UP bot 1
This tool for MetaTrader 4 is specifically engineered to streamline your trading operations. This Expert Advisor serves as automated trading software. It is utilized to monitor financial markets and execute trades based on predefined algorithmic rules, enabling precise position management without the need for constant manual oversight.
How to Setup and Use UP bot 1
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.
Description & Settings
The EA works without the use of indicators. Uses only the price values of the current and previous bars for operation.
The idea of the EA lies in the searching of pivot points. It enters using market orders at trend reversal attempt.
Each order is protected with a take profit and stop loss (set in settings). When the stop loss is set to zero — stop loss is calculated automatically by the EA, depending on the current price and the pivot point (stop is moved beyond the level).
It is possible to use trailing stop with a specified step or transfer of the position to breakeven. There are several options for closing positions on condition (enabled in the parameters).
Parameters: ------ start trade settings ------
TakeProfit — TakeProfit level.
StopLoss — StopLoss level (if 0 then auto).
HLdivergence — minimum deviation of two adjacent bars for entry.
SpanPrice — price indent from the starting level for opening an order.
Lots — lot size.
MaxTrades — Maximum number of simultaneously opened orders.
Slippage — Slippage.
MagicNumber — Expert's magic number.------ output settings ------
TrailingStop — trailing stop for open positions;
TrailStopLoss — StopLoss trailing level.
ZeroTrailingStop — StopLoss trailing to breakeven level.
StepTrailing — trailing stop step.
OutputAtLower — exit if the price is lower than the previous bar.
OutputAtRevers — exit at trend reversal.
SpanToRevers — price indent from the reverse level for closing an order.
