Trade from Lines (e-tfl) - Advanced Line Trading Expert Advisor
Info
The Trade from Lines (e-tfl) - Advanced Line Trading Expert Advisor is a Expert Advisor for MetaTrader 4 that trade from lines (e-tfl) expert advisorthis is the second, more functional version of the expert advisor that trades from user-defined lines. The advisor requires two lines for proper operation: one must be above the current price, and the other must be below.
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 Trade from Lines (e-tfl) - Advanced Line Trading 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
Trade from Lines (e-tfl) Expert AdvisorThis is the second, more functional version of the expert advisor that trades from user-defined 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: e-signal of trade expert advisor - another powerful expert for MetaTrader 4 traders.
Trade from Lines (e-tfl) Expert AdvisorThis is the second, more functional version of the expert advisor that trades from user-defined lines. The advisor requires two lines for proper operation: one must be above the current price, and the other must be below. The advisor supports two types of lines: horizontal and trend lines. You can set two lines of the same or different types. Lines can be used to draw a channel, and the advisor can be configured to trade within the channel: buying from the lower line and selling from the upper line. Alternatively, you can organize trading for a breakout of a certain price range up or down: buying from the upper line and selling from the lower line.
Also recommended: trade signal indicator - similar expert with strong performance on MetaTrader 4.
The second version implements an offset for the entry level relative to the line. This is set by the "offsettl" parameter in points and can be either positive or negative. Additionally, the second version provides the option to automatically place stop reversal orders at the stop level of the opened position, controlled by the "setrevstopord" parameter.
The following parameters can be configured in the expert advisor:
- nameupline: Name of the upper line.
- namednline: Name of the lower line.
- buyfromup: Buy from the upper line if true. Sell if false.
- buyfromdn: Buy from the lower line if true. Sell if false.
- offtlt: Entry level offset in points. Can be positive or negative.
- setrevstopord: Place stop reversal orders at the stop level of the opened position.
- showcomment: Show comments.
- marketwatch: Formulate trading requests for "market watch" execution.
- magicnumber: Identifier for the advisor's positions and orders.
- usesound: Use sound alerts for trading operations.
- namefilesound: Name of the sound file.
- lots: Trading lot size.
- stoploss: Stop loss level in points.
- takeprofit: Take profit level in points.
- slippage: Price slippage in points.
- numberoftry: Number of trading attempts.
You may also like: imi t trade - excellent alternative for expert users on MetaTrader 4.
Source Code
#property copyright "RobotFX"
#property link "https://robotfx.org"
extern string _P_Expert="---------- Параметры советника";
extern string NameUpLine = "UPLine"; // Наименование верхней линии
extern string NameDnLine = "DNLine"; // Наименование нижней линии
extern bool BuyFromUp = False; // Покупать от верхней линии
extern bool BuyFromDn = True; // Покупать от нижней линии
extern int OffsetTL = 3; // Смещение торгового уровня
extern bool SetRevStopOrd = False; // Ставить переворотные стоп-ордера
extern bool ShowComment = True; // Показывать комментарии.......
⚠ 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.