20 Pips Opposite Last N Hour Trend
This software component for MetaTrader 5 is built to enhance the capabilities of your trading environment. 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 Pips Opposite Last N Hour Trend
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
Trading against the trend direction as of N hours ago. Only one position a day can be opened at a certain hour.
Input Parameters
Max positions
- the maximum number of positions (values below 2 are not recommended);
Lots (if "Lots"<=0.0 -> use "Risk")
- position volume (if the value is set to 0 or less than 0, the position volume will be calculated as risk percent of free margin);
Take Profit
Risk in percent for a deal from a free margin
- risk per trade as percentage of free margin.
Lot maximum
- limit on the maximum lot size;
Hour when position should be opened
- specify the hour for opening a position;
Hours to check price difference to see a "trend"
- the number of hours ago to check the trend direction;
Lot multiplier, if one position is unprofitable
- lot increase ratio after one losing trade;
Lot multiplier, if two positions are unprofitable
- lot increase ratio after two losing trades in a row;
Lot multiplier, if three positions are unprofitable
- lot increase ratio after three losing trades in a row;
Lot multiplier, if four positions are unprofitable
- lot increase ratio after four losing trades in a row;
Lot multiplier, if five positions are unprofitable
- lot increase ratio after five losing trades in a row.
