OH L C Check
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 OH L C Check
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
:
The EA only operates when a new bar emerges.
Trading system signals
A signal to open a BUY position: if Close price of bar #
Bar index for signal checking
> Open price of bar #
Bar index for signal checking
;
A signal to open a SELL position: if Close price of bar #
Bar index for signal checking
< Open price of bar #
Bar index for signal checking
; Trading settings
Stop Loss
and
Take Profit
can be disabled. To do this, set the appropriate parameter value to
0.0
. Trading signals can be reversed using parameter
Enable/disable reverse mode for trading
. If the current spread is greater than
Maximum allowed spread
, the position open signal should be ignored.
Working Timeframe
For convenience of testing,
Work TimeFrame
is available as a separate parameter. This enables to test the Expert Advisor on the selected symbol using all timeframes.
Position volume calculation
The EA can trade a constant lot (
Lots
> 0 and
Risk
== 0), as well as use dynamic calculation (
Lots
== 0 and
Risk
> 0). Here:
Lots
- fixed position volume (in this case the
Risk
parameter should be equal to zero);
Risk
- risk as percent per trade (in this case the
Lots
parameter should be equal to zero).
Symbol EURUSD, "Every tick based on real ticks":
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