murrey ea
Info
The murrey ea is a Expert Advisor for MetaTrader 4 that this expert advisor is based on murrey lines, stochastic oscillator, candles, bollinger bands. oversold occured when price breaked level 8/8 and stochastic >70 and target level 7/8 , with auto trail, when candle close above 8/8 overbought occured when price breaked level 0/8 and stochastic<20 and target level 1/8 , with auto trail, when candle close bellow 0/8 what's new : v4 -> no order modify error 134 , and i will always update ea when i have time.
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 murrey 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.
What this tool does
this expert advisor is based on murrey lines, stochastic oscillator, candles, bollinger bands.
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: the expert advisor on traffic light trend strategy - another powerful expert for MetaTrader 4 traders.
this expert advisor is based on murrey lines, stochastic oscillator, candles, bollinger bands.
Also recommended: Trade from Lines (e-tfl) - Advanced Line Trading Expert Advisor - similar expert with strong performance on MetaTrader 4.
oversold occured when price breaked level 8/8 and stochastic >70 and target level 7/8 , with auto trail, when candle close above 8/8
overbought occured when price breaked level 0/8 and stochastic<20 and target level 1/8 , with auto trail, when candle close bellow 0/8
what's new : v4 -> no order modify error 134 , and i will always update ea when i have time....
you must download murrey template before using ea to understand the functionality , murrey auto detect support and resistance , pivotal point ... on a cetain timeframe
if you do not know what is murrey please view this links: , .
algorithms
recommendations:
i. 5 digits pair
ii. best timeframes: m15,m30,h1,h4
iii. please follow the trend before running ea , you can disable buy by setting. enable buy :false , you can disable sell by setting enable sell:false
so ea will work good when you take a look at the trend and follow only the trend, disable short or long.
money management
do not risk, because minimum timeframe to ea to work good is m15.
You may also like: News Trader EA: Trading Volume Spikes and News Events - excellent alternative for expert users on MetaTrader 4.
Source Code
#property copyright "robotfx"
#property link "https://robotfx.org"
#property version "4.00"
#property strict
#define minus2of8 0
#define minus1of8 1
#define zeroof8ultimatesupport 2
#define oneof8weakreverse 3
#define twoof8strongreverse 4
#define threeof8lowerrange 5.......
⚠ 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.