Expert Advisor for MetaTrader 4/5: i-cai st dev
Info
The Expert Advisor for MetaTrader 4/5: i-cai st dev is a Expert Advisor for MetaTrader 5 that this expert advisor is designed for the metatrader 4/5 platform, utilizing the i-cai_stdev indicator for trading signals. The EA opens a trade when a color point appears on the indicator at the bar's close.
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 Expert Advisor for MetaTrader 4/5: i-cai st dev
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
This Expert Advisor is designed for the MetaTrader 4/5 platform, utilizing the i-cai_stdev indicator for trading signals.
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: VPS Toolkit: Secure Order Sending and Restart-Safe State for Expert Advisors - another powerful expert for MetaTrader 5 traders.
This Expert Advisor is designed for the MetaTrader 4/5 platform, utilizing the i-cai_stdev indicator for trading signals.Also recommended: Automated Live Testing for Expert Advisors on Demo Accounts - similar expert with strong performance on MetaTrader 5.
The EA opens a trade when a color point appears on the indicator at the bar's close. It exits the market if the indicator's direction changes opposite to the open position.
To run this EA, place the compiled indicator file i-cai_stdev.ex5 in the <terminal_data_folder>\mql5\indicators directory.
The tradealgorithms.mqh library file enables compatibility with brokers offering nonzero spreads and the ability to set stop loss and take profit during position opening. You can find more variants of this library at the provided link.
The default input parameters were used for testing, and stop loss and take profit were not employed.
Fig. 1 illustrates instances of deal history on the chart.
Testing Results for 2026 on EURUSD H4:
Fig. 2 displays the testing results chart.
You may also like: Programmatically Attach Expert Advisors with Custom Inputs to MetaTrader 5 Charts - excellent alternative for expert users on MetaTrader 5.
Source Code
#property copyright "robotfx"
#property link "https://robotfx.org"
#property version "1.00"
#property indicator_chart_window
#property indicator_buffers 6
#property indicator_plots 5
#property indicator_type1 draw_color_line
#property indicator_color1 clrdodgerblue,clrmagenta
#property indicator_style1 style_solid
#property indicator_width1 3.......
⚠ 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.