eBreakeven
Info
The eBreakeven is a Expert Advisor for MetaTrader 5 that this expert advisor (ea) is designed to manage positions by moving them to a breakeven point and then enabling trailing stop functionality. Key Features:- Trailing Stop: This feature allows you to set a trailing stop in pips, which will activate once the position reaches the breakeven point.
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 eBreakeven
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 (EA) is designed to manage positions by moving them to a breakeven point and then enabling trailing stop functionality.
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: Bill Williams Fractal Breakout Strategy - another powerful expert for MetaTrader 5 traders.
This Expert Advisor (EA) is designed to manage positions by moving them to a breakeven point and then enabling trailing stop functionality.Also recommended: vr rsi robot: multi-timeframe rsi trading strategy for metatrader 5 - similar expert with strong performance on MetaTrader 5.
Key Features:
- Trailing Stop: This feature allows you to set a trailing stop in pips, which will activate once the position reaches the breakeven point.
- Trailing Step: The trailing step determines the level at which the stop loss is moved to breakeven, also specified in pips.
- Magic Number: A unique identifier for the EA, ensuring it only manages positions opened by the same EA instance.
Usage:
The EA is straightforward to use. Simply attach it to a chart with the desired symbol and timeframe. The default parameters are:
- Trailing: X pips
- Trailing Step: Y pips
- Magic Number: Z
Replace X, Y, and Z with your preferred values.
You may also like: EMA 6.12 - excellent alternative for expert users on MetaTrader 5.
Source Code
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⚠ 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.