Expert Advisor Template
Info
The Expert Advisor Template is a Expert Advisor for MetaTrader 4 that this template provides a foundation for developing expert advisors (eas) with essential features and functions. It includes:- Calculation of points for 3-5 digit pairs.
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 Expert Advisor Template
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
This template provides a foundation for developing Expert Advisors (EAs) with essential features and functions.
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.
This template provides a foundation for developing Expert Advisors (EAs) with essential features and functions.Also recommended: e-signal of trade expert advisor - similar expert with strong performance on MetaTrader 4.
It includes:
- Calculation of points for 3-5 digit pairs.
- Setting TakeProfit and StopLoss.
- Magic Number for order identification.
- Fixed trade volume or percentage-based money management.
- Two-step order opening for ECN accounts.
- Ability to open positions against trading signals.
- Spread size limitation.
- Maximum price deviation setting.
- Order placement with multiple attempts.
- Calculation of total EA position profits in the currency.
- Function to close all EA positions and orders.
- Error logging.
The template is designed to streamline the development process, providing a starting point for creating robust EAs with common functionalities.
You may also like: e-news-lucky$ - automated news trading expert advisor - excellent alternative for expert users on MetaTrader 4.
Source Code
#property copyright "robotfx"
#property link "https://robotfx.org"
#property version "1.30"
#property strict
/* error levels for a logging */
#define log_level_err 1
#define log_level_warn 2
#define log_level_info 3
#define log_level_dbg 4
#include <stdlib.mqh>.......
⚠ 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.