Long Short Only EA Based on CExpert
Info
The Long Short Only EA Based on CExpert is a Expert Advisor for MetaTrader 5 that current expert advisor allows for the selection of opening either long or short positions, or both, based on an extension of the class. Two files are provided:longshortexpertmodified.
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 Long Short Only EA Based on CExpert
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
Current Expert Advisor allows for the selection of opening either long or short positions, or both, based on an extension of the class.
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: GBPJPY Monday Strategy: Simple Weekly Long Trade - another powerful expert for MetaTrader 5 traders.
Current Expert Advisor allows for the selection of opening either long or short positions, or both, based on an extension of the class.Also recommended: long-only trend breakout ea with advanced risk management - similar expert with strong performance on MetaTrader 5.
Two files are provided:
longshortexpertmodified.mqh:
This class extends the default, modifying the checkopen() and checkreverse() methods to enable the opening of desired orders only.
longshortexpertmacd.mq5:
This EA is a simple modification of the embedded expertmacd.mq5 class, including the developed modified expert to allow only the desired order type based on an input parameter. It is provided to demonstrate the expert's use.
longshortexpertmodified
This class modifies the default CExpert class behavior, permitting only a specific order type according to the following enum:
The enum is an input parameter for the final EA, determining the allowed order types. It is used internally to open desired orders and process order reversals only if both position types are permitted (both_position enum value).
To achieve this, the checkopen() and checkreverse() methods are rewritten:
checkopen() is adjusted to check long or short positions exclusively, based on m_positions value.
checkreverse() is modified to check position reversal only when both position types are allowed.
longshortexpertmacd
This class offers a practical EA example of the previous class, derived from the default expertmacd EA included in the MQL5 distribution.
Firstly, the concrete expert class must be included, and the corresponding input parameter added. The external expert is then associated with the subclass, replacing the default CExpert:
After initializing the expert, the parameter is set according to the input value:
No further changes are necessary. The configuration parameters for the expert are as follows:
You may also like: Expert Advisor for Long and Short Trading Systems - excellent alternative for expert users on MetaTrader 5.
Source Code
#property copyright "robotfx"
#property link "https://robotfx.org"
#property version "1.00"
#include <expert\longshortexpertmodified.mqh>
#include <expert\signal\signalmacd.mqh>
#include <expert\trailing\trailingnone.mqh>
#include <expert\money\moneynone.mqh>
input string inp_expert_title ="long/short expertmacd";
int expert_magicnumber =10981;
bool expert_everytick =false;.......
⚠ 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.