How do I install this Expert on MetaTrader 5?

Download the file, open MetaTrader 5 -> File -> Open Data Folder, copy the file to the correct folder (Experts / Indicators / Scripts / Libraries), then restart the terminal.

How do I activate / load this Expert?

Drag the Expert Advisor from the Navigator panel onto a chart, enable AutoTrading, and allow live trading in the settings.

Is this compatible with MetaTrader 5?

Yes, this Expert is built specifically for MetaTrader 5.

Is this Expert safe to use with real money?

All tools are provided for educational and testing purposes. We strongly recommend testing on a demo account first. Trading involves significant risk of loss.

Can I use this Expert on multiple charts?

Yes, but each chart can only run one Expert Advisor at a time. You can run multiple EAs on different charts.

Can I customize the settings of this Expert?

Yes. Right-click on the chart and select properties to open and adjust parameters.

Free CCI and Awesome Oscillator Trading Expert Advisor Expert for MetaTrader 5

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CCI and Awesome Oscillator Trading Expert Advisor

Info

The CCI and Awesome Oscillator Trading Expert Advisor is a Expert Advisor for MetaTrader 5 that this expert advisor (ea) trades using signals generated by the commodity channel index (cci) and awesome oscillator (ao) indicators. It also incorporates open prices from the current bar (bars #0 to #5), the previous day's close price on the Daily chart (bar #1 on D1), and the previous hour's close price on the Hourly chart (bar #1 on H1).

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 CCI and Awesome Oscillator Trading 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

This Expert Advisor (EA) trades using signals generated by the Commodity Channel Index (CCI) and Awesome Oscillator (AO) indicators.

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: MQL5 Wizard: Trading Signals with Morning/Evening Stars and Stochastic Oscillator - another powerful expert for MetaTrader 5 traders.

This Expert Advisor (EA) trades using signals generated by the Commodity Channel Index (CCI) and Awesome Oscillator (AO) indicators. It also incorporates open prices from the current bar (bars #0 to #5), the previous day's close price on the Daily chart (bar #1 on D1), and the previous hour's close price on the Hourly chart (bar #1 on H1).

Also recommended: Blue Stochastic Oscillator Trading System MT5 - similar expert with strong performance on MetaTrader 5.

Inputs

- Lots: Position volume.
- Stop Loss (in pips): Sets the stop loss level.
- Take Profit (in pips): Sets the take profit level.
- Trailing Stop (in pips): Activates and sets the trailing stop distance.
- Trailing Step (in pips): Defines the step for the trailing stop.

CCI Parameters:
- Averaging Period: The period for the CCI indicator's average calculation.
- Type of Price: The price type used for the CCI calculation.

Candlestick Checks:
- Check for too-big candlesticks (n - n-1): Protection mechanism comparing the current candlestick (n) with the previous one (n-1).
- Check for too-big candlesticks (n - n-2): Protection mechanism comparing the current candlestick (n) with the candlestick two bars prior (n-2).

Initial Bar Number: Set to 1 to use the close price of the initial bar, or 0 for the current bar.

Magic Number: A unique identifier for the EA's trades.

Note: The EA can be tested in 'Every Tick' mode for all symbols available in the Market Watch window.

You may also like: RSI Oscillator Moving Average Trading System - 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.