20/200 pips: a simple and profitable expert advisor
Info
The 20/200 pips: a simple and profitable expert advisor is a Expert Advisor for MetaTrader 5 that a popular trading strategy, known as the '20/200 pips' expert advisor, has been adapted for mql5. this expert advisor employs a straightforward trading rule: it observes the price difference over a specific time frame.
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 pips: a simple and profitable expert advisor
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
a popular trading strategy, known as the '20/200 pips' expert advisor, has been adapted for mql5.
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: 20/200 expert v 4. 2 ant s - another powerful expert for MetaTrader 5 traders.
a popular trading strategy, known as the '20/200 pips' expert advisor, has been adapted for mql5.Also recommended: exp force diver sign - similar expert with strong performance on MetaTrader 5.
this expert advisor employs a straightforward trading rule: it observes the price difference over a specific time frame. if the price difference is negative and greater than a predefined bias, it initiates a sell order; otherwise, it places a buy order.
the name '20/200 pips' refers to the fixed takeprofit and stoploss values, which are set at 20 and 200 pips for 4-digit prices and 200 and 2000 pips for 5-digit prices, respectively.
while designed for eur/usd on a 1-hour timeframe, this expert advisor can be tested on other symbols.
it's important to note that the code lacks error-handling routines, making it unsuitable for live trading without modifications. the parameters were optimized for the period 2022-2026, and while they may not be optimal for the present, the strategy remains profitable over the long term.
input parameters:
- takeprofit: 200 pips (for 5-digit prices)
- stoploss: 2000 pips (for 5-digit prices)
- tradetime: 18 gmt
- t1: 7 (index for the first open price)
- t2: 2 (index for the second open price)
- delta: 70 (bias for price difference between open[t1] and open[t2])
- lot: 0.1
for 4-digit prices, adjust the values as follows:
- takeprofit: 20 pips
- stoploss: 200 pips
- tradetime: 18 gmt
- t1: 7
- t2: 2
- delta: 7
- lot: 0.1
for more details on this trading system and its historical performance, refer to the provided resources.
You may also like: exp xw p r histogram vol direct - excellent alternative for expert users on MetaTrader 5.
Source Code
#property copyright "robotfx"
#property link "https://robotfx.org"
#property version "1.00"
input int takeprofit=200;
input int stoploss=2000;
input int tradetime=18;
input int t1=7;
input int t2=2;
input int delta=70;
input double lot=0.1;.......
⚠ 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.