General description
Name: OUR EA
Platform: MetaTrader 5 (MT5)
Type: Multi‑symbol, multi‑timeframe, CE‑based trading engine
Core indicator: Chandelier Exit (CE), user‑configurable
Primary style: Scalping and intraday, with support for other timeframes
Trade directions: Long and short
Assets: Any (FX, metals, indices, crypto), no hardcoded symbol
Inputs (external parameters)
General:
Symbol/Timeframe:
UseCurrentSymbol = true/false
CustomSymbol = "XAUUSD" (used if UseCurrentSymbol = false)
EA always uses the chart timeframe (no override needed).
Trading directions:
TradeLongs = true/false
TradeShorts = true/false
Risk & lots:
UseAutoLot = true/false
FixedLot = 0.01
RiskPerTradePercent = 1.0 (used if UseAutoLot = true)
Magic & ID:
MagicMode = Auto/Manual
MagicNumber = 123456 (used if Manual)
Chandelier Exit (CE):
CE_ATR_Period = 7
CE_ATR_Multiplier = 1.0
CE_Mode = Manual (future‑proof: could add Auto later)
Entry logic mode:
EntryMode = 0/1/2
0 = CE_Breakout (simple single‑entry mode)
1 = CE_Band_3Entry (Dark Band‑style, 3 entries)
2 = CE_Pullback (reserved for future)
For now, we define 0 and 1 fully.
Band / 3‑entry settings (for EntryMode = 1):
Use3Entries = true/false (if false, only Entry 1 is used)
Entry distance from CE (in points):
Entry1_OffsetPoints = 0      (at/just above/below CE)
Entry2_OffsetPoints = 200    (20 pips equivalent on 1‑digit gold, adjust by broker)
Entry3_OffsetPoints = 400
Stop loss buffers (in points):
SL1_BufferPoints = 200
SL2_BufferPoints = 400
SL3_BufferPoints = 600
Take profit:
UseSharedTP = true/false
TP_RR_Multiplier_Entry1 = 1.2
TP_RR_Multiplier_Entry2 = 1.2
TP_RR_Multiplier_Entry3 = 1.2
If UseSharedTP = true, TP is calculated per entry using its own RR multiplier.
Execution & filters:
MaxSpreadPoints = 300 (e.g. 3.0 pips on gold; user adjusts per symbol)
MaxSlippagePoints = 100
UseSessionFilter = true/false
SessionStartHour = 7 (broker time)
SessionEndHour = 22
CooldownCandlesAfterLoss = 5
MaxTradesPerDirection = 3 (for 3‑entry mode)
Indicator logic — Chandelier Exit (CE)
On each tick, for the current symbol/timeframe:
ATR calculation:
ATR = AverageTrueRange(CE_ATR_Period)
Highest high / lowest low over ATR period:
HH = HighestHigh(CE_ATR_Period)
LL = LowestLow(CE_ATR_Period)
CE lines:
Long CE (upper line):
CE_ Long=HH-ATR\times CE_ ATR_ Multiplier- Short CE (lower line):
CE_ Short=LL+ATR\times CE_ ATR_ Multiplier
For simplicity, EA can use a single CE line depending on direction:
For BUY logic: use CE_Long
For SELL logic: use CE_Short
Store at least CE[0] and CE[1] (current and previous).
Entry logic
4.1. Common pre‑conditions (all modes)
Before any entry:
Spread ≤ MaxSpreadPoints
If UseSessionFilter = true: current broker hour ∈ [SessionStartHour, SessionEndHour]
No more than MaxTradesPerDirection open for this MagicNumber and symbol
Cooldown: if last closed trade was a loss, ensure at least CooldownCandlesAfterLoss bars have passed
4.2. Mode 0 — CE_Breakout (single entry)
BUY conditions:
TradeLongs = true
Close[1] <= CE_Long[1]
Close[0] > CE_Long[0]
CE_Long[0] > CE_Long[1] (CE rising)
SELL conditions:
TradeShorts = true
Close[1] >= CE_Short[1]
Close[0] < CE_Short[0]
CE_Short[0] < CE_Short[1] (CE falling)
SL/TP (single entry):
For BUY:
SL = CE_Long[0] - SL1_BufferPoints
If UseAutoLot = true, lot size based on SL distance and RiskPerTradePercent
TP = EntryPrice + (EntryPrice - SL) * TP_RR_Multiplier_Entry1
For SELL:
SL = CE_Short[0] + SL1_BufferPoints
TP = EntryPrice - (SL - EntryPrice) * TP_RR_Multiplier_Entry1
4.3. Mode 1 — CE_Band_3Entry (Dark Band‑style)
Trend filter (common for all 3 entries):
BUY trend:
CE_Long[0] > CE_Long[1] (rising)
Close[0] >= CE_Long[0] (price at or above CE)
SELL trend:
CE_Short[0] < CE_Short[1] (falling)
Close[0] <= CE_Short[0] (price at or below CE)
BUY entries (up to 3)
Define CE reference: CE = CE_Long[0].
