nova
Info
The nova is a Expert Advisor for MetaTrader 5 that input parameters n-seconds ago- the number of seconds to record price movement. step (in pips)- step value.
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 nova
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
input parameters n-seconds ago- the number of seconds to record price movement.
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: exp color xm u v tm - another powerful expert for MetaTrader 5 traders.
input parametersn-seconds ago
- the number of seconds to record price movement.
step (in pips)
- step value.
Also recommended: rkd expert advisor for metatrader 5 - similar expert with strong performance on MetaTrader 5.
lots
- position volume.
stop loss (in pips)
- stop loss value.
take profit (in pips)
- take profit value.
coefficient, if the stop-loss is triggered
- lot increase ratio after the stop loss.
the expert advisor analyzes the last '
n-seconds ago
' seconds and compares with the current price.
the expert advisor monitors triggering of stop loss and take profit by using the excellent enumeration :
if stop loss has triggered, the lot of the next position will be increased in accordance with the '
coefficient, if the stop-loss is triggered
' parameter.
position opening rules
buy
- bar #1 must be bullish (close > open) and the current price must be higher than the price '
n-seconds ago
' by '
step
'.
sell
- bar #1 must be bearish (close < open) and the current price must be lower than the price '
n-seconds ago
' by '
step
'.
You may also like: Bulls Bears Expert Advisor - excellent alternative for expert users on MetaTrader 5.
Source Code
/.......
⚠ 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.