I have only read a few pages to this discussion, but it seems like dealer desks and pip spreads are going to hurt this strategy all of the time. Since the design of MetaTrader4 Server is easier deal desk management, it doesn't appear that MT4 would be a good platform to develop this strategy.

I sent a few emails back and forth with Chris Mercer based on my comment at his blog. I *highly* recommend the article below. (originally found on this forum in some thread)
http://tradesight.com/wordpress/?p=46
http://www.mbtrading.com/fx/default.asp

In emails with Chris, he claimed that anyone who offers fixed (or semi fixed) spreads is running a dealing desk. Which... is almost all of them. MBTrading offers no spread and charges a $5 fee per $100k lot. You get to see true bank spread and orders, instead of broker volume. This sounds very complementary to your strategy.

On the other hand, it would be very hard to switch because they accept VB/C/C++/C# code and not MQ4. I have done windows development under C#, and of the windows based languages it is my preference. I will need to look at the API/SDK more to see if conversions/indicators would be difficult or easy. :/