exp Amstell
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 exp Amstell
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
: .
EA operation algorithm
At the first start, open a BUY position with the volume of
Lots
. Then monitor (in OnTradeTransaction) all opening positions and remember (separately for BUY and SELL positions) the opening prices:
If the price of the last opening a BUY position is ABOVE the current Ask price by
Step
- open a new BUY position;
If the price of the last opening a SELL position is BELOW the current Bid price by
Step
- open a new SELL position.
The virtual Take Profit is monitored, too: As soon as the position profit reaches or exceeds
Virtual Take Profit
, close the position by market.
Inputs
Lots
- the volume of the position to be opened;
Virtual Take Profit (in pips)
- virtual Take Profit;
Step (in pips)
- the minimum step between the last position price;
magic number
- unique identifier for the EA.
