20/200 pips - Simple profitable Expert Advisor
This professional-grade solution for MetaTrader 5 helps traders achieve greater efficiency in their daily workflow. 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 20/200 pips - Simple 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.
Description & Settings
A well-known "20/200 pips" Expert Advisor is now available in MQL5.
The code is well commented.
The trading rules are:
At some moment we look at the price difference for a certain time. If the price difference is negative and greate than some specified bias, we sell, if it positive, we buy.
It's named 20/200 pips" because it uses a fixed values of TakeProfit/StopLoss (20/200, 4-digit prices). For 5 digit prices the TP/SL ratio is 200/2000.
The Expert Advisor is designed for EUR/USD 1H, but you can try it at other symbols.
Note that code doesn't have any error processing rountines, so it cannot be used in real trading in its current form. The values of Expert Advisor parameters have been optimized for 1999-2006, so at present time the parameters aren't optimal. But even using the old parameters it's profitable in long term trading:
The input parameters are (5-digit prices):
TakeProfit=200; // Take Profit in pips
StopLoss=2000; // Stop Loss in pips
TradeTime=18; // Trade time GMT
t1=7; // First Bar index for Open price, for example Open[t1].
t2=2; // Second Bar index for Open price, for example Open[t2].
delta=70; // Bias of Price Difference between the bars Open[t1] and Open[t2] for trading signals
lot=0.1; // Lot size
For 4 digit prices the values should be changed to:
TakeProfit=20; // Take Profit in pips
StopLoss=200; // Stop Loss in pips
TradeTime=18; // Trade time GMT
t1=7; // First Bar index for Open price, for example Open[t1].
t2=2; // Second Bar index for Open price, for example Open[t2].
delta=7; // Bias of Price Difference between the bars Open[t1] and Open[t2] for trading signals
lot=0.1; // Lot size
The information about this trading system, its history and improvement details you can find .
