdownPercentReached (pauses trading).

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4 — Reliability & edge-case handling

• Bar-close processing (default): check iTime change, then act — prevents repaint/false mid-bar actions.

• Order retries: on trade send/close failure, retry N times with small delays; log errors.

• Trade context busy: loop until free with timeout.

• Slippage tolerance: configurable Slippage .

• Requote handling: avoid infinite loops; fallback to market order attempts.

• Logging & on-chart panel: show trail value, trend, spread, ATR, last action; log to file for analysis.

• Unit tests / debug modes: add DebugMode to simulate entries without placing real trades.

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5 — Inputs to expose to user (recommended defaults)

• MagicNumber = 123456

• Timeframe = PERIOD_M15 (user-selectable; M5/M15/M30 suggested)

• ATR_Period = 10

• ATR_Multiplier = 2.0

• ReverseOnOppSignal = true

• TradeStartHour = 3

• TradeEndHour = 18

• MaxSpreadPoints = 30

• MinATRPoints = 0

• MinBodyPoints = 10 (points; 0 disables)

• UseEMAConfirmation = true

• EMA_HTF = PERIOD_H1

• EMA_Period = 50

• UseADXFilter = false

• ADX_Period = 14

• ADX_Threshold = 20

• Lots = 0.02 (default fixed)

• UseRiskPercent = false

• RiskPercent = 1.0

• UseCatSL = true

• CatSL_ATR_Mult = 6.0

• MaxTradesPerDay = 10

• OneTradePerBar = true

• Slippage = 3

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6 — Recommended parameter sets (starter presets)

A — Conservative (small account / low risk)

• Balance: small (≤ $500)

• Lots = 0.01 or UseRiskPercent = true & RiskPercent = 0.5%

• Timeframe = M15

• ATR_Period = 10 , ATR_Mult = 2.0

• UseEMAConfirmation = true (EMA50 H1)

• UseCatSL = true , CatSL_ATR_Mult = 6

• MaxTradesPerDay = 5

B — Balanced (most traders)

• Balance: ~$1,000–5,000

• UseRiskPercent = true , RiskPercent = 1.0%

• Timeframe = M15 (XAU) / M5–M15 (BTC)

• UseEMAConfirmation = true , ADX_Threshold = 20

• MaxTradesPerDay = 10

C — Aggressive (experienced)

• Balance: > $5,000

• RiskPercent = 1.5–2%

• Timeframe = M5 (more signals)

• ReverseOnOppSignal = true

• EnablePartialCloseOnFlip = true

• MaxTradesPerDay = 20

Note: Always test on demo/live small balance before scaling.

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7 — Backtesting & optimization plan (must be delivered)

1. Historical backtest on both symbols, at least 3–5 years for XAUUSD, 2–3 years for BTCUSD (where data exists).

2. Forward walk-forward testing: optimize on training window, validate on out-of-sample window.

3. Monte Carlo / randomization: test sensitivity to slippage, spread, execution delay, and parameter jitter.

4. Robustness checks: parameter stability, worst-case spread, max slippage, news days.

5. Report to include: net profit, profit factor, max drawdown, CAGR, Sharpe-like measure, total trades, average trade length, win rate, expectancy.

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8 — Acceptance criteria for delivery

1. EA compiles in MetaEditor without errors; source .mq5 + compiled .ex5 provided.

2. Implements UT Bot trail internally (no external indicator dependency).

3. Correct flip behavior: closes opposite trade on opposite signal; opens reverse if ReverseOnOppSignal==true .

4. Filters work as specified and block entries but never block closes.

5. Safety features (CatSL, MaxDrawdownStop) work and are configurable.

6. Works on XAUUSD and BTCUSD out-of-the-box using default presets.

7. Includes basic GUI or logs showing active settings and last signal.

8. Provide test reports: at minimum a backtest summary for each symbol and timeframe used.

9. Provide short user guide (1–2 pages) explaining inputs and presets.

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9 — Deliverables to ask the developer

• Source code .mq5 and compiled .ex5 .

• A 1–2 page PDF user manual with default presets (Conservative, Balanced, Aggressive).

• Backtest result files (strategy tester reports) for XAUUSD and BTCUSD.

• A short video (optional) showing EA loaded and running on demo account for basic verification.

• Support period (e.g., 7–14 days) for bug fixes after delivery.

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10 — Additional advanced ideas (v2+)

• Implement machine-learned filter or pattern recognition for false-signal reduction.

• Add position-scaling (pyramiding) limited to trend strength.

• Integrate news API or timezone-aware economic calendar to pause trading.

• Add correlation filter (avoid trading both XAU and BTC at same time if correlation spikes).

• Implement trade simulator / sandbox mode inside EA.

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11 — Realistic performance expectations

• Win rate typically 60-80% (trend systems vary).

• Profit factor target after optimization: ≥ 1.5 (good), ≥ 2.0 (very good).

• Max drawdown depends on risk settings — keep risk per trade low (≤ 1–1.5%) to maintain acceptable drawdown.

• No guarantee — past backtest performance does not guarantee future live results. Always forward-test.