EMA and WMA Crossover Strategy
Info
The EMA and WMA Crossover Strategy is a Expert Advisor for MetaTrader 5 that this strategy utilizes two moving averages: wma 8 and ema 28. When the WMA crosses the EMA from below, open an upward position.
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 EMA and WMA Crossover Strategy
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 strategy utilizes two moving averages: WMA 8 and EMA 28.
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: Strategy Tester Report Parser for Deals and Trades - another powerful expert for MetaTrader 5 traders.
This strategy utilizes two moving averages: WMA 8 and EMA 28.Also recommended: Fx Craft Example EA: MA Cross Strategy Explained - similar expert with strong performance on MetaTrader 5.
When the WMA crosses the EMA from below, open an upward position. Conversely, when the WMA crosses the EMA from above, open a downward position.
Once a position is opened, set the following orders:
- Take profit: 50 points from the open price.
- Stop loss: 50 points from the open price, including the spread.
Tips:
- Trade with a fixed deposit size of 10% and leverage of 1:100.
- This strategy may not be suitable for all currency pairs.
If the trend reverses and the WMA crosses the EMA in the opposite direction of the opened position, consider opening a new position in the direction of the trend and closing the previous one. Remember to manage orders accordingly.
Input Parameters:
- EMA: Averaging period for the EMA.
- WMA: Averaging period for the WMA.
- Stoploss: Stop loss value in points.
- Takeprofit: Take profit value in points.
- Trailing stop: Trailing stop value.
- Trailing step: Trailing step value.
- Risk: Risk value for position sizing.
You may also like: Moving Average Crossover Expert Advisor - 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.