Automated Trading with Line Crossovers
Info
The Automated Trading with Line Crossovers is a Expert Advisor for MetaTrader 5 that this expert advisor (ea) manages trades by opening or closing positions when price lines intersect. The EA features four configurable lines: 'line buy', 'line sell', and two 'close' lines.
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 Automated Trading with Line Crossovers
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) manages trades by opening or closing positions when price lines intersect.
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: Tick Scalper Helper: Tick Chart and One-Click Trading Panel for MT5 - another powerful expert for MetaTrader 5 traders.
This Expert Advisor (EA) manages trades by opening or closing positions when price lines intersect.Also recommended: Basket Pair Closer: Efficiently Close Trading Positions - similar expert with strong performance on MetaTrader 5.
The EA features four configurable lines: 'line buy', 'line sell', and two 'close' lines.
Your role is to position these lines to define specific trading actions: Buy, Sell, or Close.
Trades are initiated or concluded when the ask price is above the relevant line and the bid price is below, indicating a price line cross.
The included figure illustrates a trading example.
The number of active lines can be adjusted using the following external variables:
- draw_sell: Enables the sell line.
- draw_buy: Enables the buy line.
- draw_close1: Enables the first close line.
- draw_close2: Enables the second close line.
Additional external variables include:
- lot: Specifies the lot size for trades.
- order: Sets the maximum number of open orders.
The close lines can also function as a trailing stop when set at a specific angle.
You may also like: CME Equity Index Futures Holiday Calendar and Trading Halt Automation - 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.