Disaster
This is a powerful addition to your MetaTrader 5 toolkit designed to optimize market analysis and performance. 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 Disaster
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 trading strategy is based on the observation, which shows that if the price crosses the MA chart and moves a certain distance, the price is likely to continue its movement in the same direction.
The EA uses pending Buy Stop and Sell Stop orders. Pending orders are modified to follow the current price at the specified
Distance from MA for setting a pending order
. An action is performed every
Timeout
seconds. The EA only trails pending orders. Once an order triggers and turns into a position, the position will no longer be modified.
Input Parameters
Stop Loss
Take Profit
Trailing Step
Distance from MA for setting a pending order
- minimum distance between the current price and the MA(590) indicator
Timeout
magic number
- unique Expert Advisor number.
Testing results for the last year (from 2017.01.01 to 2017.10.31) at the M1 timeframe:
USDCAD:
