Nova Expert Advisor
Info
The Nova Expert Advisor is a Expert Advisor for MetaTrader 5 that this expert advisor (ea) is designed to automate trading strategies based on price movement and specific input parameters. Input Parameters- N-Seconds Ago: The number of seconds to record price movement.
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 Expert Advisor
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
This Expert Advisor (EA) is designed to automate trading strategies based on price movement and specific input parameters.
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: VPS Toolkit: Secure Order Sending and Restart-Safe State for Expert Advisors - another powerful expert for MetaTrader 5 traders.
This Expert Advisor (EA) is designed to automate trading strategies based on price movement and specific input parameters.Also recommended: Automated Live Testing for Expert Advisors on Demo Accounts - similar expert with strong performance on MetaTrader 5.
Input Parameters
- N-Seconds Ago: The number of seconds to record price movement.
- Step (in pips): The step value for price movement.
- Lots: Position volume.
- Stop Loss (in pips): Stop loss value.
- Take Profit (in pips): Take profit value.
- Coefficient (if stop-loss is triggered): Lot increase ratio after a stop loss.
The EA analyzes the last 'N-Seconds Ago' seconds of price movement and compares it with the current price.
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'.
Stop Loss and Take Profit Monitoring
The EA monitors the triggering of stop loss and take profit using an enumeration technique. If the stop loss is triggered, the lot size for the next position will be increased according to the 'Coefficient' parameter.
You may also like: Programmatically Attach Expert Advisors with Custom Inputs to MetaTrader 5 Charts - 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.