Requirements for programming a custom Expert Advisor (EA) for MetaTrader 5 (MT5)
Summary: The following requirements describe the features and functionalities that the custom Expert Advisor for MT5 should have, including integration of functions from the POW Banker EA, trade closure options, filter and signal configuration, control panel, and specific protections.
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Integration of functions from the POW Banker EA: a. Download and analyze the POW Banker EA provided in the link: https://drive.google.com/file/d/1-QDGCPIGBZekx9fEZWIGIZrLC-AX1BFt/view?usp=sharing b. Incorporate all existing functions of the POW Banker EA into the custom Expert Advisor for MT5.
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Trade closure options: a. Allow the selection of criteria for closing trades, including EMA, RSI, ADX, TP, Trailing Profit, SL, and EP. b. Example configuration: Open a trade when the EMAs of 9-21-55 on M30 are aligned and close trades when the RSI of H1 reaches the value of 70.
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Filter and signal configuration: a. Allow the use of parameters as filters or signals, independently. b. Example configuration: Use the aligned EMAs of M30 4-8-60 as a filter and the entry when the 8 EMA crosses the 60 EMA as a signal.
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Control panel: a. Include a control panel similar to the one in the POW Banker EA, accessible from the MT5 platform.
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Specific protections: a. Set daily EP limits: Stop the EA until the next day if the limit is reached. b. Set daily profit limits: Stop the EA until the next day if the limit is reached. c. Set total account balance limits: Stop the EA and close all open trades if a specific profit target is reached (applicable to challenges).
Additional notes:
- Ensure compatibility of the custom Expert Advisor with the MetaTrader 5 platform.
- Perform tests on demo accounts to verify the functionality and performance of the EA before implementing it in real accounts.
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