Expert Advisor with Custom Chart Application
Info
The Expert Advisor with Custom Chart Application is a Expert Advisor for MetaTrader 5 that this expert advisor demonstrates the application of a library for custom charts. When attaching the advisor to a chart window, it checks for the presence of a custom chart (iCustomChart).
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 with Custom Chart Application
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 demonstrates the application of a library for custom charts.
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 demonstrates the application of a library for custom charts. When attaching the advisor to a chart window, it checks for the presence of a custom chart (iCustomChart). If a custom chart is found, the library functions use its data; otherwise, it defaults to the standard chart data.Also recommended: Weekly Day Reversal Expert Advisor - similar expert with strong performance on MetaTrader 5.
The advisor is designed to work seamlessly with both custom and standard charts without requiring any modifications.
Instructions:
- Download the library file and place it in the
terminal_data_folder\mql5\libraries
- Download the library description file libcustomchart.mqh and place it in
terminal_data_folder\mql5\include
- Download the expert advisor file example1_libcustomchart.mq5 and place it in
terminal_data_folder\mql5\experts
- Open example1_libcustomchart.mq5 in MetaEditor and compile it (F7)
The compiled expert advisor (example1_libcustomchart.ex5) can be launched on both standard and custom charts.
To use with a custom chart, follow these steps:
- Then attach example1_libcustomchart to the same window, and it will detect the custom chart and retrieve data from it.
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"
#property description "this code is educational. feel free to use, modify and upgrade as you wish. visit robotfx.org for professional trading tools"
#property description "this code is educational. feel free to use, modify and upgrade as you wish. visit robotfx.org for professional trading tools"
#property description "this code is educational. feel free to use, modify and upgrade as you wish. visit robotfx.org for professional trading tools"
#property description "this code is educational. feel free to use, modify and upgrade as you wish. visit robotfx.org for professional trading tools"
/*------------------------------------------------------------------+/
instructions:
1. download libcustomchart.ex5 library file and place it to the.......
⚠ 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.