Exponential Smoothed Candles Indicator for MT5
Info
The Exponential Smoothed Candles Indicator for MT5 is a Expert Advisor for MetaTrader 5 that a trading system utilizing the exponential smoothed candles indicator. A trading signal is generated at bar close when the breakthrough level is higher than the indicator candlestick's high or lower than its low.
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 Smoothed Candles Indicator for MT5
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
A trading system utilizing the Exponential Smoothed Candles 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: automated trading with mq l5 wizard: crossover of two exponentially smoothed moving averages - another powerful expert for MetaTrader 5 traders.
A trading system utilizing the Exponential Smoothed Candles indicator. A trading signal is generated at bar close when the breakthrough level is higher than the indicator candlestick's high or lower than its low.Also recommended: Exponential Moving Average Crossover Expert Advisor (MT5) - similar expert with strong performance on MetaTrader 5.
To use this indicator, place the compiled candles_smoothed.ex5 file into the terminal_data_folder\mql5\indicators directory.
The default expert advisor input parameters were used during the tests displayed below. Stop loss and take profit levels were not utilized in these tests.
Figure 1. Instances of historical deals on the chart.
Testing results for 2026 on USDCHF H4:
Figure 2. Chart of testing results.
You may also like: ADX Smoothed Indicator Trading System - excellent alternative for expert users on MetaTrader 5.
Source Code
#property copyright "robotfx"
#property link "https://robotfx.org"
#property version "1.00"
#include <smoothalgorithms.mqh>
enum applied_price_ //type od constant
{
price_close_ = 1, //close
price_open_, //open
price_high_, //high
price_low_, //low.......
⚠ 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.