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 Chande Exit Sign Reopen Expert Advisor with Trend Following Scaling Expert for MetaTrader 5

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Chande Exit Sign Reopen Expert Advisor with Trend Following Scaling

Info

The Chande Exit Sign Reopen Expert Advisor with Trend Following Scaling is a Expert Advisor for MetaTrader 5 that the chande exit sign reopen trading system utilizes trend-following signals for position scaling. A signal is generated when a closing bar displays a colored indicator arrow.

Usage

This tool is typically used for trend following strategies across multiple currency pairs.

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 Chande Exit Sign Reopen Expert Advisor with Trend Following Scaling

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

The Chande Exit Sign Reopen trading system utilizes trend-following signals for position scaling.

Typical Use Case

This Expert Advisor excels in trend following 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: Smart Loss Exit: Proactive Exit for Losing Trades - another powerful expert for MetaTrader 5 traders.

The Chande Exit Sign Reopen trading system utilizes trend-following signals for position scaling. A signal is generated when a closing bar displays a colored indicator arrow. The Expert Advisor then scales the volume of an open position if the profit points of the last trade within that position exceed a defined threshold set in the EA's input parameters.

Also recommended: Trade History Logger: Recording Market Context at Entry and Exit - similar expert with strong performance on MetaTrader 5.

Scaling information for a position is recorded in the trade comment string, formatted as: scales_count / last_deal_price / last_deal_volume.

To ensure proper compilation, save the compiled chandelexitsign.ex5 file into the \mql5\indicators directory. However, after compilation, the exp_chandelexitsign_reopen.ex5 file embeds the chandelexitsign.ex5 indicator as a resource. Therefore, the indicator file is not required in the terminal folder for the compiled EA to function independently. This integration is achieved by incorporating the necessary code within the EA itself.

The indicator executable file has been included as a resource within the global scope of the EA. String paths to these embedded indicators have been updated in the oninit() function block.

Consequently, the compiled Expert Advisor file can be used on other trading terminals without requiring separate indicator installations.

The default Expert Advisor input parameters were used for the tests presented below. Stop Loss and Take Profit levels were not applied during these tests.

Figure 1. Examples of trades on the chart.

Testing results for USDCAD H8 in 2026:
Figure 2. Chart of testing results.

You may also like: Sound Alert for Position Entry and Exit - 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.