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20 pips opposite last n hour trend
Info
The 20 pips opposite last n hour trend is a Expert Advisor for MetaTrader 5 that trading against the trend direction as of n hours ago. only one position a day can be opened at a certain hour.
Usage
This tool is typically used for trend following strategies across multiple currency pairs.
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 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.
What this tool does
trading against the trend direction as of n hours ago.
Typical Use Case
This Expert Advisor excels in trend following 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.
trading against the trend direction as of n hours ago. only one position a day can be opened at a certain hour.
Also recommended: 20/200 pips: a simple and profitable expert advisor - similar expert with strong performance on MetaTrader 5.
input parametersmax 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.
You may also like: 10 pips - excellent alternative for expert users on MetaTrader 5.
Source Code
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⚠ 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.