EA potential entries
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 EA potential entries
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
INTRODUCTION:
I want to share with you this story. When I started trading, I learnt the scalping strategy in a volatile market. I really loved scalping especially when I see the price is moving fast. However, scalping for a long period of time is exhausting to me especially in a volatile market; volatile market requires fast analysis, actions and reactions; that is why I always reach a point that I loss concentration, focus and I start making those really stupid mistakes.
That is why I created this EA, that is based on the , that helped me to automatically identify these potential entries (based on the formation of candlesticks) instead of doing all the work myself and it will trade these potential entries for me. I know there are plenty of Metatraders who also suffer from this and that is why I would like to share this EA with you, hopefully it will be beneficial. Do not forget to send you comments as well as rate these scripts. Happy trading!
You can check the below videos:
Do not forget to send you comments as well as rate these scripts. Happy trading!
LIVE TRADING SESSION: How to properly trade small accounts
You can check the following live trading session and see how I use my tools to trade small accounts
PARAMETERS:
This EA has 2 inputs
1st input will allow you to specify if you want to identify potential entries on bullish or bearish trends (i.e. it is up to you to choose bullish trend or bearish trend).
2nd input will allow you to specify the volume of all your trades.
* If you choose bullish trend, this EA will identify potential bullish entries based on the formation of these candlesticks:
Bullish Hammer (HAM),
Inverted Hammer (IVH),
Bullish Engulfing (ENG),
Bullish Harami (HAR),
Morning start (MOS) and
Bullish Building Momentum
* If you choose bearish trend, this EA will identify potential bearish entries based on the formation of these candlesticks :
Shooting Star (SHS),
Hanging Man (HGM),
Bearish Engulfing (ENG),
Bearish Harami (HAR),
Evening Start (EVS) and
Bearish Building Momentum
