hoop master
Info
The hoop master is a Expert Advisor for MetaTrader 5 that the expert advisor uses buy stop and sell stop pending orders. the ea performs operations at the emergence of a new bar: if there are no positions, as well as no pending stop orders, the ea places buy stop and sell stop at the "indent" distance.
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 hoop master
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 uses buy stop and sell stop pending 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: master-winnerfx-asim - another powerful expert for MetaTrader 5 traders.
the expert advisor uses buy stop and sell stop pending orders. the ea performs operations at the emergence of a new bar: if there are no positions, as well as no pending stop orders, the ea places buy stop and sell stop at the "
Also recommended: trade panel from master windows - similar expert with strong performance on MetaTrader 5.
indent" distance. if none of the orders triggers at the next bar, the ea deletes these pending orders and starts anew.
once any of the pending orders triggers, the remaining order will be deleted. trailing stop will be applied to the open position. at the same time, the ea will place two additional pending stop orders with a doubled lot.
You may also like: the master mind 2 - 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.