Executor Candles
This tool for MetaTrader 5 is specifically engineered to streamline your trading operations. 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 Executor Candles
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
Idea by
: .
MQL5 code by
: .
The EA trades on several candlestick patterns. For positions BUY and SELL, there must be the separate settings of Take Profit, Stop Loss, and Trailing. There must not be no more than one position in the market, so the EA can run on both hedging and netting accounts.
Along with determining the patterns, there is one setting (
Off "Main timeframe"
) that can enable/disable determining a trend by bar #1 on
Main timeframe
. An example of how the
Off "Main timeframe"
setting influences for EURUSD,H1:
Fig. 1. Parameter "Off "Main timeframe"" == true
Fig. 2. Parameter "Off "Main timeframe"" == false
Input parameters
Stop Loss Buy
- Stop Loss for BUY positions;
Take Profit Buy
- Take Profit for BUY positions;
Trailing Stop Buy
- Trailing for BUY positions;
Stop Loss Sell
- Stop Loss for SELL positions;
Take Profit Sell
- Take Profit for SELL positions;
Trailing Stop Sell
- Trailing for SELL positions;
Trailing Step
- trailing step (common for BUY and SELL);
Lots
- position volume, permanent (if the value is above zero, then the "Risk" parameter MUST be equal to zero);
Risk
- the position volume is calculated automatically, in the risk percents (if the value is above zero, then the "Lots" parameter MUST be equal to zero);
Off "Main timeframe"
- disabling parameter "Main timeframe";
Main timeframe
- the main timeframe to determine the trend;
magic number
- unique identifier for the EA.
