js sis t e m 2
Info
The js sis t e m 2 is a Expert Advisor for MetaTrader 5 that the expert advisor uses three imas (moving average, ma), one iosma (moving average of oscillator and one irvi (relative vigor index, rvi). the ea can use either a fixed lot or a lot calculated as a risk percent of free margin.
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 js sis t e m 2
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 three imas (moving average, ma), one iosma (moving average of oscillator and one irvi (relative vigor index, rvi).
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.
the expert advisor uses three imas (moving average, ma), one iosma (moving average of oscillator and one irvi (relative vigor index, rvi). the ea can use either a fixed lot or a lot calculated as a risk percent of free margin. it can apply trailing stop based on the high/low of earlier bars. it only works on a new bar, i.e. at the moment of formation of a new bar.
Also recommended: Quantora Trade Manager MT5: Advanced Position Management - similar expert with strong performance on MetaTrader 5.
input parameterstrade setting
- main trading settings:
the minimum balance. if less - then close the expert advisor
- minimum allowable balance;
lots (if "lots" <=0.0 -> then the "risk" parameter is used)
- fixed lot value;
stop loss (in pips)
- stop loss value;
take profit (in pips)
- take profit value;
risk in percent for a deal from a free margin (if "lots" <=0.0)
- risk per trade as percent of free margin;
volatility (in bars)
- the number of bars to search for high and low;
magic number
- expert advisor identifier.
moving average settings
:
minimum difference between moving average indicators
- the minimum distance between indicators
moving average #1: averaging period
moving average #2: averaging period
moving average #3: averaging period
osma settings
:
osma: period for fast moving average
osma: period for slow moving average
osma: averaging period for their difference
rvi settings
:
rvi: averaging period
rvi max value
rvi min value
trailing on shadows of bars
- the trailing stop function based on bar shadows:
trailing shadows
- enable/disable trailing based on shadows;
timeframe
- the timeframe of bars for the trailing function;
indent from the shadow of the bar on which the stop loss is placed
- additional indent.
an example of testing on eurusd, h1, with the trailing stop based on m5 shadows:
You may also like: Quantora Break Even Manager MT5 - Automated Stop Loss Protection - 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.