nextbar
Info
The nextbar is a Expert Advisor for MetaTrader 5 that idea by:the expert advisor operates (opens positions and checks the possibility of closing) only at the moment of bar emergence. the trailing function operates (checks the possibility to move stop loss) on every tick.
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 nextbar
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:the expert advisor operates (opens positions and checks the possibility of closing) only at the moment of bar emergence.
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: bill williams - another powerful expert for MetaTrader 5 traders.
idea by
:
the expert advisor operates (opens positions and checks the possibility of closing) only at the moment of bar emergence. the trailing function operates (checks the possibility to move stop loss) on every tick.
Also recommended: 10 pips - similar expert with strong performance on MetaTrader 5.
the volume of the opened position is equal tolots
.
stop loss
,
take profit
and
trailing stop
can be disabled by setting the appropriate parameter to "0.0".
trading system signals
the ea compares the bar #1 close price with the
signal bar
close price (the
signal bar
value cannot be less than 2, otherwise it is considered to be an error and the ea is unloaded). the difference between the closing prices of these two bars should be greater than
minimum distance
.
another restriction: a signal is generated when there are no open positions.
signals when
use reverse signals
= false:
buy signal: close of bar #1 - close of bar #
signal bar
>
minimum distance
;
sell signal: close of bar #
signal bar
- close of bar #1 >
minimum distance
.
if
use reverse signals
= true, the generated signal is reversed.
position lifetime is also checked at a new bar emergence: if it reached
lifetime of the position
bars, the position will be closed.
an example of how the reverse of signals influences eurusd, h1:
You may also like: exp 3 rv i - 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.