| # MQL5 Expert Advisor: Multi-Indicator Breakout Scalper
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| ## What This EA Does
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| This Expert Advisor combines **Envelopes**, **Fractals**, **RSI**, and **Bollinger Bands** to identify breakout and scalping opportunities on the M5 timeframe. The logic works like this:
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| ### Trading Logic
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| **Buy Signal (Upward Breakout)**
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| 1. Price closes above the upper Envelope (bullish momentum)
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| 2. RSI is above 50 (uptrend confirmation)
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| 3. Price is above the lower Bollinger Band (not oversold)
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| 4. Upper Fractal is broken (price action confirmation)
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| **Sell Signal (Downward Breakout)**
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| 1. Price closes below the lower Envelope (bearish momentum)
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| 2. RSI is below 50 (downtrend confirmation)
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| 3. Price is below the upper Bollinger Band (not overbought)
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| 4. Lower Fractal is broken (price action confirmation)
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| **Exit Rules**
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| - Take profit: 20 pips (configurable)
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| - Stop loss: 15 pips (configurable)
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| - Max one trade per candle to avoid overtrading
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| ---
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| ## How to Use This Code
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| ### Step 1: Open MQL5 Editor
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| - In MetaTrader 5, press **F4** or click Tools → MetaEditor
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| - Click File → New → Expert Advisor (template)
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| - Name it "MultiIndicatorScalper"
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| - Click Finish
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| ### Step 2: Copy the Code
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| Delete everything in the editor and paste the complete code below
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|
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| ### Step 3: Compile
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| - Press **F7** or click Compile
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| - Fix any errors (unlikely if you copied correctly)
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| - You'll get a "successful" message
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| ### Step 4: Test on M5 Chart
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| - Open any currency pair on M5 timeframe
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| - Drag the EA from Navigator (Ctrl+N) onto the chart
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| - Enable "Allow live trading" if testing live (tick the checkbox)
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| - Click OK
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| ### Step 5: Monitor
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| Watch the Expert tab at the bottom for trade signals and execution
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| ---
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| ## The Complete Code
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| //+------------------------------------------------------------------+
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| //| Multi-Indicator Breakout Scalper EA for M5 Timeframe |
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| //+------------------------------------------------------------------+
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| #property strict
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| #property copyright "Copyright 2025"
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| #property description "Envelopes + Fractals + RSI + Bollinger Bands"
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| #property version "1.00"
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| // Input parameters - you can adjust these
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| input double LotSize = 0.01; // Trade size (0.01 = 10k units for most pairs)
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| input int TakeProfit = 20; // Take profit in pips
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| input int StopLoss = 15; // Stop loss in pips
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| input int EnvelopePeriod = 14; // Envelope MA period
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| input double EnvelopeDeviation = 0.3; // Envelope deviation
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| input int RSIPeriod = 14; // RSI period
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| input int BBPeriod = 20; // Bollinger Bands period
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| input int BBDeviation = 2; // Bollinger Bands deviation
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| // Global variables
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| int envelopeHandle; // Stores the Envelope indicator
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| int rsiHandle; // Stores the RSI indicator
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| int bbHandle; // Stores the Bollinger Bands indicator
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| CTrade trade; // Trading object
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| datetime lastTradeTime = 0; // Prevents multiple trades per candle
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| //+------------------------------------------------------------------+
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| //| Expert initialization function |
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| //+------------------------------------------------------------------+
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| int OnInit()
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| {
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| // Create Envelope indicator handle
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| envelopeHandle = iEnvelopes(_Symbol, _Period, EnvelopePeriod, 0, MODE_SMA, PRICE_CLOSE, EnvelopeDeviation);
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| // Create RSI indicator handle
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| rsiHandle = iRSI(_Symbol, _Period, RSIPeriod, PRICE_CLOSE);
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| // Create Bollinger Bands indicator handle
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| bbHandle = iBands(_Symbol, _Period, BBPeriod, 0, BBDeviation, PRICE_CLOSE);
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| // Check if all indicators initialized successfully
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| if(envelopeHandle == INVALID_HANDLE || rsiHandle == INVALID_HANDLE || bbHandle == INVALID_HANDLE)
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| {
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| Alert("Failed to create indicator handles");
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| return(INIT_FAILED);
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| }
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| return(INIT_SUCCEEDED);
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| }
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| //+------------------------------------------------------------------+
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| //| Expert deinitialization function |
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| //+------------------------------------------------------------------+
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| void OnDeinit(const int reason)
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| {
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| // Release indicator handles (cleanup)
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| IndicatorRelease(envelopeHandle);
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| IndicatorRelease(rsiHandle);
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| IndicatorRelease(bbHandle);
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| }
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| //+------------------------------------------------------------------+
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| //| Expert tick function (runs every price update) |
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| //+------------------------------------------------------------------+
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| void OnTick()
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| {
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| // Get current bar time
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| datetime currentBarTime = iTime(_Symbol, _Period, 0);
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| // Prevent multiple trades on the same candle
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| if(currentBarTime == lastTradeTime)
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| return;
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| // Read indicator values for the closed bar (candle 1 = previous candle)
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| double envelopeUpper = GetEnvelopeValue(UPPER_BAND, 1);
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| double envelopeLower = GetEnvelopeValue(LOWER_BAND, 1);
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| double rsiValue = GetRSIValue(1);
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| double bbUpper = GetBBValue(UPPER_BAND, 1);
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| double bbLower = GetBBValue(LOWER_BAND, 1);
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| // Get the closed price of the previous candle
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| double closedPrice = iClose(_Symbol, _Period, 1);
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| // Get fractal levels (fractal_up = resistance, fractal_down = support)
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| double fractalUp = GetFractalHigh(1);
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| double fractalDown = GetFractalLow(1);
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| // Get current ask and bid
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| double ask = SymbolInfoDouble(_Symbol, SYMBOL_ASK);
