Binario Expert Advisor
Info
The Binario Expert Advisor is a Expert Advisor for MetaTrader 4 that the binario expert advisor utilizes exponential moving averages of the same period but with different price types (high and low). This EA does not rely on explicit buy or sell signals.
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 Binario Expert Advisor
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
The Binario Expert Advisor utilizes exponential moving averages of the same period but with different price types (high and low).
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: e-trailing2: enhanced trailing stop expert advisor - another powerful expert for MetaTrader 4 traders.
The Binario Expert Advisor utilizes exponential moving averages of the same period but with different price types (high and low). This EA does not rely on explicit buy or sell signals. Instead, it opens long and short positions sequentially, adjusting its parameters based on the calculated moving averages. It employs real-time stop loss and order monitoring for position closure. A new position in the opposite direction is initiated immediately after the previous one is closed.Also recommended: e-signal of trade expert advisor - similar expert with strong performance on MetaTrader 4.
Recommendations:
The EA uses a trailing stop loss and take profit. On average, profitable trades yield approximately 1750 pips, while unprofitable trades average around 250 pips.
This EA is expected to open an average of 4 trades per year on the Daily chart of GBP/USD, which is considered the optimal combination.
Compatibility with ECN brokers is supported. To enable ECN compatibility, set the `ecn_mode` input parameter to true. Failure to do so may result in an `ordersend error 130` when the EA attempts to open positions. This error occurs because ECN brokers with market execution typically do not allow setting stop loss or take profit levels during initial order placement. The workaround is to open the position without these levels first and then modify the position to include stop loss and take profit.
You may also like: e-news-lucky$ - automated news trading expert advisor - excellent alternative for expert users on MetaTrader 4.
Source Code
/*
ecn compatibility by andriy moraru, www.earnfore.com, 2012
*/
#property copyright "robotfx"
#property link "https://robotfx.org"
#property version "1.0"
#property strict
extern int takeprofit = 850;
extern int trailingstop = 850;
extern int pipdifference = 25;.......
⚠ 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.