10 pips eur u s d
Info
The 10 pips eur u s d is a Expert Advisor for MetaTrader 5 that the "10 points on eurusd" forex strategy has countless many variations and is somewhat similar to the strategy, and it also is used by many professional traders. therefore, good results can be obtained when combining it with a proper risk management.
Usage
This tool is typically used for automated trading on major forex pairs and gold.
Platform
This Expert Advisor works exclusively on MetaTrader 5 (both build 600+ and newer versions).
Setup
Place the downloaded file in MQL5/Experts folder via File ? Open Data Folder in MetaTrader 5.
How to Install and Use 10 pips eur u s d
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
the "10 points on eurusd" forex strategy has countless many variations and is somewhat similar to the strategy, and it also is used by many professional traders.
Typical Use Case
This Expert Advisor excels in automated trading and technical analysis on MetaTrader 5.
Compatible Platform & Setup
This Expert Advisor works on MetaTrader 5. Place the file in the MQL5/Experts folder and restart the terminal.
Description & Settings
Related: pipser ea: one-click trading expert advisor - another powerful expert for MetaTrader 5 traders.
the "10 points on eurusd" forex strategy has countless many variations and is somewhat similar to the strategy, and it also is used by many professional traders. therefore, good results can be obtained when combining it with a proper risk management.
Also recommended: 20/200 pips: a simple and profitable expert advisor - similar expert with strong performance on MetaTrader 5.
the essence of the "10 points on eurusd" strategy is as follows:the high and low breakout of the previous day are taken as the basis of the strategy. most traders believe that if the high of the previous day is broken, the price will go up, and vice versa for the low.
based on this, those two extremums are usually used as the stop loss levels.
therefore, if the low of the previous day is broken, the stop losses will trigger, and due to this the price movement will continue for a certain number of points. accordingly, the same rule applies to the high, but in the opposite direction.
knowing these facts, we will make our profit: open a buy trade at the breakout of the previous day's high and a sell trade at the breakout of the previous day's low.
but since other traders use the same 2 points as the support and resistance levels, the price does not always move in the direction of the previous day's high and low breakout. accordingly, there is a need to use a fixed stop loss value.
note:
recommended currency pair:
eurusd
placed pending orders are valid from 00.00 gmt to 00.00 gmt of the next day.
1. place 2 pending orders at 00.00 gmt — one buy order (above the high of the previous day + spread) and one sell order (below the low of the previous day - spread).
2. set take profit — 250 pips.
3. safety stop loss — 50 pips.
4. important peculiarity: consider only the first intersection of high or low during the trading day (i.e., if pending orders closed by stop loss or take profit, do not place any more orders that day)
tips:
recommended risk is 2-5% of the deposit per trade.
You may also like: 10 pips - excellent alternative for expert users on MetaTrader 5.
Source Code
/.......
⚠ 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.