Expert Advisor Strategy: Laguerre, CCI, and MA
Info
The Expert Advisor Strategy: Laguerre, CCI, and MA is a Expert Advisor for MetaTrader 5 that the expert advisor's functionality relies on the utilization of a specific indicator. How it WorksThe expert advisor generates signals based on the Laguerre indicator, CCI, and MA.
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 Strategy: Laguerre, CCI, and MA
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 expert advisor's functionality relies on the utilization of a specific indicator.
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.
The expert advisor's functionality relies on the utilization of a specific indicator.How it Works
Also recommended: Weekly Day Reversal Expert Advisor - similar expert with strong performance on MetaTrader 5.
The expert advisor generates signals based on the Laguerre indicator, CCI, and MA. When the Laguerre indicator is equal to 0, moving upward, and below a certain level, it triggers a buy signal. Conversely, when the Laguerre indicator is equal to 1, the MA is moving downward, and the CCI is above a specified level, a sell signal is generated.
Position Sizing
The lot size for new positions can be either fixed or adjusted proportionally to the free margin. In the event of consecutive losing trades, the position volume can be decreased. This reduction is controlled by the 'decreasefactor' parameter, with smaller values resulting in more significant reductions.
Position Management
Positions are closed when the Laguerre indicator moves in the opposite direction. Buy positions are closed when the Laguerre value exceeds 0.9, while sell positions are closed when the value drops below 0.1.
Stop Loss and Take Profit
The expert advisor offers flexibility in managing risk. Users can set a stop loss and take profit for each opening position. Alternatively, positions can be closed when a specified loss or profit is reached, as defined by the 'stoploss' and 'takeprofit' parameters.
Parameters
- lots - Lot size; if set to 0, the 'maximumrisk' value is used.
- maximumrisk - Risk percentage; utilized when 'lots' is set to 0.
- decreasefactor - Lot reduction factor after losing trades; set to 0 to disable reduction.
- stoploss - Stop loss in points; set to 0 for no stop loss.
- takeprofit - Take profit in points; set to 0 for no take profit.
- virtualsltp - Enables virtual stop loss and take profit; positions are closed based on 'stoploss' and 'takeprofit' values.
- laggamma - Laguerre indicator parameter.
- cciperiod - CCI period.
- cciprice - CCI price.
- ccilevel - CCI level.
- maperiod - MA period.
- mashift - MA shift.
- mamethod - MA method.
- maprice - MA price.
- shift - Bar for indicator value checks; 0 for new forming bar, 1 for first completed bar.
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 description "this code is educational. feel free to use, modify and upgrade as you wish. visit robotfx.org for professional trading tools"
#property version "1.00"
/*
the expert advisor is based on the following indicators: laguerre (http://www.mql5.com/ru/code/432), cci and ma.
*/
#define ind1 "laguerre"
#include <trade/trade.mqh>
#include <trade/symbolinfo.mqh>.......
⚠ 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.