Lazy Bot MT5 (Daily Breakout EA)
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 Lazy Bot MT5 (Daily Breakout EA)
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
Input parameters
2. local variables initialization
3. Main Code
Explaining the Strategy, Everyday Bot will delete All the old Orders and find Highest and Lowest value of the previous daily Bar and Send to two Pending orders "
BUY_STOP
", "
SELL_STOP
". (No TakeProfit).
a/ Expert initialization function
b/ Expert tick function
3.1 Calculate signal and send orders
3.2 New day, delete all old orders
3.3 EA has function "trailing StopLoss", SL will change every time price change and make profit increase
3.4 Check Volume value
3.5 Check FreeLevel
3.6 Check Money for trade
3.7 Check Stoploss
Video MQL4:
Video MQL5:
