expert advisor for the puria method forex strategy
Info
The expert advisor for the puria method forex strategy is a Expert Advisor for MetaTrader 5 that this expert advisor is based on the puria method, a forex strategy that utilizes specific moving averages and the macd indicator for trading signals. indicator setup:moving averages:- moving average 1: set the period to 85, use the linear weighted method, apply to low prices, and color it red.
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 the puria method forex strategy
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 based on the puria method, a forex strategy that utilizes specific moving averages and the macd 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: Market Miner Expert Advisor - another powerful expert for MetaTrader 5 traders.
this expert advisor is based on the puria method, a forex strategy that utilizes specific moving averages and the macd indicator for trading signals.Also recommended: Weekly Day Reversal Expert Advisor - similar expert with strong performance on MetaTrader 5.
indicator setup:
moving averages:
- moving average 1: set the period to 85, use the linear weighted method, apply to low prices, and color it red.
- moving average 2: set the period to 75, use the linear weighted method, apply to low prices, and color it red.
- moving average 3: set the period to 5, use the exponential method, apply to close prices, and color it blue.
macd indicator: set fast ema to 15, slow ema to 26, and macd sma to 1.
these indicators are readily available in the metatrader 5 client terminal.
recommended currency pairs and timeframes:
the strategy suggests the following currency pairs and timeframes, along with the corresponding take profit values:
- audjpy - m30 - take profit: 15 points
- nzdusd - h1 - take profit: 25 points
- usdcad - h1 - take profit: 20 points
- eurgbp - h1 - take profit: 10 points
- usdjpy - m30 - take profit: 15 points
- gbpusd - m30 - take profit: 20 points
- usdchf - m30 - take profit: 10 points
- eurchf - h1 - take profit: 15 points
- audusd - m30 - take profit: 10 points
- eurjpy - m30 - take profit: 15 points
- chfjpy - h1 - take profit: 15 points
- cadjpy - m30 - take profit: 20 points
- eurusd - m30 - take profit: 15 points
trading rules:
- sell signal: execute a sell trade when the blue ma crosses below the two red mas, and the macd indicator confirms the signal by closing one bar below the zero level.
- buy signal: execute a buy trade when the blue ma crosses above the two red mas, and the macd indicator confirms the signal by closing one bar above the zero level.
- stop-loss: use a maximum stop-loss value of 14 pips.
- take profit: set the take profit value based on the recommended values for each currency pair.
You may also like: Simple EMA Cross Expert Advisor with Stop Loss, Take Profit, and Magic Number - excellent alternative for expert users on MetaTrader 5.
Source Code
#property copyright "RobotFX"
#property link "https://robotfx.org"
#property version "1.00"
input int StopLoss=14; // Stop Loss
input int TakeProfit=15; // Take Profit
input int MA1_Period=75; // Moving Average 1 period
input int MA2_Period=85; // Moving Average 2 period
input int MA3_Period=5; // Moving Average 3 period
input int EA_Magic=12345; // Magic Number of an EA
input double Lot=0.1; // Number of lots to trade.......
⚠ 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.