HengSeng Trader
Info
The HengSeng Trader is a Expert Advisor for MetaTrader 5 that hengseng trader expert advisorthe expert advisor operates on two timeframes. The support and resistance indicator is constructed on the current timeframe.
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 HengSeng 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
HengSeng Trader Expert AdvisorThe Expert Advisor operates on two timeframes.
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: Partial Close Multi TP Manager for MetaTrader 5 - another powerful expert for MetaTrader 5 traders.
HengSeng Trader Expert AdvisorAlso recommended: Programmatically Attach Expert Advisors with Custom Inputs to MetaTrader 5 Charts - similar expert with strong performance on MetaTrader 5.
The Expert Advisor operates on two timeframes. The support and resistance indicator is constructed on the current timeframe. The Fibonacci lines object is based on the daily timeframe's high and low. The parameter "number of daily bars for finding support and resistance levels" is set to 1.Inputs
lots - Position volume.
trailing stop (in pips) - Trailing stop loss.
trailing step (in pips) - Trailing stop step.
number of daily bars for finding support and resistance levels - Amount of days for calculating Fibonacci levels.
ma: averaging period - Moving Average averaging period.
ma: horizontal shift - Horizontal Moving Average shift.
ma: smoothing type - Moving Average smoothing type.
ma: type of price - Price type used for calculating the Moving Average indicator.
magic number - Unique EA identifier.
Exemplary testing on EURUSD, M15:
You may also like: USDX Trader EA: Trade the US Dollar Index with Any Broker - 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.