Fractals at Close prices EA
This professional-grade solution for MetaTrader 5 helps traders achieve greater efficiency in their daily workflow. 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 Fractals at Close prices EA
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 trades based on the indicator . Compile the indicator and add it to [data folder]\MQL5\Indicators\.
Configuring time interval for trading:
Intraday trading (
Start trade hour
is less than
End trade hour
)
Trading with continuation the next day (
Start trade hour
is greater than
End trade hour
)
Round-the-clock trading (
Start trade hour
is equal to
End trade hour
)
When a position is opened, preset stop loss and take profit levels are set. Also, the EA has the trailing stop function.
Input Parameters
Start trade hour
- trading start time (hours);
End trade hour
- trading end time (hours);
Lots
- the volume of position to open;
Stop Loss (in pips)
- Stop Loss value;
Take Profit (in pips)
- Take Profit value;
Trailing Stop (in pips)
- trailing value;
Trailing Step (in pips)
- trailing step value;
magic number
- Expert Advisor identifier.
Example of opening a Sell position:
