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evening star
Info
The evening star is a Expert Advisor for MetaTrader 5 that the eveningstar expert advisor trades the "evening star" pattern. the below image shows an example of operation of the underlying indicator, while the ea does not draw anything on the chart.
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 evening star
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
the eveningstar expert advisor trades the "evening star" pattern.
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: MQL5 Wizard: Trading Signals with Morning/Evening Stars and Stochastic Oscillator - another powerful expert for MetaTrader 5 traders.
Also recommended: Trade Signals Using Morning/Evening Stars Confirmed by CCI Indicator in MT5 - similar expert with strong performance on MetaTrader 5.
the eveningstar expert advisor trades the "evening star" pattern. the below image shows an example of operation of the underlying indicator, while the ea does not draw anything on the chart.lot is calculated based on the risk value as a percentage of free margin.
for more information about the "evening star" pattern please see the indicator code.
expert advisor parameters:
evening star
- the type of position to open (buy or sell)
take profit (in pips)
stop loss (in pips)
risk in percent for a deal
- risk per trade as percent of free margin
shift in bars (from 1 to 255)
gap. true -> gap is taken into account
candle 2 type. true -> type of candle 2 is taken into account
candle sizes. true -> candle sizes is taken into account
true -> close opposite positions
- handling of opposite positions
magic numberthe ea only operates when a new bar appears.
You may also like: Trade Signals: Morning/Evening Stars with MFI Confirmation using MQL5 Wizard - 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.