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AO Lightning
Info
The AO Lightning is a Expert Advisor for MetaTrader 5 that the ea utilizes the awesome oscillator indicator, opening orders at each bar and closing them by group upon receiving the opposite signal. The indicator is coded within the EA, allowing for period adjustments during optimization.
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 AO Lightning
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
The EA utilizes the Awesome Oscillator indicator, opening orders at each bar and closing them by group upon receiving the opposite signal.
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: AI S2 Trading Robot - another powerful expert for MetaTrader 5 traders.
The EA utilizes the Awesome Oscillator indicator, opening orders at each bar and closing them by group upon receiving the opposite signal. The indicator is coded within the EA, allowing for period adjustments during optimization.Also recommended: reversing martingale ea - similar expert with strong performance on MetaTrader 5.
Buy signals are triggered when the histogram shifts downward, turns red, and the second column surpasses the first. Conversely, sell signals occur when the histogram moves upward, turns green, and the second column falls below the first.
Inputs:
- Lotfixed: Lot size.
- Lotfrompercent: Percentage to calculate the lot of free margin (disabled if set to 0).
- Period_sma_slow: Slow moving average period for the AO indicator.
- Period_sma_fast: Fast moving average period for the AO indicator.
- Orders: Maximum number of orders to be placed.
Tested on EURUSD, H1.
You may also like: Executor Candles - excellent alternative for expert users on MetaTrader 5.
Source Code
#property copyright "robotfx"
#property link "https://robotfx.org"
#property version "1.00"
#include <trade\trade.mqh>
input double lotfixed=0.01; //lots
input int lotfrompercent=0; //lot from percent
input int period_sma_slow=5; //period sma slow
input int period_sma_fast=34; //period sma fast
input int orders=10; //orders max
input int magic=5632; //magic number .......
⚠ 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.