Entry 1 (E1 BUY):
Trigger:
Close[0] > CE + Entry1_OffsetPoints
Trend filter satisfied
SL: SL1 = CE - SL1_BufferPoints
TP:
If UseSharedTP = true:
TP1 = EntryPrice + (EntryPrice - SL1) * TP_RR_Multiplier_Entry1
Entry 2 (E2 BUY):
Trigger (only if E1 is open or allowed):
Price touches/pulls back near CE:
Bid <= CE + Entry2_OffsetPoints
Trend filter still valid
SL: SL2 = CE - SL2_BufferPoints
TP: TP2 similar to E1 with its own RR
Entry 3 (E3 BUY):
Trigger:
Deeper pullback: Bid <= CE + Entry3_OffsetPoints
Trend filter still valid
SL: SL3 = CE - SL3_BufferPoints
TP: TP3 with its own RR
Entries can be opened independently as conditions are met, up to MaxTradesPerDirection.
SELL entries (up to 3)
Define CE reference: CE = CE_Short[0].
Entry 1 (E1 SELL):
Trigger:
Close[0] < CE - Entry1_OffsetPoints
Trend filter satisfied
SL: SL1 = CE + SL1_BufferPoints
TP: TP1 = EntryPrice - (SL1 - EntryPrice) * TP_RR_Multiplier_Entry1
Entry 2 (E2 SELL):
Trigger:
Ask >= CE - Entry2_OffsetPoints
Trend filter still valid
SL: SL2 = CE + SL2_BufferPoints
TP: TP2 similar to above
Entry 3 (E3 SELL):
Trigger:
Ask >= CE - Entry3_OffsetPoints
Trend filter still valid
SL: SL3 = CE + SL3_BufferPoints
TP: TP3 with its own RR
Exit logic
Hard exits:
TP hit
SL hit
Soft exits (optional but recommended):
For BUY trades:
If CE_Long[0] < CE_Long[1] (CE starts falling)
OR Close[0] < CE_Long[0] (price closes below CE)
→ Close BUY trade(s) at market.
For SELL trades:
If CE_Short[0] > CE_Short[1] (CE starts rising)
OR Close[0] > CE_Short[0]
→ Close SELL trade(s) at market.
Time‑based exit (optional):
If a trade is open longer than MaxBarsInTrade (e.g. 60 bars) and not at TP/SL → close at market.
MaxBarsInTrade can be an input (default 0 = disabled).
Risk management
If UseAutoLot = true:
For each new trade:
Calculate SL distance in points: SL_DistPoints = abs(EntryPrice - SL) / Point
Convert to money risk:
RiskMoney=AccountEquity\times \frac{RiskPerTradePercent}{100}- Lot size:
Lots=\frac{RiskMoney}{SL_ DistPoints\times TickValue}- Ensure Lots is within broker min/max and step.
If UseAutoLot = false, use FixedLot.
Trade management rules
EA tracks trades by MagicNumber and Symbol.
MaxTradesPerDirection limits how many BUY or SELL trades can be open at once.
No hedging logic required beyond that; BUY and SELL can coexist if allowed by broker, unless you want to restrict (coder can add AllowHedge = true/false if needed).
Pseudocode outline (high level)
On each tick:
If UseCurrentSymbol = true → use chart symbol, else CustomSymbol.
Read CE values (CE_Long[0/1], CE_Short[0/1]).
Check spread, session, cooldown.
Count open BUY/SELL trades for this MagicNumber & symbol.
If EntryMode == 0 → evaluate CE_Breakout rules.
If EntryMode == 1 → evaluate CE_Band_3Entry rules for BUY and SELL.
For each open trade:
Check SL/TP (MT5 handles automatically if set).
Check soft exit conditions (CE flip, time‑based).
Apply risk logic when opening new trades.