my system
Info
The my system is a Expert Advisor for MetaTrader 5 that the ea only operates when a new bar appears. a trading signal from the ibullspower (bulls power) and ibearspower (bears power) indicators is considered only if the market has no positions opened by the ea (the search is performed by the current symbol and the current unique ea identifier - magic number).
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 my system
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
the ea only operates when a new bar appears.
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: ICE (Impulse Confirmation Engine): Advanced Trading System - another powerful expert for MetaTrader 5 traders.
the ea only operates when a new bar appears. a trading signal from the ibullspower (bulls power) and ibearspower (bears power) indicators is considered only if the market has no positions opened by the ea (the search is performed by the current symbol and the current unique ea identifier -
Also recommended: rs i grid ea pro: advanced rsi-based grid trading system - similar expert with strong performance on MetaTrader 5.
magic number).
both indicators feature only one setting -
bulls and bears: averaging period
. trading signal forming algorithm: data from two bars -
bar current
and
bar current+
1 - are taken in both indicators and the values are divided by 2
if the average value on the previous bar is less than on the current one, open buy:
if the average value on the previous bar exceeds the current one, open sell:
eurusd, m15:
You may also like: dominance ea: a minimalist, bias-driven trading 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.