levels with trail
Info
The levels with trail is a Expert Advisor for MetaTrader 4 that the ea trades on the breakout or the retreat from the support/resistance lines. the lines are set manually by the trader using the "trend line" object on the toolbar.
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 levels with trail
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
the ea trades on the breakout or the retreat from the support/resistance lines.
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: error ea with profitable run - another powerful expert for MetaTrader 4 traders.
the ea trades on the breakout or the retreat from the support/resistance lines. the lines are set manually by the trader using the "trend line" object on the toolbar.
Also recommended: Universal Configurable EA with Integrated Indicators - similar expert with strong performance on MetaTrader 4.
when the price moves towards the profit the ea trails the stop loss order.two trade modes are available:
retreat from the line. in this case, the buy order is placed by the "up" arrow once the price touches the support level (when the bar opening price is above the line). the sell order is placed by the "down" arrow once the price touches the resistance level (the bar opening price is below the line).
the breakout of the line. buy and sell are placed by the ↕ arrow once the line crosses the resistance and the support levels, respectively.
for ease of visual perception, the line colors are set according to the slope angle, as well as zero thickness in case incompatible trade directions relative to it are set. in that case the line is considered to be disabled, and trading based on it is not performed. a reduction to the horizontal is provided once the trader moves the second plot point of the horizontal line to the left of the first plot point, in order to simplify its placement.
You may also like: News Expert Advisor: Momentum Trading without Indicators - excellent alternative for expert users on MetaTrader 4.
Source Code
#property version "1.0"
#property copyright "robotfx"
#property description "this code is educational. feel free to use, modify and upgrade as you wish. visit robotfx.org for professional trading tools"
#property description "this code is educational. feel free to use, modify and upgrade as you wish. visit robotfx.org for professional trading tools"
#property strict
enum on_off_mode
{
on=0,
off=1,
};.......
⚠ 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.