exp weight oscillator
Info
The exp weight oscillator is a Expert Advisor for MetaTrader 5 that the simplest ea based on the. sells at downward crossing of oscillator overbought level, buys at the upward crossing of oscillator oversold level.
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 weight oscillator
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
the simplest ea based on the.
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: MQL5 Wizard: Trading Signals with Morning/Evening Stars and Stochastic Oscillator - another powerful expert for MetaTrader 5 traders.
Also recommended: Blue Stochastic Oscillator Trading System MT5 - similar expert with strong performance on MetaTrader 5.
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.the weightoscillator_htf indicator in the ea is intended only for a more convenient visualization of trends in the strategy tester, in other operation modes it is inactive.
place weightoscillator.ex5 and weightoscillator_htf.ex5 compiled files to the <terminal_data_folder>\mql5\indicators.
after compilation, the exp_weightoscillator.ex5 expert file contains the weightoscillator.ex5 and weightoscillator_htf.ex5 indicators as , and therefore, they are 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 these indicators in the expert's executable file.
the indicator executable files have been added as resources at the global scope
//---- include the indicators in the ea code as resources#resource "\\indicators\\weightoscillator.ex5"#resource "\\indicators\\weightoscillator_htf.ex5"
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.
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 eurjpy h6:
fig. 2. chart of testing results
You may also like: RSI Oscillator Moving Average Trading System - 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.