Evening Star Trading Expert Advisor
Info
The Evening Star Trading Expert Advisor is a Expert Advisor for MetaTrader 5 that this expert advisor (ea) trades using the "evening star" candlestick pattern. While the underlying indicator may display information visually, this EA operates without drawing any elements 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 Trading Expert Advisor
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) trades using the "Evening Star" candlestick 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: VPS Toolkit: Secure Order Sending and Restart-Safe State for Expert Advisors - another powerful expert for MetaTrader 5 traders.
This Expert Advisor (EA) trades using the "Evening Star" candlestick pattern. While the underlying indicator may display information visually, this EA operates without drawing any elements on the chart.Also recommended: GER40 Evening Coil EA: 376% Profit with 10% Max Drawdown - similar expert with strong performance on MetaTrader 5.
The lot size for trades is automatically calculated based on a specified risk percentage of your free margin.
For detailed information regarding the "Evening Star" pattern, please refer to the indicator's source code.
Expert Advisor Parameters:
Evening Star
- Specifies the type of position to open: Buy or Sell.
Take Profit (in pips)
- Sets the target profit level in pips.
Stop Loss (in pips)
- Sets the maximum acceptable loss in pips.
Risk in Percent for a Deal
- Defines the risk per trade as a percentage of the free margin.
Shift in Bars (from 1 to 255)
- Adjusts the lookback period for pattern detection.
Gap
- Enable or disable taking gaps into account during trading.
Candle 2 Type
- Enable or disable considering the type of the second candle in the pattern.
Candle Sizes
- Enable or disable considering the sizes of the candles in the pattern.
Close Opposite Positions
- Enable or disable the automatic closure of opposing positions.
Magic Number
- A unique identifier for the EA's trades.
The EA operates exclusively when a new bar forms on the chart.
You may also like: MQL5 Wizard: Trading Signals with Morning/Evening Stars and Stochastic Oscillator - 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.