Exp Chandel Exit Sign Re Open
This professional-grade solution for MetaTrader 5 helps traders achieve greater efficiency in their daily workflow. 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 Chandel Exit Sign Re Open
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
The Exp_ChandelExitSign_ReOpen trading system based on the signals of the indicator with trend following scaling. The signal is formed when a bar is closing if a colored indicator arrow has appeared. Further, it scales the volume of the opened position if the profit points of the last deal in the position exceed the threshold specified in the EA input parameters.
Information on position scaling is stored in string comment to the trade in the format of: number of scales / price of last deal / volume of last deal.
In order to properly compile the Expert Advisor, you should save the ChandelExitSign.ex5 compiled file to the <terminal_data_folder>\MQL5\Indicators folder.
After compilation, the Exp_ChandelExitSign_ReOpen.ex5 expert file contains the ChandelExitSign.ex5 indicator as a , and therefore, it is not required to be present in the terminal folder for the compiled EA to work! For this purpose, the corresponding code has been added to the EA code in order to include this indicator in the expert's executable file.
The indicator executable file has been added as resources at the global scope
Changed the string paths to the indicators used as resources in the block of the OnInit() function
Thus, the compiled executable file of the expert can be used on other trade terminals on its own without the indicators.
Default Expert Advisor's input parameters have been used during the tests shown below. Stop Loss and Take Profit have not been used during the tests.
Fig1. Examples of deals on the chart
Testing results for 2015 at USDCAD H8:
Fig.2. Chart of testing results
