Binario
Info
The Binario is a Expert Advisor for MetaTrader 5 that working with pending orders buy stop and sell stop. A channel of two indicators IMA (Moving Average, MA).
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 Binario
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
Working with pending orders buy stop and sell stop.
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: Bollinger Bands EA with RSI Overbought/Oversold Zones - another powerful expert for MetaTrader 5 traders.
Working with pending orders buy stop and sell stop. A channel of two indicators IMA (Moving Average, MA).Also recommended: Prop Guard: Account Risk Manager for Proprietary Trading Firms - similar expert with strong performance on MetaTrader 5.
Input Parameters
- Take Profit
- Trailing Stop
- Trailing Step
- Lots: Lot size is set manually (a necessary condition: risk must be equal to zero).
- Risk: Lot size is calculated automatically, in risk percents per trade (a necessary condition: "Lots" must be equal to zero).
- Difference: Offsets from the channel borders.
- Expert Every Tick: Enable/disable working on every tick.
- MA Price_High and Price_Low: Averaging Period - Indicators averaging period.
- MA Price_High and Price_Low: Horizontal Shift - Indicators horizontal shift.
- MA Price_High: Smoothing Type - Averaging type for indicator calculated by high prices.
- MA Price_Low: Smoothing Type - Averaging type for indicator calculated by low prices.
- Magic Number: Unique identifier for the EA.
Trading Idea
Forming a channel of two indicators IMA (Moving Average, MA) - one based on prices Price_High and another on Price_Low. Pending buy stop and sell stop orders are placed at the channel borders. The calculation is on the breakthrough (catching a strong movement).
The EA can work in modes: on every tick and only when a new bar appears. The mode is defined by the parameter "Expert Every Tick".
An example of how the "Expert Every Tick" parameter affects the EA operation, exemplified by EURUSD, D1:
Please note that this strategy may have dead seasons, i.e., times without any entrances, the period of no rollbacks for a currency pair.
You may also like: Patterns EA - 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.