hans123 trader
Info
The hans123 trader is a Expert Advisor for MetaTrader 5 that the expert advisor places pending buy stop and sell stop orders. to place an order, the ea searches for the highest and lowest price within the given range of bars (set to 80 in this code).
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 hans123 trader
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 places pending buy stop and sell stop orders.
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: Professional Automatic Trailing Stop Utility for MetaTrader 5 - another powerful expert for MetaTrader 5 traders.
Also recommended: Professional Margin Requirement Calculator for MetaTrader 5 - similar expert with strong performance on MetaTrader 5.
the expert advisor places pending buy stop and sell stop orders. to place an order, the ea searches for the highest and lowest price within the given range of bars (set to 80 in this code). buy stop orders are placed at the highest price, sell stop are placed at the lowest one.the lifetime of pending orders lasts until the end of the current day. once any of the pending orders triggers, all other orders are deleted.
an example of operation on eurusd,m5:
input parameters
lots
- the volume for pending orders
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
start hour
- operation start hour
end hour
- operation end hour
You may also like: KCI N-Matrix Engine: Advanced Trading Framework for MetaTrader 5 - 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.