LB S
This professional-grade solution for MetaTrader 5 helps traders achieve greater efficiency in their daily workflow. 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 LB S
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:
Code mq5 by:
The EA works both on netting and hedging accounts. It places pending orders only when a new bar appears.
What It Makes
First, three parameters (
Hour 1
,
Hour 2
, and
Hour 3
) are compared to the current hour. If the current hour matches one of these parameters, placing pending orders is allowed.
Maximum and minimum prices between bars #0 and #1 are defined. After that, the value of indicator iATR is added to the maximum price of bar #0. This is how the Buy stop price is obtained. Price for Sell stop is obtained by subtracting the value of indicator iATR on bar #0 from the minimum price.
The volume can be set in two ways: by either using a fixed lot (set
Money management
to
Constant lot
) or in in risk % per trade (set
Money management
to
Risk in percent for a deal
).
As soon as one of the pending orders is activated (defined in OnTradeTransaction: TRADE_TRANSACTION_DEAL_ADD transaction type – "adding a deal to history" is detected), all remaining pending orders are removed.
Trailing is applied to positions.
