Emagic
This is a powerful addition to your MetaTrader 4 toolkit designed to optimize market analysis and performance. 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 Emagic
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
One of my first proper EAs and work in progress :P
an EA that opens an order in the direction of a customizable macd signal and ema close/ema open cross
ive included money management or fixed lot size
if money management is chosen you can select max lots and min lots - i included that cause when im testing i like not to be stopped out when my broker doesnt support some kind of lot size. atm im using a microlot account with a max of 0.5 lot and 4 digits. i have tried to make it compatible with a 5 digit acct. only thing is the percent risk for a 5 digit acct you have to write 0.3 to get 3 percent risk.
I have made all the indicators customizable for testing.
can enable or disable mail. when enabled it sends a mail to you when it opens an order.
I have found good results on 4h eur/usd with a 40/50pts SL and im using trailing stop of 11pts only cause thats the smallest stabile ts i can make with my broker - they support 8pts ts, but in a fast moving market it could fail.
Ive included a magicnumber but frankly i havent tested it properly yet.
atm im forwardtesting it on a real microaccount.
Hope you like it and feel free to feedback here :P
Cheers
Strategy Tester Report
Emagic1.161
Butenix-Server (Build 419)
