FM One EA
This is a powerful addition to your MetaTrader 4 toolkit designed to optimize market analysis and performance. 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 FM One EA
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
FMOneEA is a scalping Expert Advisor for MetaTrader 4. It works only on one hour timeframe (PERIOD_H1).
FMOneEA calculation is based of ZigZag and MACD indicators on H1 timeframe. Caution: make sure that the ZigZag indicator is in the <terminal_data_folder>\MQL4\Indicators\. Hope it is useful.
Default Property for FMOneEA is as follows, and the results of the Strategy Tester below use the default property.
Last modify (update): 17/07/2015.
Update (21/04/2015):
Improved signal formula, to make it more accurate.
Added Redemption function to Redemption Loss Order.
Update (29/04/2015):
Fixed code for Redemption and option for multiplication Lost Redemption.
Improved codes for braking movement.
Simplified signal formula.
Update (26/05/2015):
Fixed code for Lots Redemption.
Increased the speed of the EA process.
Improved code for the Trailing Stop and Trailing Profit.
If setting: UseTrailingStop = True, AutoTrailingStop = True, and AutomaticTakeProfit = True, then, when Stop Loss is Trailing, Take Profit will be Trailing too, so Take Profit will be dynamic.
Update (2/06/2015):
Error correction in FM1Redemption() function.
Added scripts to move Stop Loss to the BEP, if order is profit, before the Trailing Stop is done.
Added Option for Maximum Lot Redemption (for multiplication Lots Redemption).
Corrected signal calculation formula on the FMOneCalculation() function.
Update (16/07/2015):
Error correction for variable arrays timeframe because the array mat [4] was out of range (in update_5).
Update (17/07/2015): (Update_07)
Simplified the signal formula, without ZigZag indicator
.
Update (17/08/2015): (Update_08)
Improvement of the program structure.
Fixed bugs in open order.
Testing results:
