Ketty
This software component for MetaTrader 5 is built to enhance the capabilities of your trading environment. 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 Ketty
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
The EA works with pending Buy Stop and Sell Stop orders.
The strategy applies the general view of British traders as well-known “stop level hunters”. This means that the initial movement at the opening of the London session may not always be true.
The original rules for buying are as follows:
After the beginning of the London session, wait for the price to reach a new range low, which is less than the Open price at least by the
Channel breakthrough
value (the range is a price movement between the Frankfurt and London openings).
Then the pair reverses and hits the maximum.
Set a buy pending order with the volume of
Lots
to
Order price shift
above the range high.
Set stop loss (
Stop Loss
) and take profit (T
ake Profit
) immediately.
Calculate the channel range strictly from
Channel start hour
::
Channel start minute
up to
Channel end hour
::
Channel end time
. Search for high and low within this range. Use the detected high and low as well as the dates
Channel start hour
::
Channel start minute
and
Channel end hour
::
Channel end time
to build a rectangle and visualize the channel:
A pending order is placed within a time range from
Placing order start time
(hours) to
Placing order end time
(hours). If we go beyond the specified range, while there is a a non-activated pending order, remove it.
GBPUSD, M15:
