Well Martin
This professional-grade solution for MetaTrader 5 helps traders achieve greater efficiency in their daily workflow. 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 Well Martin
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
Well Martin EA is based on two indicators: Bollinger Bands and ADX. It is designed for use on a tranquil market.
After a Stop Loss, the EA increases the lot by
KLot
coefficient until it reaches the maximum value —
MaxLot
. Then the lot returns to its start size —
Lot
.
The EA has Stealth Mode in which the stops are visible only to the user.
When breaking through the lower Bollinger Bands boundary, the EA opens a Buy order, when breaking through the higher boundary, it opens a Sell order.
EURUSD, М15 timeframe.
Expert Advisor parameters:
Fig.1. Stealth Mode
Fig.2. Optimization results from 2010 until now
Tips:
It is recommended to use this EA only as a basis for your own strategy.
