How do I install this Expert on MetaTrader 5?

Download the file, open MetaTrader 5 -> File -> Open Data Folder, copy the file to the correct folder (Experts / Indicators / Scripts / Libraries), then restart the terminal.

How do I activate / load this Expert?

Drag the Expert Advisor from the Navigator panel onto a chart, enable AutoTrading, and allow live trading in the settings.

Is this compatible with MetaTrader 5?

Yes, this Expert is built specifically for MetaTrader 5.

Is this Expert safe to use with real money?

All tools are provided for educational and testing purposes. We strongly recommend testing on a demo account first. Trading involves significant risk of loss.

Can I use this Expert on multiple charts?

Yes, but each chart can only run one Expert Advisor at a time. You can run multiple EAs on different charts.

Can I customize the settings of this Expert?

Yes. Right-click on the chart and select properties to open and adjust parameters.

Free js sis t e m 2 Expert for MetaTrader 5

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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 utilizes three moving averages (ma), one oscillator of moving averages (osma), and one relative vigor index (rvi). It offers flexibility in position sizing, allowing for either a fixed lot or a lot calculated as a risk percentage of the 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 utilizes three moving averages (MA), one oscillator of moving averages (OSMA), and one 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: Supertrend Scalper with Breakeven Win Rate Panel - another powerful expert for MetaTrader 5 traders.

The expert advisor utilizes three moving averages (MA), one oscillator of moving averages (OSMA), and one relative vigor index (RVI). It offers flexibility in position sizing, allowing for either a fixed lot or a lot calculated as a risk percentage of the free margin.

Also recommended: Tick Scalper Helper: Tick Chart and One-Click Trading Panel for MT5 - similar expert with strong performance on MetaTrader 5.

This EA operates on a new bar formation, ensuring precise entry and exit points.

Trade Settings

- Minimum Balance: The minimum balance required to keep the EA running.
- Lots: Fixed lot size or use risk percentage if set to zero.
- Stop Loss (in pips): The stop loss value in pips.
- Take Profit (in pips): The take profit value in pips.
- Risk in Percent: Risk allocation for each trade from the free margin.
- Volatility (in bars): Number of bars considered for high and low.
- Magic Number: Identifier for the EA.

Moving Average Settings

- Minimum Difference: The minimum distance between moving average indicators.
- Moving Average #1: Averaging period for the first MA.
- Moving Average #2: Averaging period for the second MA.
- Moving Average #3: Averaging period for the third MA.

OSMA Settings

- OSMA Fast MA: Period for the fast moving average.
- OSMA Slow MA: Period for the slow moving average.
- OSMA Difference: Averaging period for the difference between fast and slow MAs.

RVI Settings

- RVI Averaging Period: The period for the RVI calculation.
- RVI Max Value: Maximum RVI value.
- RVI Min Value: Minimum RVI value.

Trailing Stop Settings

- Trailing Shadows: Enable/disable trailing stop based on bar shadows.
- Timeframe: Timeframe for the trailing function.
- Indent from Shadow: Additional indent from the shadow of the bar for stop loss placement.

An example of testing on EURUSD, H1, with trailing stop based on M5 shadows is provided.

You may also like: Accurate Broker GMT Offset and Daylight Saving Time Rules from Price History - excellent alternative for expert users on MetaTrader 5.

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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.