Candle shadow percent
This software component for MetaTrader 5 is built to enhance the capabilities of your trading environment. 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 Candle shadow percent
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 Expert Advisor is based on the indicator with the same name . Lot is calculated based on the risk value as a percentage of free margin.
Attention: in this Expert Advisor, it is assumed that the indicator is located in the
\Indicators\MyInd\Candels
\ folder, which is clear from OnInit()
You will need to edit the path to the indicator in OnInit, if it is located in another folder.
The Expert Advisor only performs actions at the moment of a new emergence, and it does not work inside the bar.
Position opening conditions:
if the value of the "Candle shadow percent" indicator on the bar indexed 1 in the 0 buffer ("BufferTop") is not equal to zero, i.e. an there is an arrow on this bar, Sell will be opened
if the value of the "Candle shadow percent" indicator on the bar indexed 1 in the 1 buffer ("BufferLow") is not equal to zero, i.e. an there is an arrow on this bar, Buy will be opened
Recommendations for debugging: first adjust parameters only for the upper shadow, then only for the lower shadow.
