How do I install this Expert on MetaTrader 5?

Download the file, open MetaTrader 5 -> File -> Open Data Folder, copy the file to the correct folder (Experts / Indicators / Scripts / Libraries), then restart the terminal.

How do I activate / load this Expert?

Drag the Expert Advisor from the Navigator panel onto a chart, enable AutoTrading, and allow live trading in the settings.

Is this compatible with MetaTrader 5?

Yes, this Expert is built specifically for MetaTrader 5.

Is this Expert safe to use with real money?

All tools are provided for educational and testing purposes. We strongly recommend testing on a demo account first. Trading involves significant risk of loss.

Can I use this Expert on multiple charts?

Yes, but each chart can only run one Expert Advisor at a time. You can run multiple EAs on different charts.

Can I customize the settings of this Expert?

Yes. Right-click on the chart and select properties to open and adjust parameters.

Free Firebird Expert for MetaTrader 5

MetaTrader 5 expert

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Firebird

Info

The Firebird is a Expert Advisor for MetaTrader 5 that the ea trades based on the ima (moving average, ma) indicator. It also considers a parameter that defines the distance between the MA and the price as a percentage.

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 Firebird

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 EA trades based on the IMA (Moving Average, MA) 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: rs i grid ea pro: advanced rsi-based grid trading system - another powerful expert for MetaTrader 5 traders.

The EA trades based on the IMA (Moving Average, MA) indicator. It also considers a parameter that defines the distance between the MA and the price as a percentage. Before placing a trade, the EA checks the time elapsed since the last position was opened. If less than two periods have passed, it won't open a new position.

Also recommended: Up3x1 Premium MT5 Indicator - similar expert with strong performance on MetaTrader 5.

Inputs:

- Lots: Size of the position to open.

- Stop Loss (in pips): Stop loss value, must not be 0.

- Take Profit (in pips): Take profit value, must not be 0.

- MA: Averaging Period.

- MA: Horizontal Shift.

- MA: Smoothing Type.

- MA: Type of Price.

- Distance between MA and Price (percentage): Indicator distance from the price.

- Trade on Friday: Enable/disable trading on Fridays.

- Step: Distance between positions (in pips).

- Increase in Step: Scale the step based on the number of positions.

- Magic Number: Unique identifier for the EA.

A test sample is provided for all symbols on H1 with default parameters.

You may also like: Money Fixed Risk Lot Calculation - excellent alternative for expert users on MetaTrader 5.

Source Code

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⚠ 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.