Nb SMC EA

Nb SMC EA is a fully automated expert advisor for MetaTrader 5 that applies Smart Money Concept ideas to price charts. It waits for a shift in market structure, checks that liquidity has been taken, and then looks for a fair value gap to use as its entry level.

How it works

Each trade has to pass a sequence of checks. If any step fails, the EA does not open a position.

1. Change of character (CHoCH). A pivot-based routine scans a chosen timeframe for a break in structure that suggests direction may be changing.
2. Liquidity sweep. The EA confirms that price has run beyond a swing high or swing low, where many stop orders tend to sit, and then moved back.
3. Fair value gap (FVG). After the first two conditions, it looks for an imbalance zone left by the move and uses that level for the entry.
4. Filters. An ADX trend filter, a CCI momentum filter and a time filter must also agree.

Entries and exits

Entries use a virtual pending system. The EA holds the order internally until price reaches the gap zone, rather than sending a market order at once. The stop loss goes beyond the high or low of the sweep bar, so the stop follows the structure of the setup instead of a fixed distance. Three take-profit levels are set at 1:1, 1:3 and 1:5 reward-to-risk.

Trade management

• Break-even move and step-lock levels once a trade reaches a set profit.
• Optional virtual trailing stop.
• Optional basket profit target that closes all positions together, useful if you run several symbols.
• An exit based on fading momentum.
• A cooldown timer after a loss, and a check for abnormal spread or volatility before each entry.

Markets and timeframes

The EA can be attached to any symbol. The author tuned it mainly for gold (XAUUSD) and suggests the M15 timeframe, with M5 and H1 also listed as supported. Spreads, swap and trading hours differ between brokers, so test other instruments carefully before using them live.

Settings

The exact default values can differ between releases, so open the input tab after attaching the EA and read each parameter. The main groups are:

Risk

Stops, targets and filters limit how a trade is handled but do not remove the chance of loss. Gaps, wide spreads and slippage can cause fills away from the intended price. Start on a demo account, use a lot size or risk percentage you are comfortable with, and review behaviour in the Strategy Tester using data from your own broker.

Installation

1. In MetaTrader 5, choose File, then Open Data Folder.
2. Place the EA file in MQL5, then Experts.
3. Restart the terminal or refresh the Navigator panel.
4. Open a chart of your chosen symbol and timeframe, then drag the EA onto it.
5. On the Common tab, allow algo trading, and make sure the Algo Trading button on the toolbar is active.
6. Adjust the inputs and confirm the smiley icon appears in the chart corner.

A low-spread account is advisable, and a VPS can keep the EA running without gaps in connection.