Expert Advisor Development for Trend-Following Strategy with Advanced Trade Management

Description:

I am seeking an experienced MQL5 developer to create a custom Expert Advisor (EA) for MetaTrader 5 based on a specific trend-following strategy. The strategy includes precise risk management, advanced trade management features, and additional risk management tools. The EA should be adaptable to any timeframe on which it is attached.


Below are the detailed requirements and parameters for the EA:

Strategy Overview:

1. Moving Averages for Trend Identification

• Indicator: Exponential Moving Averages (EMA)
• Parameters:
  • Fast EMA: 144-period EMA
  • Slow EMA: 169-period EMA
• Logic:
  • Buy Signal: When the 144 EMA crosses above the 169 EMA.
  • Sell Signal: When the 144 EMA crosses below the 169 EMA.

2. Exit Criteria:

• Stop Loss (SL) Placement:

  • For Buy Trades: Place the SL exactly at the most recent swing low (In the same current timeframe).
  • For Sell Trades: Place the SL exactly at the most recent swing high (In the same current timeframe).
    
    
    

• Take Profit (TP):

  • Initial TP: Set the TP at a 1:2 Risk-Reward Ratio (R).
  • Example:
    • If the SL is 10 pips away from the entry point, the initial TP should be set at 20 pips away.
      
      

• Trailing Take Profit (TP):

  • Trigger: The trailing TP kicks in when the trade reaches a profit of 1:1 R
    .
  • Process:
    • Once the trade reaches a 1:1 R
      (e.g., 10 pips profit if the SL is 10 pips), move the SL to the entry price (break-even).
    • Adjust the TP to the 1:2 R
      level if it isn’t already there (e.g., 20 pips away from the entry).

3. Trade Management:

• Simultaneous Trades:
  • If a buy trade has been triggered but has not yet reached TP, a sell trade can still be opened if the sell entry criteria are met.
  • Similarly, if the buy criteria are met again, a second buy trade will be triggered even if the first buy trade has not closed yet.

4. Example Workflow:

• Buy Trade Example:

  • Entry: Enter a buy trade when the 144 EMA crosses above the 169 EMA.
  • SL: Place the SL exactly at the most recent swing low (e.g., 10 pips below the entry price).
  • Initial TP: Set TP 20 pips above the entry (1:2 R).
  • When the price reaches 10 pips profit (1:1 R):
    • Move SL to the entry price (break-even).
    • Keep TP at 20 pips to maintain the 1:2 R target.
  • Second Buy Trade: If the buy criteria are met again before the first buy trade reaches TP, a second buy trade is triggered with the same parameters.
    
    

• Sell Trade Example:

  • Entry: Enter a sell trade when the 144 EMA crosses below the 169 EMA.
  • SL: Place the SL exactly at the most recent swing high (e.g., 10 pips above the entry price).
  • Initial TP: Set TP 20 pips below the entry (1:2 R).
    
  • When the price reaches 10 pips profit (1:1 R):
    • Move SL to the entry price (break-even).
    • Keep TP at 20 pips to maintain the 1:2 R
      target.
  • Second Sell Trade: If the sell criteria are met again before the first sell trade reaches TP, a second sell trade is triggered with the same parameters.

5. Additional Features:

• News Filter (Forexfactory calendar):

  • Optional: Implement a news filter to avoid entering trades during high-impact news events that could lead to unpredictable price movements.

• Trade/Risk Management:

• Position Sizing: Fixed percentage risk per trade (e.g., 0.5-1% of account balance).