Nova
This professional-grade solution for MetaTrader 5 helps traders achieve greater efficiency in their daily workflow. 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 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.
Description & Settings
N-seconds ago
- the number of seconds to record price movement.
Step (in pips)
- step value.
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
'.
