Exponential Moving Average MACD-2 Expert Advisor
Info
The Exponential Moving Average MACD-2 Expert Advisor is a Expert Advisor for MetaTrader 5 that the exponential moving average macd-2 expert advisor utilizes signal entries derived from the macd-2 indicator. A signal is generated when a bar is closing under the following conditions:- The MACD histogram breaks through the zero 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 Exponential Moving Average MACD-2 Expert Advisor
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 Exponential Moving Average MACD-2 Expert Advisor utilizes signal entries derived from the MACD-2 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: Moving Average Crossover Expert Advisor - another powerful expert for MetaTrader 5 traders.
The Exponential Moving Average MACD-2 Expert Advisor utilizes signal entries derived from the MACD-2 indicator.Also recommended: Relative Moving Average EA - similar expert with strong performance on MetaTrader 5.
A signal is generated when a bar is closing under the following conditions:
- The MACD histogram breaks through the zero level.
- There is a change in the histogram's direction.
- There is a change in the cloud color (configurable via the trendmode input parameter).
This Expert Advisor requires the compiled indicator file 'macd-2.ex5' to function. Please place this file in the <terminal_data_folder>\mql5\indicators directory.
The 'tradealgorithms.mqh' library file enables the use of this Expert Advisor with brokers that offer non-zero spreads and allow setting stop loss and take profit simultaneously with position opening.
Default Expert Advisor input parameters were used for the testing results shown below. Stop loss and take profit were not utilized during these tests.
Testing results for 2014 on USDJPY H6:
Figure 1. Trade examples on the chart
Figure 2. Chart of testing results
You may also like: index moving average expert advisor - excellent alternative for expert users on MetaTrader 5.
Source Code
#property copyright "robotfx"
#property link "https://robotfx.org"
#property version "1.00"
enum trend_mode //
{
histogram = 1, //
cloud, //
zero // macd
};
#include <tradealgorithms.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.