CCI and MACD Trading Expert Advisor
Info
The CCI and MACD Trading Expert Advisor is a Expert Advisor for MetaTrader 5 that this expert advisor operates using two indicators: the commodity channel index (cci) and the moving average convergence/divergence (macd). Input Parameters:- macd_coefficient: An integer value used for aligning CCI and MACD values.
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 MACD 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 operates using two indicators: the Commodity Channel Index (CCI) and the Moving Average Convergence/Divergence (MACD).
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: Tick Scalper Helper: Tick Chart and One-Click Trading Panel for MT5 - another powerful expert for MetaTrader 5 traders.
This Expert Advisor operates using two indicators: the Commodity Channel Index (CCI) and the Moving Average Convergence/Divergence (MACD).Also recommended: Basket Pair Closer: Efficiently Close Trading Positions - similar expert with strong performance on MetaTrader 5.
Input Parameters:
- macd_coefficient: An integer value used for aligning CCI and MACD values.
The EA provides clear, visual feedback on the indicator values obtained.
Trading Logic:
The Expert Advisor implements a unique trading strategy by tracking the balance of profitable and unprofitable trades. A variable, `number_of_losses`, is incremented for each trade closed at a loss and decremented for each trade closed at a profit.
Lot Size Calculation:
When opening a new position, the lot size is determined as follows:
- If `number_of_losses` is greater than 0 (indicating more losses than profits), the lot size is increased by the `increase` coefficient, calculated using `extlot=inplot*mathpow(2,increase)`.
- If `number_of_losses` is less than or equal to 0 (indicating more profits than losses or an equal balance), the lot size is set according to the `inplot` coefficient (`extlot=inplot`).
Backtesting Results:
Testing was conducted on the EURUSD currency pair, M30 timeframe, from 2016.06.09 to 2016.12.04, with an initial deposit of 3000.
You may also like: CME Equity Index Futures Holiday Calendar and Trading Halt Automation - 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.