Specification
I am seeking the development of a custom, non-repainting technical indicator for use in the forex market, specifically designed to integrate seamlessly with a trading robot (Expert Advisor) on the MetaTrader 5 (MT5) platform. The indicator should combine both trend and momentum analysis to generate high-quality buy and sell signals for automated trading strategies. It must work efficiently across major forex pairs, particularly on 15-minute, 1-hour, and 4-hour timeframes.
The logic of the indicator is as follows: a buy signal should be generated when the current price is above a 50-period moving average (to confirm an uptrend) and the Relative Strength Index (RSI), using a 14-period setting, crosses above the oversold threshold (default level of 30). A sell signal should be generated when the price is below the 50-period moving average and the RSI crosses below the overbought level (default level of 70). These conditions will serve as the basis for the entry logic used by the trading robot.
The indicator must include buffer outputs for both buy and sell signals, which can be easily accessed by the EA. Specifically, the buffers should return a value of 1 for a buy signal and -1 for a sell signal, with 0 indicating no signal. These signals should also be visually represented on the chart with arrows or custom markers. Additionally, the indicator must not repaint or recalculate past signals, and it should perform efficiently to support fast and stable execution within a trading robot.
The developer should provide clear documentation, including the indicator name, buffer index numbers, and any input parameters used. The source file in .mq5 format must be delivered, with well-commented code for future customization or integration. While optional, it would be appreciated if the indicator includes a toggleable alert system (pop-up or sound) and support for multi-timeframe confirmation. The final product must be compatible with the MT5 Strategy Tester and optimized for low resource consumption.