Forex Fraus M1
This tool for MetaTrader 5 is specifically engineered to streamline your trading operations. 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 Forex Fraus M1
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
:
How it works
The EA only operates (opens new positions) when a new bar emerges.
The volume of the opened position is equal to
Lots
.
Stop Loss
,
Take Profit
and
Trailing Stop
can be disabled by setting the appropriate parameter to "0.0".
The EA checks the value of (Williams' Percent Range, %R) at the #0 bar. The EA sells in the overbought zone and buys in the oversold zone. If the time period control is enabled (
Use Timecontrol
== true), the time interval is configured from
Start hour
to
End hour.
When a signal emerges, opposite positions can be closed: this can be done by setting
Use close opposite positions
= true.
EURUSD, M1, "Every tick based on real ticks"
