Intraday EA
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 Intraday EA
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
I have written the attached EA. I do not have a coding background and have been learning MQL4 for the last 2 weeks.
I have managed to build the backbone of this EA using an MQL4 code builder which i then manually tweaked. I have run this on a back test but have not been having much success in getting the logic to enter and exit trades when I want them to execute.
I basically have derived from a bollinger band system the following, on a standard 20,2,2 indicator based on a 15min chart:
Where:
A single buy is when the price goes below the band (20,2.4,2.4) and then the price retraces back to the (20,1,1) and the trade should take profit where also the SL can be manually set at say 100 pips, but i'd like to test this with maybe 50 pips.
A single sell is when the price goes above the band (20,2.4,2.4) and then the price retraces back to the (20,1,1) and the trade should take profit where also the SL can be manually set at say 100 pips, but i'd like to test this with maybe 50 pips.
The question:
If you run the attached program you will find that sometimes the entry point in 1 bar in delay or more and sometimes the code misses the entry entirely.
Is there anyone out there that has more experience than me and can help me out with this very frustrating issue. I would really appreciate any feedback.
Many thanks
Steve
