lb s
Info
The lb s is a Expert Advisor for MetaTrader 5 that idea by:code mq5 by:the ea works both on netting and hedging accounts. it places pending orders only when a new bar appears.
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 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.
What this tool does
idea by:code mq5 by:the ea works both on netting and hedging accounts.
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 - another powerful expert for MetaTrader 5 traders.
idea by:
code mq5 by:
the ea works both on netting and hedging accounts. it places pending orders only when a new bar appears.
Also recommended: Quantora Trade Manager MT5: Advanced Position Management - similar expert with strong performance on MetaTrader 5.
what it makesfirst, 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.
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.