Exp Amstell
Info
The Exp Amstell is a Expert Advisor for MetaTrader 5 that this expert advisor (ea) operates using a unique algorithm for opening and managing positions. At the start, the EA opens a buy position with a specified volume in lots.
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 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.
What this tool does
This Expert Advisor (EA) operates using a unique algorithm for opening and managing positions.
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: News Lines Utility: Economic Calendar On Your Chart - another powerful expert for MetaTrader 5 traders.
This Expert Advisor (EA) operates using a unique algorithm for opening and managing positions.Also recommended: msnr plus aeu ea - similar expert with strong performance on MetaTrader 5.
At the start, the EA opens a buy position with a specified volume in lots. It then monitors all opening positions and records their opening prices separately for buy and sell positions.
The EA's core logic is as follows:
- If the price of the last opened buy position is above the current ask price by a specified step, open a new buy position.
- If the price of the last opened sell position is below the current bid price by the specified step, open a new sell position.
The EA also monitors a virtual take profit. When a position's profit reaches or exceeds the set virtual take profit, the EA closes the position immediately.
Inputs:
- Lots: The volume of the initial position to be opened.
- Virtual Take Profit (in pips): The profit level at which positions are closed.
- Step (in pips): The minimum price difference between the last position price and the current price to open a new position.
- Magic Number: A unique identifier for the EA to distinguish its positions from others.
You may also like: tunnel gen4 - 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.