Specter SMC EA – User Guide
Concept
This Expert Advisor (EA) is built around Smart Money Concepts (SMC).
It looks for institutional-style price action patterns before placing trades.
Core sequence:
1. Liquidity Sweep → price takes out a recent high/low (stop hunt).
2. Break of Structure (BOS) → confirms a shift in market direction.
3. Order Block (OB) → EA identifies the valid OB zone (body-only option).
4. Fair Value Gap (FVG) → optional filter, ensures OB confluence.
5. Entry & Execution → pending order placed at OB (or 50% level).
How the EA Works
1. EA scans every new bar on Structure TF:
o Checks for Liquidity Sweep.
o Confirms Break of Structure (BOS).
o Identifies Order Block (OB).
o Confirms OB + FVG confluence (if enabled).
2. When conditions match:
o Places pending Buy/Sell Limit order.
o Calculates lot size based on risk %.
o SL at OB edge (or ATR).
o TP managed via partial closes:
▪ TP1 closes X% of position.
▪ TP2 closes remaining lots.
o SL automatically moves to Breakeven when 1R is reached (if enabled).
Recommended Setup Examples
• EURUSD H1:
o Risk = 1%
o TP1 = 1R, Close 50%
o TP2 = 2R, Close 50%o OB Body Only = true
o Require Sweep = true
o BOS by Close = true
• Gold (XAUUSD) M30:
o Risk = 0.5%
o ATR SL (1.5 × ATR14)
o FVG MinPoints = 20
o Use Session Filter: 7 → 20 server time