nr t r revers
Info
The nr t r revers is a Expert Advisor for MetaTrader 5 that idea by:code mq5 by:the ea is only working at the moment when a new bar appears (except for trailing that is active at each tick). trade signals are formed based on indicator iatr (average true range, atr) on the analysis of the high and the low of prices within the interval.
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 nr t r revers
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:code mq5 by:the ea is only working at the moment when a new bar appears (except for trailing that is active at each tick).
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: Weekly Day Reversal Expert Advisor - another powerful expert for MetaTrader 5 traders.
idea by:
code mq5 by:
the ea is only working at the moment when a new bar appears (except for trailing that is active at each tick). trade signals are formed based on indicator iatr (average true range, atr) on the analysis of the high and the low of prices within the interval.
Also recommended: trade signals using reversal candlestick patterns in mql5 - similar expert with strong performance on MetaTrader 5.
first, the volatility range (different
) is found: the value of indicator atr on bar #1 is multiplied by "coefficient of volatility." then we calculate depending on the current trend.
if the current trend is buy:
we find the minimum within the interval from bar #2 to the atr averaging period minus 1. suppose "atr: averaging period" is 9. then we will search for the minimum within the interval from bar #2 to bar #8
if the close price of bar #1 is below the found minimum by
different
- it is a signal to close buy positions and open sell positions.
the current trend is set to "sell:
the same is done for sell positions.
You may also like: trade signals based on 3 black crows/3 white soldiers reversal patterns with rsi confirmation - 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.