Analyze and Develop a Similar Expert Advisor (EA) for MT5

I am interested in developing a custom Expert Advisor (EA) similar to the following MQL5 product:

Reference EA: https://www.mql5.com/en/market/product/199258

Project Requirements

Before starting development, I want you to carefully study and analyze the reference EA in detail. Please examine its available description, trading strategy, entry and exit logic, risk management, position management, trading behavior, and other publicly available information to understand how it works.

First, I would like you to provide a detailed analysis of the strategy and explain how we can develop a similar EA with comparable functionality and performance. Please do not start coding until we have discussed and agreed on the strategy and requirements.

The EA should ideally include the following features:

1. Entry and exit logic similar to the reference EA, based on the strategy we agree upon.

2. Configurable stop-loss and take-profit settings.

3. Break-even functionality to protect profits.

4. Normal trailing stop and smart trailing stop options.

5. Adjustable lot size and risk management settings.

6. Maximum open positions and maximum daily trade limits.

7. Spread and slippage filters.

8. Trading session and news filters, if applicable to the strategy.

9. Magic number and other essential user-configurable inputs.

10. Efficient trade execution, with proper error handling and broker compatibility.

Important Points

• Please analyze the reference EA thoroughly before proposing the development approach.

• Explain the strategy in simple English, including how trades are opened, managed, and closed.

• Identify any potential risks, limitations, and weaknesses in the strategy.

• Discuss whether the strategy is suitable for real-market trading, particularly on raw ECN accounts.

• Do not promise guaranteed profits. I want a realistic strategy that can be tested properly.

• The EA must be developed in native MQL5 for MT5.

• I require both the compiled .ex5 file and the complete .mq5 source code upon delivery.

• The final EA should be tested using historical backtesting, real-tick data where available, and demo forward testing before live deployment.

Expected Workflow

Step 1: Analyze the reference EA and its publicly available information.

Step 2: Share your findings and proposed strategy with me.

Step 3: Discuss and finalize the entry logic, exit logic, risk management, and all input parameters.

Step 4: Develop the EA according to the agreed specifications.

Step 5: Backtest, optimize carefully, and forward-test the EA on a demo account.

Step 6: Deliver the complete source code, compiled file, and test reports.

Please let me know whether you can perform this analysis first and discuss the strategy with me before beginning development. My priority is to understand the trading logic and develop a reliable EA, rather than rushing into coding.

Important Note: Leverage must be  1:1000 for back testing on H1 time frame.