momentum-m15
Info
The momentum-m15 is a Expert Advisor for MetaTrader 5 that idea by:. mql5 code by:.
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 momentum-m15
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
idea by:.
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: exp xderivative - another powerful expert for MetaTrader 5 traders.
idea by
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mql5 code by
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the ea trades on two indicators: ima (moving average, ma) and imomentum (momentum). the ea also takes into consideration the close prices of bar #1 and the open prices of bar #0 at opening the positions, and the close prices of bar #1 and the high prices of bar #0 and the low prices of bar #0 at closing or trailing the positions.
Also recommended: exp color schaff wp r trend cycle - similar expert with strong performance on MetaTrader 5.
the ea works at the moment of forming a new bar only, and allows holding only one position in the market.in optimization, i recommend to use a genetic algorithm and the "1 minute ohlc" tick generation mode. an example of which parameters and within which timeframes can be searched in:
test on the usdjpy symbol, h1, with the parameters of their "value" column (however, for better validation, this sing test was performed in the "every tick based on reak ticks" tick generation mode).
You may also like: js-chaos - 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.