Overview
This prompt aims to create a comprehensive MQL5 Expert Advisor for advanced forex scalping strategies. Programmers and traders will benefit from the detailed guidance and structured code provided.
Prompt Overview
Purpose: This Expert Advisor (EA) aims to implement an advanced forex scalping strategy for optimized trading performance.
Audience: Designed for forex traders seeking automated solutions to enhance their trading strategies and decision-making.
Distinctive Feature: The EA utilizes multi-timeframe analysis and a confluence scoring system for precise entry and exit signals.
Outcome: Traders can expect improved trade accuracy and risk management through automated detection and scoring of market conditions.
Quick Specs
- Media: Text
- Use case: Generation
- Industry: Consulting (Management, Strategy), Data & Analysis, Development Tools & DevOps
- Techniques: Decomposition, Plan-Then-Solve, Structured Output
- Models: Claude 3.5 Sonnet, Gemini 2.0 Flash, GPT-4o, Llama 3.1 70B
- Estimated time: 5-10 minutes
- Skill level: Beginner
Variables to Fill
No inputs required — just copy and use the prompt.
Example Variables Block
No example values needed for this prompt.
The Prompt
Create a complete MQL5 Expert Advisor (EA) that implements an advanced forex scalping strategy based on the detailed framework provided.
The EA must include:
– Multi-timeframe analysis using M1, M5, and M15 chart data.
– Core indicators:
– EMA (8, 21, 50)
– RSI(14)
– MACD(12, 26, 9)
– Bollinger Bands (20, 2)
– Secondary indicators: Stochastic and ATR.
– Automated detection and scoring of dynamic support/resistance (S/R) lines using criteria such as:
– Touch count
– Reaction strength
– Recency
– Volume.
– Candlestick pattern recognition for patterns including:
– Doji
– Hammer
– Shooting Star
– Engulfing
– Pin Bars
– Inside Bars, particularly at significant S/R levels.
– Entry logic employing a confluence scoring system requiring at least 4 out of 6 conditions met, incorporating:
– EMA21 bias on M5
– RSI thresholds
– MACD histogram direction
– Candlestick patterns with volume confirmation
– Pullbacks to EMA or S/R.
– Exit strategy with:
– 250pt dynamic basket hedge mechanisms for price reversal
– Multiple partial profit targets based on ATR multiples and S/R
– Adaptive stop loss that is initially ATR-based, moved to break-even + 10 pips after the first target
– Trailing stops using EMA8
– Exits, including a 30-minute max closure before major news events.
– Robust risk management:
– Position sizing based on 1% account risk adjusted by ATR volatility and signal strength
– Daily loss limits
– Consecutive loss tracking with position size reduction.
– Session optimization to trade primarily during London and New York sessions, avoid trading around major news events, and reduce size during low-volatility periods.
**Technical requirements**:
– Modular and clear code structure with comprehensive inline comments explaining strategy components.
– Configurable input parameters (e.g., indicator periods, risk percentage).
– Use of standard MQL5 functions for indicators and trading actions.
– Safeguards for invalid market data and unexpected conditions.
– Handling of session-based trade filtering and news event avoidance.
### Steps
1. Initialize indicators on M1, M5, and M15 timeframes.
2. Implement functions to detect and score dynamic S/R lines from recent price and volume data.
3. Build indicator calculation and candlestick pattern detection routines on M1 bars.
4. Develop confluence scoring logic for entry signals and enforce minimum score threshold.
5. Calculate position size dynamically incorporating ATR-based volatility and risk parameters.
6. Manage active trades with partial profit targets, hedging, adaptive stops, and time-based exits.
7. Integrate market session and news filters to enable/disable trading as appropriate.
### Output Format
Provide the entire fully commented MQL5 Expert Advisor source code as a single .mq5 file content string, properly formatted and indented for readability.
### Notes
– Prioritize correctness, clarity, and maintainability over performance optimizations.
– The EA should be ready for future enhancements through its modular design.
– Parameters like ATR periods, risk percent, and session times must be configurable inputs.
– Include error handling to prevent trading in unreliable conditions.
– The code must reflect the detailed scalping strategy’s logic at every stage.
Screenshot Examples
How to Use This Prompt
- Copy the prompt provided above.
- Paste it into your preferred coding environment.
- Modify any specific parameters as needed for your strategy.
- Run the code to generate the MQL5 Expert Advisor.
- Test the EA in a demo account before live trading.
- Adjust settings based on performance and market conditions.
Tips for Best Results
- Multi-Timeframe Analysis: Use M1, M5, and M15 data to assess market trends and signals.
- Dynamic S/R Detection: Implement scoring for support/resistance lines based on touch count, strength, recency, and volume.
- Confluence Scoring System: Require at least 4 out of 6 conditions for trade entries, including EMA bias and candlestick patterns.
- Robust Risk Management: Adjust position sizes based on 1% risk, ATR volatility, and implement daily loss limits.
FAQ
- What is the purpose of the MQL5 Expert Advisor?
To implement an advanced forex scalping strategy using multi-timeframe analysis and various indicators. - Which timeframes are analyzed in the EA?
The EA analyzes M1, M5, and M15 chart data for trading decisions. - What indicators are core to the scalping strategy?
Core indicators include EMA, RSI, MACD, and Bollinger Bands, among others. - How does the EA manage risk?
It uses position sizing, daily loss limits, and consecutive loss tracking for risk management.
Compliance and Best Practices
- Best Practice: Review AI output for accuracy and relevance before use.
- Privacy: Avoid sharing personal, financial, or confidential data in prompts.
- Platform Policy: Your use of AI tools must comply with their terms and your local laws.
Revision History
- Version 1.0 (February 2026): Initial release.
