Freeman
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 Freeman
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 idea is trivial: if RSI is in the oversold area and starts reversing upwards, while Moving Average goes up as well, this is a buy signal. An opposite case is applied to selling.
The main EA feature is the ability to use two sets of parameters. Some settings have shorter periods that give more entries. Others, on the contrary, have longer periods, giving fewer but more accurate entries.
ATR is applied for calculating stop loss and take profit levels. It is possible to sort trades by trend. Moving Average from H1 is used as a filter.
Inputs
Lots
- volume of a position to open;
SL Factor
- stop loss, calculated as SL Factor * ATR;
TP Factor
- take profit, calculated as TP Factor * ATR;
Trailing Stop
- trailing;
Trailing Step
- trailing step;
Positions Maximum
- maximum number of positions;
Distance between positions
;
Bars Control
- trading type: at each tick/at a new bar only;
Coefficient for position locking
- position ratio if the previous one closed in a loss;
Use RSI Teacher #1
- use RSI #1 set of parameters;
Use RSI Teacher #2
- use RSI #2 set of parameters;
MA First, ATR: averaging period
;
MA Second: averaging period
;
MA Filter: averaging period
;
MA First, MA Second, MA Filter: smoothing type
;
MA First, MA Second, MA Filter: type of price
;
RSI First: averaging period
;
RSI Second: averaging period
;
RSI Sell Level #1
- Sell level for set of parameters #1;
RSI Buy Level #1
- Buy level for set of parameters #1;
RSI Sell Level 2
- Sell level for set of parameters #2;
RSI Buy Level 2
- Buy level for set of parameters #2;
Signal Bar number
;
Trend filter
;
Trade on Friday
;
Begin trade hour
("0" - off);
End trade hour
("0" - off);
magic number
- unique EA identifier.
Test in "Every tick" mode by all symbols on M15 timeframe:
