Night Flat Trade
This is a powerful addition to your MetaTrader 5 toolkit designed to optimize market analysis and performance. 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 Night Flat Trade
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
Idea by
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MQL5 code by
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The EA is debugged to work with EURUSD and on H1 only in the quietest hours (upon closing the American session and before opening the Asian one).
Input parameters
Take Profit
- Take Profit;
Trailing Stop
- trailing;
Trailing Step
- trailing step;
Difference Min
- the minimum difference between the highest and the lowest price (within the last three bars);
Difference Max
- the maximum difference between the highest and the lowest price (within the last three bars);
Open Hour
- opening hour;
Lots
- lot size (if you set the lot size above zero, then the Risk parameter must be set to zero);
Risk
- risk (if you set the risk above zero, then the Lots parameter must be set to zero);
magic number
- unique identifier for the EA.
