AM A Trader
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 AM A Trader
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
The EA considers iAMA (Adaptive Moving Average, AMA) and iRSI (Relative Strength Index, RSI) indicators when generating a trading signal. The signal itself is formed in two steps. Let's illustrate this using "Open Buy" signal as an example:
Step 1: RSI should be less than level 30 (set in the
RSI Level Down
EA parameter). Step 2: Price should overcome AMA indicator.
Step Length
(distance in bars between Step 1 and 2) is introduced to find the optimal combination of the two indicators.
Martingale
In case of an incoming trading order, request profit for BUY abd SELL positions separately. In case of an incoming trading order:
"Open Buy"
if profit on BUY positions is less than 0.0, open two BUY positions
otherwise, open one BUY position
"Open Sell"
if profit on SELL positions is less than 0.0, open two SELL positions
otherwise, open one SELL position
Managing funds
For a change, I applied the following funds management system here:
Profit limit for close all
- when reaching a total profit for positions opened by the EA on the symbol, close all positions. In other words, we fix profit.
Remember the trading account balance during the EA launch. As soon as the trading account's current balance exceeds the saved balance by
Withdrawal
- withdraw the
Withdrawal
sum and close all positions.
EURUSD, M5:
