Galactic Explosion Expert Advisor
Info
The Galactic Explosion Expert Advisor is a Expert Advisor for MetaTrader 5 that this expert advisor (ea) is designed to automate trading strategies based on specific rules and conditions. The EA operates on a bar-by-bar basis, performing calculations and making trading decisions at the start of each new bar.
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 Galactic Explosion 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
This Expert Advisor (EA) is designed to automate trading strategies based on specific rules and conditions.
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: Statistical Analysis of Price Explosions: The Hawaiian Tsunami Surfer Strategy - another powerful expert for MetaTrader 5 traders.
This Expert Advisor (EA) is designed to automate trading strategies based on specific rules and conditions.Also recommended: explosion5 - similar expert with strong performance on MetaTrader 5.
The EA operates on a bar-by-bar basis, performing calculations and making trading decisions at the start of each new bar. It does not execute actions within the bar.
Trading is restricted to a specified
operation time
, which can be set to cover a specific time period, such as 8 am to 5 pm. New positions can only be opened during these hours, but position closing is allowed outside of these hours.
Position
volume
is manually set in the input parameters and remains fixed for all trades.
The EA opens the first trade based on the 200-period Exponential Moving Average (EMA) position relative to the new bar. It buys if the 200 EMA is below the new bar and sells if it is above.
Positions are closed when the net profit (including commission, swap, and profit) reaches or exceeds the
minimum profit
specified in the account currency. If the trade is not in profit at the opening of the next bar, the EA waits until the total profit condition is met.
If open positions are in a net loss, the EA opens a new position at the start of each new bar until the
minimum profit
is achieved. This process continues until the desired profit level is reached.
When more than 8 positions are open, additional rules come into play:
- New positions are opened following the same rules as the first 8 positions, but with an additional condition: the distance between the new bar price and the last open position must be at least 10 points.
- If the current bar price is 500 to 999 points away from the first open position's price, a new position is opened, but a minimum of 3 candlesticks are skipped.
- If the current bar price is 1000 to 2000 points away from the first open position's price, a new position is opened, but a minimum of 6 candlesticks are skipped.
You may also like: simple pivot - 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.