Break Out + MM + Multi-currencies
This software component for MetaTrader 4 is built to enhance the capabilities of your trading environment. This Expert Advisor serves as automated trading software. It is utilized to monitor financial markets and execute trades based on predefined algorithmic rules, enabling precise position management without the need for constant manual oversight.
How to Setup and Use Break Out + MM + Multi-currencies
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.
Description & Settings
The EA based on break-outs with money management. It is able to trade on multiple pairs.
The bot allows you to select one or more Symbol Pairs. It then computes support and resistence values given the price for each Symbol and places incremental orders. Once the global Profit has been reached, it tries to follow the gain and then takes the pips. The bot also has a smart money management both avoiding to open orders if there is margin available and also trying to protect the balance if the loss is higher of a certain percentage.
The gain is not "galactical" but is assured and secure. The aim of the bot is to protect the capital and get a constant good profit.
For the installation you need to put the two mqh files into the "include" folder.
Recommendations:
Comma separated list of Symbol Pairs: EURUSD,USDCHF (must be equal to the string of your account provider).
