My System
This software component for MetaTrader 5 is built to enhance the capabilities of your trading environment. 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 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.
Description & Settings
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
).
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:
