autotrade
Info
The autotrade is a Expert Advisor for MetaTrader 5 that two pending orders (buystop and sellstop) are placed with the specified expiration. operation start placing two pending orders:then we expect operation with only one position — if two positions are opened for any reason, both of them should be deleted:managing the open position.
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 autotrade
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
two pending orders (buystop and sellstop) are placed with the specified expiration.
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: autotrader momentum - another powerful expert for MetaTrader 5 traders.
two pending orders (buystop and sellstop) are placed with the specified expiration.
operation start
placing two pending orders:
Also recommended: pipsover - similar expert with strong performance on MetaTrader 5.
then we expect operation with only one position — if two positions are opened for any reason, both of them should be deleted:managing the open position.
first we check if minimum profit is reached. at the same time, the size of bar 1 must be less than "stabilization of points". if the condition is met, close the position and exit.
second check — checking simultaneously if absolute profit or loss is reached. if condition is met, close the position.
results on eurusd, h1 from 2016.06.01 to 2016.12.21:
You may also like: plan x - 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.