BW-Wise Man-1 Expert Advisor
Info
The BW-Wise Man-1 Expert Advisor is a Expert Advisor for MetaTrader 5 that a trading system utilizing the semaphore signal indicator. Trade decisions are executed when colored diamonds appear.
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 BW-Wise Man-1 Expert Advisor
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
A trading system utilizing the Semaphore Signal indicator.
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: three neural networks - another powerful expert for MetaTrader 5 traders.
A trading system utilizing the Semaphore Signal indicator.Trade decisions are executed when colored diamonds appear. The direction of these diamonds is determined by the expert advisor's input parameter.
Also recommended: e-turbo fx - similar expert with strong performance on MetaTrader 5.
The TradeAlgorithms.mqh library enables the use of this expert advisor with brokers offering non-zero spreads and the ability to set stop loss and take profit concurrently with position opening.The generated expert advisor requires the compiled "bw-wiseman-1.ex5" indicator file. Please place this file in the terminal_data_folder\mql5\indicators directory.
Figure 1 displays historical trade instances on the chart.
Testing Results for 2014 on GBPUSD H4:
Figure 2. Chart of Testing Results
You may also like: sync chart - excellent alternative for expert users on MetaTrader 5.
Source Code
#property copyright "robotfx"
#property link "https://robotfx.org"
#property version "1.00"
#include <tradealgorithms.mqh>
input double mm=0.1; // share of a deposit in a deal
input marginmode mmmode=lot; // lot value calculation method
input int stoploss_=1000; // stop loss in points
input int takeprofit_=2000; // take profit in points
input int deviation_=10; // max. price deviation in points
input bool buyposopen=true; // permission to buy.......
⚠ 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.