Doji Trader
This software component for MetaTrader 5 is built to enhance the capabilities of your trading environment. 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 Doji Trader
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 Expert Advisor trades using the Japanese Candlestick pattern.
The Doji candlestick has practically no body, it only has shadows. But this code provides the "Maximum Doji height" setting, in which you can set the height of the candlestick body.
Only one open position is allowed. If the EA accidentally opens more than one position, all positions will be closed. The EA performs trading operations on a new bar (when a new bar emerges), and checks the previous three bars (skipping the zero bar). If a "doji" like bar is detected, a signal to open a position is generated.
Input Parameters
Lots
- position volume;
Stop Loss (in pips)
- Stop Loss value;
Take Profit (in pips)
- Take Profit value;
Start hour
- trading start time;
End hour
- trading end time;
Maximum Doji height
- the maximum height of the Doji candlestick;
magic number
- Expert Advisor identifier.
Example of testing on EURUSD, H1:
