Forex Profit
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 Forex Profit
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
The Expert Advisor uses Parabolic SAR and three EMAs (with the periods of 10, 25 and 50).
The algorithm of trading strategy:
1. Open a H1 chart of EURUSD, lots 0,1.
2. Draw Parabolic SAR and three Exponential Moving Averages with periods 10, 25, 50.
A Buy signal: ЕMA with the period of 10 crosses ЕМА 25 and 50 from bottom upwards, while Parabolic SAR is below the price.
A Sell signal: ЕMA with the period of 10 crosses ЕМА 25 and 50 from top downwards, while Parabolic SAR is above the price.
Exit:
1. By Stop Loss2. By Take Profit3. When the ЕМА 10 line turns the opposite direction (if we have a Buy position, close where the ЕМА10 top was formed, for Sell - where bottom is formed), with a minimum profit. The values of Stop Loss and Take Profit for buy and sell trades will be different.
Testing results on EURUSD, H1 from 2016.06.28 to 2016.12.16, initial deposit - $3000:
