My Friend: A MetaTrader Expert Advisor
Info
The My Friend: A MetaTrader Expert Advisor is a Expert Advisor for MetaTrader 4 that this expert advisor, named 'my friend', is a powerful tool designed to assist traders in the metatrader ecosystem. It adheres to the standard conventions of MT4/MT5, ensuring a seamless integration process.
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 My Friend: A MetaTrader Expert Advisor
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, named 'My Friend', is a powerful tool designed to assist traders in the MetaTrader ecosystem.
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: Manual Trade Pad for MetaTrader 4 - another powerful expert for MetaTrader 4 traders.
This expert advisor, named 'My Friend', is a powerful tool designed to assist traders in the MetaTrader ecosystem. It adheres to the standard conventions of MT4/MT5, ensuring a seamless integration process. The installation process is straightforward, catering to both novice and seasoned traders.Also recommended: Trade Manager MT4: Advanced Position Management for MetaTrader 4 - similar expert with strong performance on MetaTrader 4.
The functionality of 'My Friend' is diverse, offering automation, enhanced decision-making capabilities, and analytical insights. These features are tailored to meet the specific needs of traders, providing a comprehensive solution for various trading strategies.
You may also like: Quantora Trade Manager MT4: Advanced Position Management for MetaTrader 4 - excellent alternative for expert users on MetaTrader 4.
Source Code
#property copyright "robotfx"
#property link "https://robotfx.org"
extern string paramexp="--- ---";
extern double risk=0.33;
extern int tp=70;
extern int slplus=13;
extern string paramclose=" --- ---";
extern bool useclose=true;
extern string paramtrail=" --- trailing stop ---";
extern int chperiod=16;.......
⚠ 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.