doji arrows
Info
The doji arrows is a Expert Advisor for MetaTrader 5 that idea by:. mql5 code by:.
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 doji arrows
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
idea by:.
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: Exp Arrows Curves - another powerful expert for MetaTrader 5 traders.
idea by
: .
mql5 code by
: .
the ea trades by the doji pattern:
at the same time, you can set the candlestick body size in the "size of a body of a candle (open close)" parameter.
Also recommended: exp trend arrows - similar expert with strong performance on MetaTrader 5.
operation algorithmthe ea analyzes bar #2 and bar #1 when a new bar appears. if bar #2 is doji, then the following signals are checked:
close#1 > high#2 → signal for opening a buy;
close#1 < low#2 → signal for opening a sell. inputs
lots (if "0" → the parameter "risk" will be used)
- a lot value that is set manually. if you set to "0", then the parameter of "risk" will work, i.e., risk in percents of free margin per a trade;
stop loss (in pips)
- stop loss; if you set it to "0", the parameter will be disabled;
take profit (in pips)
- take profit; if you set it to "0", the parameter will be disabled;
trailing stop (in pips)
- trailing, if you set it to "0", the parameter will be disabled;
trailing step (in pips)
- trailing step;
risk (if "0" → the parameter "lots" will be used)
- risk in percents of free margin per trade;
size of a candle (open close)
- candlestick body size;
magic number
- unique identifier for the ea.
if "size of a candle" = 0, then there will be just a few trades (about 15-30) on h1 over the year, and profitability as follows:
if you set this parameter to 1, then the number of trades will increase tenfold, and the profit will be distributed as follows:
You may also like: doji trader - excellent alternative for expert users on MetaTrader 5.
Source Code
/.......
⚠ 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.