20 200 Expert Advisor: A Simple Price Action Strategy
Info
The 20 200 Expert Advisor: A Simple Price Action Strategy is a Expert Advisor for MetaTrader 5 that this expert advisor (ea) employs a straightforward price action strategy, opening positions based on price movement and managing risk through lot size adjustments. The EA's logic is as follows:- If the price rises, it's a buy signal; if it falls, it's a sell signal.
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 20 200 Expert Advisor: A Simple Price Action Strategy
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
This Expert Advisor (EA) employs a straightforward price action strategy, opening positions based on price movement and managing risk through lot size adjustments.
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: Market Miner Expert Advisor - another powerful expert for MetaTrader 5 traders.
This Expert Advisor (EA) employs a straightforward price action strategy, opening positions based on price movement and managing risk through lot size adjustments.Also recommended: Weekly Day Reversal Expert Advisor - similar expert with strong performance on MetaTrader 5.
The EA's logic is as follows:
- If the price rises, it's a buy signal; if it falls, it's a sell signal.
- When a loss occurs, the lot size is increased.
- Price movement is determined by comparing the open prices of two bars with shifts t1 and t2.
- If the price difference exceeds delta_l for a buy or delta_s for a sell, a position is opened.
The EA's performance can be visualized in the strategy tester, as demonstrated in the provided image. Fig. 2 showcases the tester's results, while Fig. 1 displays the deals executed by the EA.
Parameters:
- t1: First bar shift.
- t2: Second bar shift.
- delta_l: Price difference threshold for a long (buy) position.
- delta_s: Price difference threshold for a short (sell) position.
- takeprofit_l: Take profit value in points for a long position.
- stoploss_l: Stop loss value in points for a long position.
- takeprofit_s: Take profit value in points for a short position.
- stoploss_s: Stop loss value in points for a short position.
- lots: Initial position volume when autolot is disabled.
- autolot: Enables proportional lot size adjustment.
- biglotsize: Multiplier for lot size after a loss.
- onemult: Determines whether lot size is multiplied after each loss or only once.
- tradetime: Hour of entry into the trading market.
- maxopentime: Maximum position duration in hours.
You may also like: Simple EMA Cross Expert Advisor with Stop Loss, Take Profit, and Magic Number - excellent alternative for expert users on MetaTrader 5.
Source Code
#property copyright "robotfx"
#property link "https://robotfx.org"
#property description "this code is educational. feel free to use, modify and upgrade as you wish. visit robotfx.org for professional trading tools"
#property version "1.00"
#include <trade/trade.mqh>
#include <trade/symbolinfo.mqh>
#include <trade/dealinfo.mqh>
#include <trade/positioninfo.mqh>
#include <trade/accountinfo.mqh>
ctrade trade;.......
⚠ 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.