MQL5 EA based on Automated Trade closures and re-entries at specific levels

Objective:
Create a MetaTrader 5 (MT5) Expert Advisor (EA) that acts as a protective shield for manually placed trades. The EA will manage open trades based on strict price movement rules, ensuring minimal losses and precise re-entries.

Core Logic Overview

1. Manual Trade Anchoring

• Bot only activates after a manual trade is opened.

• Uses the original manual entry price as the anchor.

• Anchor price never changes unless a new manual trade is opened.

• One active trade per symbol (per currency pair) at a time.

2. Trade Closing Logic

• If price moves against the trade by 3 pips from the anchor, bot must close the trade immediately.

• Precise closure rules:

  • BUY trade: Close if price drops 3 pips below entry.

  • SELL trade: Close if price rises 3 pips above entry.

• Closure must happen exactly at 3 pips.

3. Re-Entry Logic

• After closing a trade, bot waits for price to cross back favourably through the original entry price.

• Re-entry conditions:

  • BUY trade: Reopen if price crosses 2 pips above the original entry price.

  • SELL trade: Reopen if price crosses 2 pips below the original entry price.

• Reopened trades must use the same lot size as the original manual trade.

4. One Trade Per Currency Pair

• Bot must only manage one active trade per currency pair.

• Multiple pairs can be managed independently.

5. Passive Mode if Price Moves Away

• If price moves further away from the entry after closure, bot does nothing.

• Bot will only react again if price returns to entry level.

• Bot remains passive until:

  • Price crosses the re-entry level.

  • Or a new manual trade is opened (resets anchor).

6. 24/7 Auto Operation

• Bot operates continuously without manual interaction.

• Must react instantly even during high volatility or fast price movements.

7. Take Profit Respect

• After re-opening a trade, bot must assign the same Take Profit (TP) as the original manual trade.

• TP must always be preserved for all re-entries.

8. Graphical User Interface (GUI) Panel

• Display real-time status per currency pair:

  • If trade is active and in profit: "Trade in Profit"

  • If trade was closed and waiting for re-entry: "Trade Closed, Waiting for Re-Entry"

  • If no manual trade yet: "Waiting for Manual Entry"

• Display status for multiple pairs independently:

  • Example:

    • EURUSD: Trade in Profit

    • XAUUSD: Waiting for Re-Entry

9. Chart Visuals

• White dotted line at the anchor (entry) price when manual trade is opened.

• Red line at stop-loss level (closure trigger):

  • BUY trade: 3 pips below entry.

  • SELL trade: 3 pips above entry.

• Blue line at re-entry level:

  • BUY trade: 2 pips below original entry.

  • SELL trade: 2 pips above original entry.

10. Sound Alerts

• Play a sound (" operationinicialized.wav ") every time a manual trade is opened.

11. Post Take Profit Behavior

• After hitting Take Profit, bot must:

  • Shut off management for that symbol.

  • Wait for the next new manual trade to reset and restart.