ASC Trend Expert Advisor for MT5
Info
The ASC Trend Expert Advisor for MT5 is a Expert Advisor for MetaTrader 5 that this expert advisor (ea) is an automated trading solution based on a manual trading system. It is designed for the MetaTrader 5 (MT5) platform and utilizes specific indicators to execute trades.
Usage
This tool is typically used for trend following strategies across multiple currency pairs.
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 ASC Trend Expert Advisor for MT5
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
This Expert Advisor (EA) is an automated trading solution based on a manual trading system.
Typical Use Case
This Expert Advisor excels in trend following 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: Steep MA Trend EA - another powerful expert for MetaTrader 5 traders.
This Expert Advisor (EA) is an automated trading solution based on a manual trading system. It is designed for the MetaTrader 5 (MT5) platform and utilizes specific indicators to execute trades.Also recommended: Super Trend Trading EA - similar expert with strong performance on MetaTrader 5.
Features:
- Operates on the current symbol and timeframe only.
- Implements a stop-loss strategy based on the ASCTrend signal.
- Does not use take-profit; instead, it relies on a trailing stop for exit management.
- Fixed volume for position sizing; money management is not implemented.
- Basic error handling is included.
Known Limitations:
- Not compatible with ECN brokers or market execution types.
- Should not be used alongside other EAs or manual trading on the same account.
Installation:
- Download the EA and the required indicators: ASCTrend, NRTR Color Line, and TrendStrength Indicator.
- Place the indicators in the Indicators folder: \Metatrader 5\MQL5\Indicators.
- Place the EA in the Experts folder: \Metatrader 5\MQL5\Experts.
- Compile the indicators and EA using MetaEditor, or restart the MT5 platform to ensure the files are recognized.
You may also like: Market Miner Expert Advisor - excellent alternative for expert users on MetaTrader 5.
Source Code
/*
trading strategy based on asctrend indicator as main signal,
filtered by nrtr indicator (see http://www.mql5.com/en/forum/10741)
* only for current symbol and timeframe
* stoploss based on asctrend signal,
* no takeprofit, exit based on trailing stop
* money management not yet implemented (only fixed volume)
* very basic error management
1.01 correction of littles bugs.
1.02 add of trendstrength as filter.......
⚠ 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.