EM A WM A
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 EM A WM A
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
Use two lines — WMA 8 and EMA 28.
When WMA crosses EMA from below — open upward position.
When WMA crosses EMA from above — open downward position.
Once the position is opened, set orders: Take Profit 50 points (from Open), Stop Loss 50 points (from Open + spread).
Tips
Trade using a fixed deposit size — 10% with a leverage of (1:100).
The system is not suitable for all currency pairs.
If the trend reversed and WMA crossed EMA in the direction opposite to the opened position — open a position in the direction of the trend, while closing the previous one (of course, the old orders should be deleted and new ones should be placed). Input Values
EMA: averaging period
- EMA parameter;
WMA: averaging period
- WMA parameter;
StopLoss
- stop loss value;
TakeProfit
- take profit value;
Trailing Stop
- trailing stop value;
Trailing Step
- trailing step value
Risk
- risk value used for position sizing.
