METATRADER 5 EXPERT ADVISOR (.mq5 file) FOR TRADING IN HEDGE ACCOUNT




SCOPE


* The EA must be delivered in .mq5 file format to be compiled by the end user.
* It may support only the following MT5 indicators: AMA, VIDYA, SMA, EMA. Up to three indicators on the same chart.
* The main strategy to be used is: 
   * MEAN REGRESSION - opening a position against the trend when a customized spread in pips is reached between MA indicator and last tick value. 
* It should allow only long positions OR only short positions OR both.
* It must have different parameters for long and short positions.
* It must be able to make incremental entries at loss as the deviation from MA or from the opening tick increases.
* Besides a fixed amount of pips, a customized spread between MA and last tick must be used as a trailing stop, both a positive and a negative value should be supported.
* It must have a “trade pausing” parameter (in seconds) after a trade loss or gain. 
* It must have time parameters for starting the trades, prohibiting new entries and closing all open positions.
* It must be capable of inhibiting new entries previously to “red” or “yellow” economic data release in the MT5 calendar for a given country. Time before and after data release should be entered. Nevertheless, news should be ignored by default. 
* It must have the option to not open more than one position on the same candle. That is, once set, it should wait for a new candle opening before initiating a new position disregarding if trade conditions have already been met.
* It must plot the line(s) for the indicator(s) in use on the chart.
* It must show a dashboard displaying the following features:
   * magic number
   * setup name
   * position side, size and profit/loss on the current trade
   * if the EA is on hold and time until its release
   * the balance of all trades in the session
   * sum of all entries and exits of the current session
   * the spread between the last tick and the MA indicator in use
   * time in seconds until next candle opening
   * button for closing all open positions
   * button ON/OFF
   * if possible, add an incremental/decremental field for next position size
* It must have the following parameters:
   * chart timeframe
   * inhibiting trades before red and yellow economic data release
      * select countries (only the three bellow)
         * Brazil
         * USA
         * EU
      * select relevance of data releases
         * only red data releases
         * both, red and yellow data releases
      * times
         * time before data release for prohibiting new entries
         * time before data release for closing all open positions
         * time after data release to start allowing new entries
   * allow more than one entry per candle
      * default: prohibit
   * trading times 
      * starting
      * stopping
      * shut down
   * order type
      * at market
      * OR fixed price
   * order clearing
      * FOK
   * order expiration time in seconds
   * positions allowed
      * long 
      * short
      * both
   * MA of choice
      * setup values for the supported MAs (AMA, VIDYA, SMA, EMA) and “reset to default values” option
      * should support up to three MAs at the same time
   * position settings (long and short apart)
      * position size
      * entry and exit signals
         * customized buying and selling signals by using variables and operators (described later)
            * Ex. (buy when:) ama1[0] - tl (tick last) >=  pA( pips variable A) && (and) tl (tick last) < cl[1] (candle low from previous bar) || (or) tl < cB (currency variable B) 
         * customized closing signal also by using variables and operators
            * Ex. (close when:) ama1[0] - tl (tick last) < pC (pips variable C) && (and) tl (tick last) > op (open position price) || (or) ama1[0] - tl (tick last) >= pB (pips variable B)
         * stop loss by using one of the currency or pips variables
         * target price  by using one of the currency or pips variables
         * trailing stop 
            * in pips or currency variables
               * starting point from position entry
               * spread in pips variable
            * OR spread between MA and last tick, in pips variable (should support negative value)
               * input pips variable 
         * break even
            * in pips variable
               * trigger
               * stop 
         * hold trades after a loss (in seconds)
         * hold trades after a gain (in seconds)
         * make new entries to current position at loss (up to six entries)
            * for each entry:
               * set volume
               * input pips variable for spread from entry tick
               * OR input pips variable for spread from MA[n]
   * variables inputs
      * in pips, ten of each
      * in currency, five of each
   * balance targets
      * Maximum balance loss for the day, in currency variable
      * Target balance gain for the day, in currency variable
   * backtest
      * account initial budget setting
      * option of withdrawing all gains that exceed initial budget 
      * option of stop testing if account gets depleted






VARIABLES
* MT5 indicators (the four MAs up three of each): ama1[n], ama2[n], ama3[n], sma1[n], sma2[n]...
* open position tick: op
* tick last: tl
* tick bid: tb
* tick ask: ta
* ten variables for pips: pA, pB…pJ
* five variables for currency: cA, cB…cE
* candle low: cl[n]
* candle high: ch[n]
* candle open: co[n]
* candle close: cc[n]
* candle length: clength[n]


OPERATORS
* percent: %
* divide: /
* multiply: *
* add: +
* subtract: -
* major: >
* minor: <
* major or equal: >=
* minor or equal: <=
* equal: =
* different: !=
* logical operator AND: &&
* logical operator OR: ||