breakdown
This professional-grade solution for MetaTrader 5 helps traders achieve greater efficiency in their daily workflow. This Expert Advisor serves as automated trading software. It is utilized to monitor financial markets and execute trades based on predefined algorithmic rules, enabling precise position management without the need for constant manual oversight.
How to Setup and Use breakdown
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.
Description & Settings
The EA works with pending Buy Stop and Sell Stop orders. At the start of the day, pending orders from the previous day are deleted. New Buy Stop and Sell Stop orders are placed at
Minimum distance
above High and below Low.
If a pending order is triggered and the position becomes profitable, trailing is applied to it.
When any of pending orders is triggered, the remaining pending order is removed. This is done in : DEAL_ENTRY_IN (market entry) is searched for.
Inputs
Stop Loss
- stop loss;
Take Profit
- take profit;
Trailing Stop
- trailing;
Trailing Step
- trailing step;
Minimum distance
- minimum indent from High and Low of the previous day;
Risk in percent for a deal from a free margin
- risk per trade;
magic number
- unique EA identifier.
EURUSD,M15:
