GO
Info
The GO is a Expert Advisor for MetaTrader 5 that how it worksgo 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.
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 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.
What this tool does
How it worksGO 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.
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: Trade Adjustment Panel for MT5 - another powerful expert for MetaTrader 5 traders.
How it worksGO is calculated using the following formula:
GO = ((C - O) + (H - O) + (L - O) + (C - L) + (C - H)) * V;
Also recommended: Quantora Trade Manager MT5: Advanced Position Management - similar expert with strong performance on MetaTrader 5.
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 MaximumRisk 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 to or less than the opening level).
- ShowGO - Display GO value on chart comments.
Note: If OpenLevel has a 0 value, bar volume value does not influence so OpenLevel and CloseLevelDif parameters are included. These parameters are absent in the source. External parameters have been included for moving average.
You may also like: Quantora Break Even Manager MT5 - Automated Stop Loss Protection - excellent alternative for expert users on MetaTrader 5.
Source Code
#property copyright "robotfx"
#property link "https://robotfx.org"
#property description "this code is educational. feel free to use, modify and upgrade as you wish. visit robotfx.org for professional trading tools"
#property version "1.00"
#property description "this code is educational. feel free to use, modify and upgrade as you wish. visit robotfx.org for professional trading tools"
/*
the author: experttrader, http://www.mql4.com/ru/users/experttrader
the original: http://codebase.mql4.com/ru/558
how it works:
go parameter calculation using the following formula:.......
⚠ 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.