GO
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 GO
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
How it works
GO is calculated using the following formula:
GO=((C-O)+(H-O)+(L-O)+(C-L)+(C-H))*V;
Where C, O, H, L - Moving Average value on Close, Open, High, Low prices. V - signal bar volume.
If the value of GO is greater than 0, a buy order is opened, if less - the buy order is closed and a sell order is opened.
The image shows the performance of the Expert Advisor in the strategy tester's visual mode.
Parameters
Lots - lot; when 0, the MaxrR parameter is used.
MaximumRisk - Risk (default value Lots=0).
Shift - Bar on which indicators are checked: 0 - forming bar, 1 - first formed bar.
MAPeriod - MA period.
MAShift - MA shift.
MAMethod - MA method.
VolVolume - Volume.
OpenLevel - If the value of GO exceeds the level, a buy order is opened; if it is less than -OpenLevel, a sell order is opened.
CloseLevelDif - Difference between opening and closing level value should be set in positive value. Closing level must be equal or less than the opening level).
ShowGO - Display GO value on chart comments.
Note If OpenLevel has 0 value, bar volume value do not influence so OpenLevel and CloseLevelDif parameters are included. These parameters are absent in the source. External parameters have been included for Moving Average.
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