Levels with Revolve
This tool for MetaTrader 4 is specifically engineered to streamline your trading operations. 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 Levels with Revolve
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
EA opens trades from support and resistance levels (trendline — element from a toolbar) which were set by a trader. The direction is selected by the arrows, graphically.
EA revolves the deal if an opposite signal (from another level) appears.
Two options are available.
Trade the move from the levels (arrows — up and down). If the open price is under the level, the EA will open the sell position when price crosses the level. The buy position has the opposite condition.
Trade the crossing the levels (↕). If the open price is under the level, the EA will open the buy position when price crosses the level. The sell position has the opposite condition.
Levels have different colors, according to their angle. Levels is “off” if inappropriate arrows were set. In this case the level is thin. If you want to make a horizontal level, move its second handle to the left from the first handle.
