An Expert Advisor, based on the "Puria method" Forex Strategy
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 An Expert Advisor, based on the "Puria method" Forex Strategy
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
Depending on the timeframe selected (H1 or M30,see above) we attach 3 moving averages on the chart:
Moving Average 1:
MA period - 85, MA method - Linear Weighted, applied to Low, select red color.
Moving Average 2:
MA period - 75, MA method - Linear Weighted, applied to Low, select red color.
Moving Average 3:
MA period - 5, MA method - Exponential, applied to Close, select blue color.
Also attach
the MACD indicator with the following parameters
: Fast EMA=15, Slow EMA=26, MACD SMA=1.
All these indicators are available in any MetaTrader 5 client terminal.
The recommended currency pairs and timeframes for use in "Puria method" strategy are listed below:
AUDJPY - M30 - 15 points (i.e. the deal should be closed at 15 pips of Take Profit);
NZDUSD - 1H - 25 points;
USDCAD - H1 - 20 points;
EURGBP - H1 - 10 points;
USDJPY - M30 - 15 points;
GBPUSD - М30 - 20 points;
USDCHF - M30 - 10 points;
EURCHF - H1 - 15 points;
AUDUSD - M30 - 10 points;
EURJPY - M30 - 15 points;
CHFJPY - 1H - 15 points;
CADJPY - M30 - 20 points;
EURUSD - M30 - 15 points.
Trading rules:
Sell when
the blue MA crossed two red MAs from above to below
and the signal is confirmed by MACD indicator (one bar is closed below the Zero Level).
Buy when
the blue MA crossed two red MAs from below to above
and the signal is confirmed by MACD indicator (one bar is closed above the Zero Level)
Use maximal Stop-Loss value is 14 pips.
The recommended value of Take Profit
- is dependent on the currency pair (see above).
