Exp Fractal MF I
This is a powerful addition to your MetaTrader 5 toolkit designed to optimize market analysis and performance. 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 Fractal MF I
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 simplest EA based on the . Sells at downward crossing of oscillator overbought level, buys at the upward crossing of oscillator oversold level. The signal is formed when a bar is closing if there is crossing of the level.
Place Fractal_MFI.ex5 compiled file to the <terminal_data_folder>\MQL5\Indicators.
After compilation, the Exp_Fractal_MFI.ex5 expert file contains the Fractal_MFI.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
//---- Include the indicators in the EA code as resources#resource \\Indicators\\Fractal_MFI.ex5
Changed the string path to the indicator used as resource in the block of the OnInit() function
//---- getting handle of the Fractal_MFI indicator InpInd_Handle=iCustom(Symbol(),InpInd_Timeframe,"::Indicators\\Fractal_MFI",e_period,normal_speed,IPC,VolumeType,0);
Thus, the compiled executable file of the expert can be used on other trade terminals on its own without the indicator.
Note that the TradeAlgorithms.mqh library file allows using Expert Advisors with brokers who offer
nonzero spread
and the option of setting Stop Loss and Take Profit
together with position opening
. You can download more variants of the library at the following link: .
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.
Fig. 1. Examples of deals on the chart
Testing results for 2015 on EURAUD H2:
Fig. 2. Chart of testing results
