absorption
Info
The absorption is a Expert Advisor for MetaTrader 5 that idea by:. mql5 code by:.
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 absorption
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
idea by:.
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: Trade Adjustment Panel for MT5 - another powerful expert for MetaTrader 5 traders.
idea by
: .
mql5 code by
: .
the ea trades with the absorption pattern. it places pending orders buy stop and sell stop. it can move a position to a breakeven, as well as trailing. individual take profit settings for buy and sell.
Also recommended: auto trader - similar expert with strong performance on MetaTrader 5.
absorption in bar #2:absorption in bar #1
inputs
lots
- volume of the pending order to be placed;
take profit buy
- take profit for the buy stop of pending orders;
take profit sell
- take profit for the sell stop of pending orders;
trailing stop
(in pips) - trailing;
trailing step
(in pips) - trailing step;
indent from high or low
- indent from the extreme (high or low) found;
number of bars to search for price extremes
- number of bars for searching for extremes;
expiration a pending order in hours
- life time of the pending order, in hours;
magic number for signal 1
- identifier for positions on trades for signal 1;
magic number for signal 2
- identifier for positions on trades for signal 2;
breakeven (in pips) ("0" -> parameter "breakeven" is off)
- breakeven (for how many pips to move the stop loss);
breakeven profit (in pips)
- a profit, at achieving which the stop loss must be moved to breakeven.
test in the "every tick based on real ticks" tick generation mode for gbpusd,h1 from 2018.01.01 to 2018.04.25:
You may also like: autotrade - 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.