EA AML
Info
The EA AML is a Expert Advisor for MetaTrader 5 that this expert advisor operates based on the aml indicator. It generates a buy signal when a bar closes above the indicator line (while opening below the line) and a sell signal when a bar closes below the indicator line (while opening above the line).
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 EA AML
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 based on the AML indicator.
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: Quantora Trade Manager MT5: Advanced Position Management - another powerful expert for MetaTrader 5 traders.
This expert advisor operates based on the AML indicator. It generates a buy signal when a bar closes above the indicator line (while opening below the line) and a sell signal when a bar closes below the indicator line (while opening above the line).Also recommended: Quantora Break Even Manager MT5 - Automated Stop Loss Protection - similar expert with strong performance on MetaTrader 5.
Tester report on all ticks for EURUSD starting from 2022 without the lot increase.
With the lot increase (max. lot limit = 50.0)
All expert advisor parameters (except for the indicator settings) are inactive when set to 0. The expert advisor includes a built-in function to set the maximum allowable lot when exceeding your DC limit.
Key settings:
- SL/TP are set after opening a position.
- n_modify_sltp: Sets the number of attempts to set SL/TP in case of failure.
- use_opposite: Reverses the position when the signal changes.
- max_drawdown: Function for lot increase relative to the given drawdown in the currency of the deposit. It should be set to a value no less than the max. equity drawdown.
This expert advisor can serve as a foundation for a stable and profitable trading robot.
You may also like: Professional Automatic Trailing Stop Utility for MetaTrader 5 - excellent alternative for expert users on MetaTrader 5.
Source Code
#property copyright "robotfx"
#property link "https://robotfx.org"
input string section_1 = "======== trade options";
input double lots = 0.1; // lots
input double tp = 3500; // tp
input double sl = 500; // sl
input int slippage = 45; // slippage
input int magic = 20120830; // magic
input int n_modify_sltp = 7; // n_modify_sltp
input bool use_opposite = true; // use_opposite.......
⚠ 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.