EA Stochastic
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 EA Stochastic
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
Idea by
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MQL5 code by
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The EA trades based on indicator Stochastic. Take Profit and Stop Loss levels can be disabled (the value "0" is set in properties). The size of a position can be set manually (the EA will trade with a permanent lot size), or the lot size can be calculated automatically (as the risk percentage per trade).
Input parameters
Stop Loss
- Stop Loss;
Take Profit
- Take Profit;
Trailing Stop
- trailing;
Trailing Step
- trailing step;
Lots
- position size is permanent, "Risk" must be equal to zero;
Risk
- position size is calculated automatically in risk percents per trade, and "Lots" must be equal to zero;
Stochastic: K-period
- K-period (number of bars for calculations);
Stochastic: D-period
- D-period (initial smoothing period);
Stochastic: final smoothing
- final smoothing;
Stochastic: type of smoothing
- smoothing type;
Stochastic: stochastic calculation method
- type of prices;
Stochastic signal (level UP)
- (upper) signal line of stochastic;
Stochastic signal (level DOWN)
- (lower) signal line of stochastic;
Compared bar
- number of the bar, which the zeroth bar is compared to;
magic number
- unique identifier for the EA.
Example of EA launch on EURUSD,M15:
