N- Candles
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 N- Candles
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 Expert Advisor searches for N identical candlesticks in a row. It buys on bullish candlesticks and sells on bearish ones. The EA checks whether the account is netting or hedging. The , , , and trade classes are used in this code.
What's new in version 7
Closing positions at achieving the profit level equal to
Closing of positions at achievement of the general profit
was added.
Inputs
N identical candles which go in a row
- number of identical candlesticks in a row;
Lot
- the volume of the position to be opened;
Take Profit
- Take Profit; if this value is "0", the parameter is not used;
Stop Loss
- Stop Loss; if this value is "0", the parameter is not used;
Trailing Stop
- Trailing Stop; if this value is "0", the parameter is not used;
Trailing Step
- trailing step; if this value is "0", the parameter is not used;
Max positions certain direction (only for hedging)
- the maximum number of one-direction positions (for hedging only);
Max position volume (only for netting)
- the maximum volume of open positions (for netting only);
Use trade hours
- enable/disable the "working time" parameter;
Start hour
- trading start hour;
End hour
- trading end hour;
Closing of positions at achievement of the general profit
- closing all positions at achieving the profit level (in money terms);
magic number
- the unique EA identifier;
The type of closure at the meeting of the "black sheep"
- the closing type for the "blacksheep."