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| double bid = SymbolInfoDouble(_Symbol, SYMBOL_BID);
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| // BUY SIGNAL: Price breaks above envelope with RSI bullish
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| if(closedPrice > envelopeUpper &&
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| rsiValue > 50 &&
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| closedPrice > bbLower &&
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| closedPrice > fractalUp &&
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| !HasOpenTrade())
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| {
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| Print("BUY Signal: Envelope break, RSI bullish, price above BB lower");
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| double buyStopLoss = bid - (StopLoss * _Point);
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| double buyTakeProfit = ask + (TakeProfit * _Point);
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| if(trade.Buy(LotSize, _Symbol, ask, buyStopLoss, buyTakeProfit))
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| {
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| lastTradeTime = currentBarTime;
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| }
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| }
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| // SELL SIGNAL: Price breaks below envelope with RSI bearish
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| if(closedPrice < envelopeLower &&
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| rsiValue < 50 &&
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| closedPrice < bbUpper &&
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| closedPrice < fractalDown &&
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| !HasOpenTrade())
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| {
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| Print("SELL Signal: Envelope break, RSI bearish, price below BB upper");
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| double sellStopLoss = ask + (StopLoss * _Point);
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| double sellTakeProfit = bid - (TakeProfit * _Point);
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| if(trade.Sell(LotSize, _Symbol, bid, sellStopLoss, sellTakeProfit))
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| {
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| lastTradeTime = currentBarTime;
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| }
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| }
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| }
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| //+------------------------------------------------------------------+
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| //| Get Envelope indicator value |
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| //+------------------------------------------------------------------+
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| double GetEnvelopeValue(int buffer, int shift)
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| {
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| double envelope[1];
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| int copied = CopyBuffer(envelopeHandle, buffer, shift, 1, envelope);
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| if(copied <= 0)
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| {
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| Print("Error copying envelope buffer");
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| return 0;
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| }
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| return envelope[0];
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| }
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| //+------------------------------------------------------------------+
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| //| Get RSI indicator value |
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| //+------------------------------------------------------------------+
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| double GetRSIValue(int shift)
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| {
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| double rsi[1];
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| int copied = CopyBuffer(rsiHandle, 0, shift, 1, rsi);
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| if(copied <= 0)
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| {
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| Print("Error copying RSI buffer");
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| return 0;
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| }
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| return rsi[0];
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| }
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| //+------------------------------------------------------------------+
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| //| Get Bollinger Bands value |
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| //+------------------------------------------------------------------+
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| double GetBBValue(int buffer, int shift)
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| {
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| double bb[1];
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| int copied = CopyBuffer(bbHandle, buffer, shift, 1, bb);
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| if(copied <= 0)
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| {
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| Print("Error copying BB buffer");
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| return 0;
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| }
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| return bb[0];
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| }
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| //+------------------------------------------------------------------+
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| //| Get Fractal High (simple method using 5 bars) |
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| //+------------------------------------------------------------------+
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| double GetFractalHigh(int shift)
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| {
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| // Fractal: a high with lower highs on both sides
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| // Simplified: just check 2 bars before and after
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| double high1 = iHigh(_Symbol, _Period, shift + 2);
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| double high2 = iHigh(_Symbol, _Period, shift + 1);
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| double high3 = iHigh(_Symbol, _Period, shift);
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| double high4 = iHigh(_Symbol, _Period, shift - 1);
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| double high5 = iHigh(_Symbol, _Period, shift - 2);
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| if(high3 > high2 && high3 > high4 && high3 > high1 && high3 > high5)
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| return high3;
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| return high3; // Return current high if no clear fractal
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| }
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| //+------------------------------------------------------------------+
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| //| Get Fractal Low (simple method using 5 bars) |
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| //+------------------------------------------------------------------+
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| double GetFractalLow(int shift)
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| {
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| // Fractal: a low with higher lows on both sides
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| double low1 = iLow(_Symbol, _Period, shift + 2);
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| double low2 = iLow(_Symbol, _Period, shift + 1);
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| double low3 = iLow(_Symbol, _Period, shift);
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| double low4 = iLow(_Symbol, _Period, shift - 1);
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| double low5 = iLow(_Symbol, _Period, shift - 2);
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| if(low3 < low2 && low3 < low4 && low3 < low1 && low3 < low5)
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| return low3;
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| return low3; // Return current low if no clear fractal
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| }
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| //+------------------------------------------------------------------+
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| //| Check if there's already an open trade |
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| //+------------------------------------------------------------------+
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| bool HasOpenTrade()
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| {
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| int posTotal = PositionsTotal();
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| for(int i = 0; i < posTotal; i++)
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| {
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| if(PositionGetTicket(i) > 0)
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| {
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| if(PositionGetString(POSITION_SYMBOL) == _Symbol)
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| return true;
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| }
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| }
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| return false;
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| }
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| ---
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| ## Breaking Down How It Works
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| ### The Core Structure
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| Your EA has four main sections:
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| **1. Indicator Initialization (OnInit)**
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| When the EA starts, it creates "handles" for each indicator. A handle is like a reference card that tells MT5 "I want data from this specific indicator with these settings." The system stores this for later use.
