A Code block to detect A "New Candle/Bar" using bars history (very effective way)
Info
The A Code block to detect A "New Candle/Bar" using bars history (very effective way) is a Expert Advisor for MetaTrader 5 that in previous code i used thetimeto detect a new bar. This time let's use the bars countto detect a new bar.
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 A Code block to detect A "New Candle/Bar" using bars history (very effective way)
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
In previous code I used thetimeto detect a new bar.
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: Pro MA Crossover EA for MT5 - Free Source Code and Template - another powerful expert for MetaTrader 5 traders.
Also recommended: OB Trader Order Block Strategy tester - similar expert with strong performance on MetaTrader 5.
In previous code I used thetime
to detect a new bar. This time let's use the
bars count
to detect a new bar. it's way
lighter and faster
than using the time method.
Declare the variables in
integer
data type to store the bar counts.
Assign the bars count for the
"BarsTotal_OnInt"
at the initialization.
Use
iBars();
function to assign the bars count for the
"BarsTotal_OnTick"
variable at live chart. This variable is updated on
every tick.
Use
comments
and
alerts
to check the code accuracy.
You may also like: Viral (1 M+ views) 4 Hour Range Strategy coded and tested - excellent alternative for expert users on MetaTrader 5.
⚠ 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.