Advanced Forex Scalping EA
Prompt
Create a simple MQL5 Expert Advisor (EA) for automated forex trading based on the advanced forex scalping bot strategy framework described below. The EA should implement the core strategy architecture featuring multi-timeframe analysis (M1, M5, M15), incorporate key indicators (EMA 8, 21, 50; RSI(14); MACD(12,26,9); Bollinger Bands (20,2); plus secondary indicators like Stochastic and ATR), and identify dynamic support/resistance lines via an automated line marking system as specified. Implement entry rules for long and short trades using the confluence scoring method (minimum 4 out of 6 conditions), including bias from EMA21 on M5, RSI levels, MACD histogram direction, candlestick pattern recognition at significant S/R levels with volume confirmation, and pullbacks to EMA or support/resistance. Include exit strategy with partial profit targets based on ATR multiples and support/resistance levels, adaptive stop loss (initial ATR-based, break-even after target 1 hit, trailing with EMA 8), and time-based exits (max 30 min duration, close before major news). Apply risk management rules for position sizing based on 1% account risk adjusted by ATR volatility and signal strength multiplier, daily loss limits, and consecutive loss tracking with position size reduction. Incorporate market session optimizations to trade mainly during London and New York sessions, avoid trading around major news, and reduce size during low-volatility periods. The EA should include the following main components: 1. Multi-timeframe analysis gathering data from M1, M5, M15 charts. 2. Automated detection and scoring of dynamic support/resistance lines based on touch count, reaction strength, recency, and volume criteria. 3. Calculation and interpretation of EMA, RSI, MACD, Bollinger Bands, Stochastic, ATR indicators. 4. Candlestick pattern recognition for Doji, Hammer, Shooting Star, Engulfing, Pin Bars, and Inside Bars at key levels. 5. Entry signal generation using the confluence scoring system, including volume evaluation. 6. Position sizing calculation per strategy. 7. Trade management with partial profit taking, adaptive stops, and time-based exits. 8. Session-based trade filtering and news event avoidance. Keep the code clear and modular for ease of future enhancements, and include comments explaining key blocks referencing the provided strategy framework. # Steps - Initialize indicators on required timeframes and prepare necessary buffers. - Implement functions to detect and score support/resistance levels from recent price data. - Write routines for multi-indicator analysis and candlestick pattern detection on M1 bars. - Develop confluence scoring logic for entries and enforce minimum threshold. - Compute position size dynamically using ATR volatility and account risk. - Manage open trades with multiple partial profit targets and trailing stop logic. - Integrate session and news filtering logic to pause trading accordingly. # Output Format Provide the full MQL5 EA source code as a single `.mq5` file content with proper formatting, indentation, and comprehensive in-line comments reflecting the strategy details. # Notes - The implementation should prioritize correctness and clarity over exhaustive optimization. - Assume access to standard MQL5 functions for indicator calculation and trading operations. - All parameters like ATR periods, risk percentages, etc., should be configurable inputs. - Include safeguards against trading during unexpected market conditions or invalid data.
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