i MA i Std Dev
This is a powerful addition to your MetaTrader 5 toolkit designed to optimize market analysis and performance. 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 i MA i Std Dev
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
Idea by:
mq5 code by:
The EA trades on two indicators iMA (Moving Average) and one indicator iStdDev (Standard Deviation, StdDev). It does not involve Stop Loss, Take Profit, or Trailing Stop. Positions are closed as soon as the opposite signal is received.
A sample Sell deal. Conditions:
1) Fast iMA (
MA Fast
) is below the slow iMA (
MA Normal
);
2) The preceding candle is bearish and closed below the fast iMA (
MA Fast
); and
3) Indicator iStdDev moves upwards and exceeds the pre-defined level.
Positions may be opened in one direction without limitations. However, in case of receiving an opposite signal, those positions will be closed.
