oh l c check
Info
The oh l c check is a Expert Advisor for MetaTrader 5 that 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 lossand take profitcan be disabled.
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 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.
What this tool does
idea by:the ea only operates when a new bar emerges.
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: sample check pending order - another powerful expert for MetaTrader 5 traders.
idea by
:
the ea only operates when a new bar emerges.
trading system signals
Also recommended: check the time periods used - similar expert with strong performance on MetaTrader 5.
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":
You may also like: check trades - 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.