Lego 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 Lego 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
The Expert Advisor combines signals from several indicators:
iCCI (Commodity Channel Index, CCI)
iMA (Moving Average, MA)
iStochastic (Stochastic Oscillator)
iAC (Acceleration/Deceleration, Accelerator/Decelerator Oscillator, AC)
iDeMarker (DeMarker, DeM)
iAO (Awesome Oscillator, AO)
or uses only one of the indicators.
You can combine conditions: use entry signals from one indicator, while using exit signals from another. For example,
CCI: use CCI to open
is responsible for using CCI entry signals, while
CCI: use CCI to close
applies CCI indicator for closing. The principle is the same for other indicators.
Lot size management
If the
Multiply a lot if the last deal was unprofitable
ratio parameter is not equal to "1.0", while the previous position was closed with a loss, the lot of the loss-making position is increased by this ratio.
