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[EA] Charles-1. 3. 3
Info
The [EA] Charles-1. 3. 3 is a Expert Advisor for MetaTrader 4 that afabiani (alfa)the ea starts looking for prices and break-outs. After that it continues trading by placing orders progressively aiming to reach a global profit.
Usage
This tool is typically used for automated trading on major forex pairs and gold.
Platform
This Expert Advisor works exclusively on MetaTrader 4 (both build 600+ and newer versions).
Setup
Place the downloaded file in MQL4/Experts folder via File ? Open Data Folder in MetaTrader 4.
How to Install and Use [EA] Charles-1. 3. 3
1. Installation: Open the "File" menu, select "Open Data Folder," navigate to MQL/Experts, paste your file, and restart the terminal.
2. Activation: Drag the EA from the Navigator onto a chart, ensure "Allow live trading" is checked in the Common tab, and verify the AutoTrading button is green.
3. Optimization: Right-click your chart, choose "Expert List," click "Properties" to adjust inputs, and save your preferred setup as a set file for future use.
4. Maintenance: Regularly check the "Experts" tab in the terminal window to monitor trade logs and potential execution errors.
Frequently Asked Questions
Q: Why is my EA not opening trades? A: Check the "AutoTrading" button, ensure "Allow live trading" is enabled, and verify your broker allows automated trading on your account type.
Q: Can I run multiple EAs on one chart? A: No, each chart can only host one active EA; however, you can open multiple charts for different currency pairs to run several EAs.
Q: What does the "smiley face" icon mean? A: A smiley face in the top-right corner of the chart indicates the EA is successfully running; a frowny face means it is disabled.
What this tool does
afabiani (AlFa)The EA starts looking for prices and break-outs.
Typical Use Case
This Expert Advisor excels in automated trading and technical analysis on MetaTrader 4.
Compatible Platform & Setup
This Expert Advisor works on MetaTrader 4. Place the file in the MQL4/Experts folder and restart the terminal.
Description & Settings
Related: [EA] - Charles 2. 1. 5 - another powerful expert for MetaTrader 4 traders.
afabiani (AlFa)
The EA starts looking for prices and break-outs. After that it continues trading by placing orders progressively aiming to reach a global profit. It also scalps pips in when a positive amount is reached and tries to aument the gain when the market is tranding.
Also recommended: [EA] - Charles-1. 3. 7 - similar expert with strong performance on MetaTrader 4.
It should work on most pairs and all periods. The profit factor is not "galactic" since it tries to protect the capital as much as possible with a small but constant profit increment and a small draw down.Moreover there is a protection when the profit falls below the balance risk-percent. It places hedge orders in order to block the loss and looks for some indicator trying to catch the good direction in order to exit the stall.
Of course it can be improved a lot and it may require manual intervention and/or some parameters tweaking basing on the market condition. In general however it should be quite stable.
If you like this EA and you have some expertise in Forex trading, I would be greatefull for hints and ideas on how to improve it. Also if you have time to test it and find bugs, please report them to me.
Parameters:
Anchor[250]; PIPS displacements for up/down orders
xFactor[0.7]; Lots xFactor multiplier for further orders
Amount[1.0]; Initial profit target (indicative, the EA computes it automatically)
RiskPercent[10]; Account Balance percent you want to risk (I recommend to not go above 10%)
LotPercent[10]; Lots percent
Lots[0.01]; Lots amount, considere only when LotPercent is 0
Slippage[2]; Orders slippage
Macd;"Quick, Slow, Signal"
- Qema[10]; Quick MACD EMA period
- Sema[32]; Slow MACD EMA period
- Signalmacd[4]; MACD Signal period
Ema;"fast close, slow open."
- Fastema[8]; Fast EMA period
- Slowema[14]; Slow EMA period
AllOrders[false]; wheather or not consider ALL the orders for the Symbol, also the manual ones
LogToFile; wheather or not log to a file into the MT4 folders
You may also like: Source Code Version 3 - excellent alternative for expert users on MetaTrader 4.
⚠ Limitations & Risk Warning
- This tool is provided for educational and testing purposes only.
- Past performance does not guarantee future results.
- Trading involves substantial risk of loss. Use on a demo account first.
- Results may vary depending on market conditions, broker, and settings.
- We recommend thorough backtesting and forward testing before using with real funds.