Fractals at Close Prices Expert Advisor
Info
The Fractals at Close Prices Expert Advisor is a Expert Advisor for MetaTrader 5 that the expert advisor (ea) is designed to trade based on the fractals indicator. Before using this EA, ensure you have compiled the indicator and placed it in the [data folder]\mql5\indicators\ directory.
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 Fractals at Close Prices Expert Advisor
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 Expert Advisor (EA) is designed to trade based on the Fractals 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: Partial Close Multi TP Manager for MetaTrader 5 - another powerful expert for MetaTrader 5 traders.
The Expert Advisor (EA) is designed to trade based on the Fractals indicator. Before using this EA, ensure you have compiled the indicator and placed it in the [data folder]\mql5\indicators\ directory.Also recommended: Basket Pair Closer: Efficiently Close Trading Positions - similar expert with strong performance on MetaTrader 5.
This EA offers three trading modes:
Intraday Trading: Start Trade Hour is less than End Trade Hour.
Trading with Continuation: Start Trade Hour is greater than End Trade Hour, allowing trades to continue into the next day.
Round-the-Clock Trading: Start Trade Hour is equal to End Trade Hour, enabling continuous trading.
When a position is opened, the EA sets predefined stop loss and take profit levels. Additionally, it features a trailing stop function to manage open trades.
Input Parameters:
- Start Trade Hour: Trading start time (hours).
- End Trade Hour: Trading end time (hours).
- Lots: The volume of the 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: Opening a sell position.
You may also like: Basket Protective Close - 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.