Smoothing Average
This software component for MetaTrader 4 is built to enhance the capabilities of your trading environment. 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 Smoothing Average
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
This EA is based on 1 moving average indicator, the exit and entry points are determined by a "smoothing factor"; a fixed amount of pips above or below the MA.
This has been uploaded for experimental purposes, it is a very unpolished EA and I don't recommend running this on a live account.
Testing Results:
The following chart is a test conducted over a 5 year period, using the same parameters it has also worked decently over a 10 year period (2005 to 2015).
Standard settings are for the 1 hour chart on EURUSD, but can easily be optimized for any currency pair and timeframe.
Long term goal is to make this EA profitable over a prolonged period of time, i.e 5 years or more with as little complexity as possible.
Feedback is appreciated, enjoy.
