SMC Trading Bot - MQL5 Core
MQL5 implementation of the Smart Money Concepts strategy
Core Features
Structural Analysis
Real-time detection of BOS/CHoCH patterns using N=2 pivots on 5M timeframe with customizable sensitivity.
OB/FVG Detection
Automated identification of Order Blocks and Fair Value Gaps with strict confluence requirements.
Risk Management
Built-in R:R 1:2 ratio with adjustable TP/SL levels and position sizing based on account risk parameters.
MQL5 Implementation
//+------------------------------------------------------------------+
//| Expert initialization function |
//+------------------------------------------------------------------+
int OnInit()
{
// Set up indicators and parameters
int handleMA = iMA(NULL, PERIOD_M5, 50, 0, MODE_SMA, PRICE_CLOSE);
// Validate initialization
if(handleMA == INVALID_HANDLE) {
Print("Failed to create MA indicator");
return(INIT_FAILED);
}
return(INIT_SUCCEEDED);
}
//+------------------------------------------------------------------+
//| Expert tick function |
//+------------------------------------------------------------------+
void OnTick()
{
static datetime lastBarTime = 0;
datetime currentBarTime = iTime(NULL, PERIOD_M5, 0);
if(currentBarTime == lastBarTime)
return; // Wait for new bar
lastBarTime = currentBarTime;
// 1. Detect Pivots (N=2)
int pivots[];
DetectPivots(pivots, 2);
// 2. Analyze Market Structure
string bias = AnalyzeStructure();
// 3. Check for Trade Setup
if(bias != "Accumulative") {
CheckTradeSetup(bias);
}
}
System Architecture
1. Data Layer
MT5 Price Feed & Indicators
2. Analysis Layer
Pivot Detection & Structure Analysis
3. Strategy Layer
OB/FVG Detection & Entry Logic
4. Execution Layer
Order Management & Risk Control
Key Functions
1. DetectPivots()
bool DetectPivots(int &pivots[], int N)
{
int totalBars = Bars(NULL, PERIOD_M5);
ArrayResize(pivots, totalBars);
ArrayInitialize(pivots, 0);
for(int i = N; i < totalBars - N; i++)
{
double high = iHigh(NULL, PERIOD_M5, i);
double low = iLow(NULL, PERIOD_M5, i);
bool isSwingHigh = true, isSwingLow = true;
for(int j = i - N; j <= i + N; j++)
{
if(i == j) continue;
if(iHigh(NULL, PERIOD_M5, j) >= high) isSwingHigh = false;
if(iLow(NULL, PERIOD_M5, j) <= low) isSwingLow = false;
}
if(isSwingHigh) pivots[i] = 1; // Swing High
else if(isSwingLow) pivots[i] = -1; // Swing Low
}
return true;
}
2. AnalyzeStructure()
string AnalyzeStructure()
{
int pivots[];
if(!DetectPivots(pivots, 2)) return "Accumulative";
int swingCount = 0;
int swingIndices[3];
double swingPrices[3];
string swingTypes[3];
for(int i = ArraySize(pivots)-1; i >= 0 && swingCount < 3; i--)
{
if(pivots[i] != 0)
{
swingIndices[swingCount] = i;
swingPrices[swingCount] = (pivots[i] == 1) ?
iHigh(NULL, PERIOD_M5, i) :
iLow(NULL, PERIOD_M5, i);
swingTypes[swingCount] = (pivots[i] == 1) ? "H" : "L";
swingCount++;
}
}
if(swingCount < 3) return "Accumulative";
string P1 = swingTypes[0], P2 = swingTypes[1], P3 = swingTypes[2];
double P1_price = swingPrices[0], P2_price = swingPrices[1], P3_price = swingPrices[2];
double close = iClose(NULL, PERIOD_M5, 0);
string bias = "Accumulative";
if(P2 == "H" && close > P2_price)
{
if(P3 == "L" && P2_price > P3_price) bias = "Bullish";
else if(P3 == "L" && P2_price < P3_price) bias = "Bullish";
}
else if(P2 == "L" && close < P2_price)
{
if(P3 == "H" && P2_price < P3_price) bias = "Bearish";
else if(P3 == "H" && P2_price > P3_price) bias = "Bearish";
}
return bias;
}
3. CheckTradeSetup()
void CheckTradeSetup(string bias)
{
if(IsTradeContextBusy()) return;
bool isBullish = (bias == "Bullish");
double entry, sl, tp;
double lotSize = OptimalLotSize();
// 1. Try OB/FVG Setup (Priority 1)
if(FindObFvgSetup(isBullish, entry, sl, tp))
{
PlaceOrder(isBullish ? ORDER_TYPE_BUY : ORDER_TYPE_SELL,
lotSize, entry, sl, tp, "OB/FVG Confluence");
}
// 2. Fallback to Fib 30% (Priority 2)
else if(FindFibSetup(isBullish, entry, sl, tp))
{
PlaceOrder(isBullish ? ORDER_TYPE_BUY : ORDER_TYPE_SELL,
lotSize, entry, sl, tp, "30% Fib Retracement");
}
}
SMC Trading Bot
MQL5 implementation of Smart Money Concepts
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