MA Envelopes
This is a powerful addition to your MetaTrader 5 toolkit designed to optimize market analysis and performance. 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 MA Envelopes
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
NOTE: The EA works on hedge accounts only! Netting is prohibited!
The Expert Advisor sets pending Buy limit and Stop limit orders. The robot uses data of the iMA (Moving Average, MA) and iEnvelopes (Envelopes) indicators. The EA works only when a new bar appears and has a limitation of the working time range: from
Start hour
to
End hour.
It is able to set up to three pending limit orders in each direction forming a grid: a separate magic number is assigned to each order. Magic number assignment rule:
for BUY #1:
magic number
+ 1
for BUY #2:
magic number
+ 2
for BUY #3:
magic number
+3
for SELL#1:
magic number
- 1
for SELL#2:
magic number
- 2
for SELL#3:
magic number
- 3
If there are non-activated pending orders, and the server time exceeds
End hour
, all pending orders are removed.
The default parameters, EURUSD M5:
