Automated Forex Trading EA for Scalping with MQL5 Code

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.
– Key indicators:
– EMA (8, 21, 50)
– RSI (14)
– MACD (12, 26, 9)
– Bollinger Bands (20, 2)
– Secondary indicators: Stochastic and ATR.
– Dynamic support/resistance lines: Identified via an automated line marking system as specified.
**Entry Rules**:
– 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.
– Pullbacks to EMA or support/resistance.
**Exit Strategy**:
– Include an 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).
– Time-based exits (max 30 min duration, close before major news).
**Risk Management Rules**:
– Apply risk management rules for position sizing based on:
– 1% account risk adjusted by ATR volatility and signal strength multiplier.
– Daily loss limits.
– Consecutive loss tracking with position size reduction.
**Market Session Optimizations**:
– Trade mainly during London and New York sessions.
– Avoid trading around major news.
– 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: Dynamic support/resistance lines based on touch count, reaction strength, recency, and volume criteria.
3. Indicator calculations: EMA, RSI, MACD, Bollinger Bands, Stochastic, ATR.
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.
**Code Guidelines**:
– Keep the code clear and modular for ease of future enhancements.
– 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.
– 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.