ma envelopes
Info
The ma envelopes is a Expert Advisor for MetaTrader 5 that note: the ea works on hedge accounts only. netting is prohibited.
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 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.
What this tool does
note: the ea works on hedge accounts only.
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: Expert Trend Envelopes - another powerful expert for MetaTrader 5 traders.
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
Also recommended: exp color qe m a envelopes digit system - similar expert with strong performance on MetaTrader 5.
start hourto
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:
You may also like: exp color pe m a envelopes digit system - 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.