EMA Plus Williams %R Expert Advisor v1.1
Info
The EMA Plus Williams %R Expert Advisor v1.1 is a Expert Advisor for MetaTrader 4 that ema plus williams %r expert advisor this expert advisor trades in the direction of the ema trend and uses williams %r for buy/sell signals. This version has been optimized for EURUSD on the 5-minute timeframe.
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 EMA Plus Williams %R Expert Advisor v1.1
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
EMA Plus Williams %R Expert Advisor This expert advisor trades in the direction of the EMA trend and uses Williams %R for buy/sell signals.
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: ema plus williams %r expert advisor - another powerful expert for MetaTrader 4 traders.
EMA Plus Williams %R Expert Advisor This expert advisor trades in the direction of the EMA trend and uses Williams %R for buy/sell signals. This version has been optimized for EURUSD on the 5-minute timeframe. Enhancements include bug fixes, improved position sizing with user-defined risk percentage per trade, and a simple trailing stop feature (disabled when set to 0). Initial testing was performed with a starting equity of 1000 EUR, aiming to minimize drawdown. Feedback is appreciated. To utilize the enhanced position sizing, increase the 'Max Lots' parameter and define the percentage of your account you wish to risk per trade. Inputs: - Strategy Tester Report: EmaPlusWprv1_1 - Trading Platform: XTrade-MT4 Demo (Build 229) This tool is provided for use at your own risk. The developer is not responsible for any losses incurred. Users are encouraged to modify, test, and optimize the EA for their specific trading strategies. Position Sizing Details: - Strategy Tester Report: EmaPlusWprv1_1 + Position Sizing - Trading Platform: XTrade-MT4 Demo (Build 229)Also recommended: EMA and Williams %R Trend Trading Expert Advisor - similar expert with strong performance on MetaTrader 4.
You may also like: simple williams - excellent alternative for expert users on MetaTrader 4.
Source Code
#property copyright "robotfx"
#define none 0
#define up 1
#define down 2
extern string separator1 = "------trend settings------";
extern bool useematrend = true; // trade in ema trend
extern int barsintrend = 1; // how many bars should be in trend
extern double ematrend = 144; // ema period for trend
extern string separator2 = "------wpr settings------";
extern double iwprperiod = 46; // wpr period for enter and exit.......
⚠ 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.