Exp Sinewave2 X2
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 Sinewave2 X2
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
A trend-following trading system Exp_Sinewave2_X2 is based on the signals of two indicators The first indicator determines the direction of the slow trend based on the position of the main and signal lines. The second indicator determines the moment for opening a trade, when the lines cross or touch each other. An entry signal is generated at a bar closure if the following two conditions are met:
Fast and slow trend signals coincide;
Fast trend has changed its direction. EA Inputs
String variables containing the text in the code of input parameters are only used for better visualization of the EA input parameters window.
Indicators in the EA are only intended for a more convenient visualization of trends in the strategy tester, and they are inactive in other operation modes.
For the generated EA to operate correctly, the compiled files of indicators
CyclePeriod.ex5
,
Sinewave2.ex5
, and
Sinewave2_Cloud_HTF.ex5
must be in the
<terminal_data_directory>\MQL5\Indicators
folder.
The EA default input parameters were used in tests below. Stop Loss and Take Profit were not used in testing.
Testing results for GBPUSD over the year 2016, slow trend on H8, and entry by fast trend on M30:
Fig. 2. Testing results chart
