Modified Moving Averages
This tool for MetaTrader 5 is specifically engineered to streamline your trading operations. 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 Modified Moving Averages
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
Idea by
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MQL5 code by
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A modified EA from the standard delivery: MQL5\Experts\Examples\Moving Average\Moving Average
Parameters "StopLoss" and "TakeProfit" are added. Moreover, if you set parameter "Lots" with a minus, it means that the lot size will never change. For instance, the value of "-0.1" means that the lot of "0.1" will always be the same for all positions.
Input parameters
Lots
- lot size; if parameter "Lots" is set with a minus, the lot size will always be the same;
Maximum Risk in percentage
- maximum risk;
Decrease factor
- decrease factor;
Moving Average period
- period of indicator Moving Average;
Moving Average shift
- horizontal shift of indicator Moving Average;
StopLoss
- Stop Loss;
TakeProfit
- Take Profit.
If you set Stop Loss or Take Profit to zero, it means that the parameter is disabled.
