Smoothing Average EA
Info
The Smoothing Average EA is a Expert Advisor for MetaTrader 4 that this expert advisor (ea) utilizes a single moving average (ma) indicator with a unique 'smoothing factor' to determine entry and exit points based on a fixed pip distance from the ma. This EA is an experimental project and is not recommended for live trading due to its unrefined nature.
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 Smoothing Average 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 (EA) utilizes a single Moving Average (MA) indicator with a unique 'smoothing factor' to determine entry and exit points based on a fixed pip distance from the MA.
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: moving average grid ea - another powerful expert for MetaTrader 4 traders.
This Expert Advisor (EA) utilizes a single Moving Average (MA) indicator with a unique 'smoothing factor' to determine entry and exit points based on a fixed pip distance from the MA.Also recommended: average range monitor (arm) - similar expert with strong performance on MetaTrader 4.
This EA is an experimental project and is not recommended for live trading due to its unrefined nature.
Testing Results:
The EA has been tested over a 5-year period with promising results, and it has also shown decent performance over a 10-year period (2011-2021).
The default settings are optimized for the 1-hour EURUSD chart but can be adapted for other currency pairs and timeframes.
The long-term goal is to create a profitable EA with minimal complexity, aiming for consistent performance over extended periods, such as 5 years or more.
Feedback is welcome.
You may also like: average speed - excellent alternative for expert users on MetaTrader 4.
Source Code
#property copyright "robotfx"
#property link "https://robotfx.org"
#property version "0.01"
input int period_ma=200;
input double risk=10;
input int smoothing=1400;
int currentorder;
double ma;
double ma2;
double highpoint;.......
⚠ 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.