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| **2. The Main Loop (OnTick)**
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| This runs every time the price ticks (moves). It:
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| - Gets current indicator values
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| - Compares them against your rules
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| - Generates buy or sell signals
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| - Executes trades if conditions match
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| **3. Helper Functions**
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| These retrieve values from indicators safely. Without them, you'd get crashes if the indicator wasn't ready. These functions return the value or zero if something fails.
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| **4. Position Management**
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| `HasOpenTrade()` checks if you're already in a trade, preventing multiple positions on the same pair.
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| ### How Each Indicator Works
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| **Envelopes**
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| - Upper band = Moving Average + Deviation (resistance)
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| - Lower band = Moving Average - Deviation (support)
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| - Signal: Price closing outside these bands indicates breakout
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| **Bollinger Bands**
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| - Upper = SMA(20) + 2 × StdDev
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| - Lower = SMA(20) - 2 × StdDev
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| - Signal: Price touching bands shows overbought/oversold conditions
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| **RSI (Relative Strength Index)**
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| - Range: 0 to 100
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| - Above 50 = uptrend bias
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| - Below 50 = downtrend bias
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| - Above 70 = overbought, Below 30 = oversold
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| **Fractals**
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| - Highs with lower highs on both sides (resistance point)
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| - Lows with higher lows on both sides (support point)
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| - Breaks confirm breakout trades
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| ### The Entry Logic (Why Buy?)
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| IF price > upper envelope AND
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| RSI > 50 (trending up) AND
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| price > lower BB (not oversold) AND
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| price > fractal high (breaking resistance) AND
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| no open trade
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| THEN: Buy
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| This combines momentum (RSI), volatility (Envelopes & BB), and price action (Fractals). Multiple confirmations reduce false signals.
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| ---
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| ## Adjusting for Your Style
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| ### For Tighter Scalping (faster entries/exits)
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| TakeProfit = 10 // Close faster
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| StopLoss = 8
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| EnvelopeDeviation = 0.2 // Tighter bands = more signals
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| ### For Less Noise (fewer but stronger trades)
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| TakeProfit = 30
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| StopLoss = 20
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| EnvelopePeriod = 20 // Slower moving average
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| RSIPeriod = 21 // Less sensitive RSI
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| ### For Testing on XAUUSD
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| Gold moves differently than forex. Adjust:
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| TakeProfit = 2 // Gold moves in dollars, not pips
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| StopLoss = 1.5
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| LotSize = 0.01 // Start small
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| ---
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| ## Common Errors and Fixes
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| **Error: "Invalid Handle"**
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| - Indicator won't initialize
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| - **Fix**: Check your chart is M5 timeframe. Check _Symbol and _Period are correct in the code
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| **Trade doesn't execute**
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| - You probably don't have "Allow Live Trading" enabled
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| - **Fix**: In EA settings dialog, tick "Allow live trading"
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| **EA stops running**
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| - Usually from an error. Check the Expert tab for messages
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| - **Fix**: Restart MT5, reattach the EA
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| ---
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| ## Next Steps
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| 1. Test this on a demo account first (paper trading)
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| 2. Use the Strategy Tester (Ctrl+R) to backtest before live
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| 3. Monitor the Expert tab for entry/exit messages
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| 4. Once confident, adjust lot size and risk parameters
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| The EA will tell you exactly when it trades via Print() statements in the Expert tab. This helps you understand if the logic is working.
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