yen trader
Info
The yen trader is a Expert Advisor for MetaTrader 4 that yen tradertrades jpy crosses (xxxjpy) where xxx is one of the major currencies (except usd which will be used as a reference currency). based on the selected direction (r:right or l:left), the ea will detect divergence or convergence between a major pair and usdjpy, and trade the yen cross pair based on that.
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 yen trader
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
yen tradertrades jpy crosses (xxxjpy) where xxx is one of the major currencies (except usd which will be used as a reference currency).
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: Quantora Trade Manager MT4: Advanced Position Management for MetaTrader 4 - another powerful expert for MetaTrader 4 traders.
Also recommended: bad orders expert advisor for metatrader - similar expert with strong performance on MetaTrader 4.
yen tradertrades jpy crosses (xxxjpy) where xxx is one of the major currencies (except usd which will be used as a reference currency).
based on the selected direction (r:right or l:left), the ea will detect divergence or convergence between a major pair and usdjpy, and trade the yen cross pair based on that.
divergence/convergence is detected using:
close price a number of bars back
moving average
rsi
cci
rvi
stop loss, take profit, profit lock, trailing stop can be based on pips or atr multiples.
the ea can be used for scalping as well as swing trading.
You may also like: gaps expert advisor for metatrader - excellent alternative for expert users on MetaTrader 4.
Source Code
#property copyright "robotfx"
#property link "https://robotfx.org"
#property description "this code is educational. feel free to use, modify and upgrade as you wish. visit robotfx.org for professional trading tools"
#property description "this code is educational. feel free to use, modify and upgrade as you wish. visit robotfx.org for professional trading tools"
#property version "5.10"
#property strict
#include <stderror.mqh>
#include <stdlib.mqh>
enum enum_entries
{.......
⚠ 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.