Moving Average Advisor
Info
The Moving Average Advisor is a Script for MetaTrader 4 that this is a moving average advisor for 5 digit quotes (alpari). The following variables have been modified:- ma - senior moving average (89)- lma - junior moving average (53)- stoploss - distance in points from ma to set Stop Loss (700)- wr - ratio of take profit to Stop LossThe strategy is as follows:- Buy: lma > ma and the price opens below ma and closes above ma.
Usage
This tool is typically used for enhancing chart analysis and decision making.
Platform
This Script works exclusively on MetaTrader 4 (both build 600+ and newer versions).
Setup
Place the downloaded file in MQL4/Scripts folder via File ? Open Data Folder in MetaTrader 4.
How to Install and Use Moving Average Advisor
1. Installation: Move your script file into the MQL/Scripts directory and restart the platform.
2. Execution: Drag the script onto a chart; it will perform a one-time action, such as closing all open orders or clearing chart objects.
3. Editing: Use MetaEditor (F4) to modify code, click "Compile," and verify no errors appear in the terminal before running.
4. Removing: Scripts stop automatically, but you can remove them manually by right-clicking the chart and choosing "Remove Script."
Frequently Asked Questions
Q: How are scripts different from EAs? A: Scripts execute a single action and then stop; EAs monitor the market and trade continuously.
Q: Can I assign a hotkey to a script? A: Yes, right-click the script in the Navigator, select "Set Hotkey," and define your preferred keyboard shortcut.
Q: Why did my script stop? A: Scripts are designed to stop immediately after finishing their programmed command; this is normal behavior.
What this tool does
This is a moving average advisor for 5 digit quotes (alpari).
Typical Use Case
This Script excels in automated trading and technical analysis on MetaTrader 4.
Compatible Platform & Setup
This Script works on MetaTrader 4. Place the file in the MQL4/Scripts folder and restart the terminal.
Description & Settings
Related: e-moving in wl - another powerful script for MetaTrader 4 traders.
This is a moving average advisor for 5 digit quotes (alpari).The following variables have been modified:
- ma - senior moving average (89)
Also recommended: Moving Average Difference Oscillator - similar script with strong performance on MetaTrader 4.
- lma - junior moving average (53)- stoploss - distance in points from ma to set Stop Loss (700)
- wr - ratio of take profit to Stop Loss
The strategy is as follows:
- Buy: lma > ma and the price opens below ma and closes above ma. Stop Loss is set at ma - stoploss
- Sell: lma < ma and the price opens above ma and closes below ma. Stop Loss is set at ma + stoploss
Position closure:
- The position is closed when the take profit is reached, which is Stop Loss * wr
- Or when the price closes below lma (for buy orders) or above lma (for sell orders), indicating the trend has ended
If the wr ratio is set to 1-3, the system will catch short movements and miss long trends.
If the wr ratio is set to 3-8, the system will catch long trends. Since the trade can be closed either when the profit is reached or when the trend ends (presumably when the price closes above or below the junior moving average), there are two conditions for exiting the trend.
A test was run on ducas copy quotes (with alpari real spread).
A test was also run on alpari quotes (real account) for the same period.
You may also like: multi timeframe moving average indicator - excellent alternative for script users on MetaTrader 4.
Source Code
#define magicma 20140101
extern double lots = 0.01;
extern double maximumrisk = 0.0025;
extern double decreasefactor = 10;
extern int movingperiod = 89;
extern int movingperiod2 = 34;
extern int movingshift = 0;
extern int movingshift2 = 0;
extern int stoploss = 100;
extern double wr = 6;.......
⚠ 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.