Firebird
This is a powerful addition to your MetaTrader 5 toolkit designed to optimize market analysis and performance. This Expert Advisor serves as automated trading software. It is utilized to monitor financial markets and execute trades based on predefined algorithmic rules, enabling precise position management without the need for constant manual oversight.
How to Setup 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.
Description & Settings
Idea by
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MQL5 code by
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The EA trades on the iMA (Moving Average, MA) indicator. At the same time, there is a parameter (defined in percents)
Distance between "MA" and the price
- the indicator indent from price. Before sending a trade order, it checks how much time has elapsed since opening the last position: If fewer than two periods (timeframes) have elapsed, then the position will not be opened.
Inputs
Lots
- the size of the position to be opened;
Stop Loss (in pips) (do not use "0")
- Stop Loss; setting the value of "0" is prohibited;
Take Profit (in pips) (do not use "0")
- Take Profit; setting the value of "0" is prohibited;
MA: averaging period
- indicator averaging period;
MA: horizontal shift
- indicator horizontal shift;
MA: smoothing type
- the type of indicator averaging;
MA: type of price
- the type of indicator price;
Distance between "MA" and the price (as a percentage)
- indicator distance from price, in percents;
Trade on Friday
- enable trading on Friday;
Step: distance between positions (in pips)
- step between positions;
Increase in a step depending on quantity of positions
- scale up the step with the increse in the number of positions;
magic number
- unique identifier for the EA.
A test sample for all symbols on H1 with the default parameters:
![Firebird hma [I]](/images/7732.webp)
![Firebird hma [I]](/images/7557.webp)
