One Two Three
This is a powerful addition to your MetaTrader 5 toolkit designed to optimize market analysis and performance. 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 One Two Three
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
The EA applies iChaikin (Chaikin Oscillator, CHO) indicator to define the market state: flat or trend.
Positions are opened only when a new bar appears (and only if there is an open signal), trailing works at each tick (the opportunity to move a stop loss level is checked at each tick).
Flat definition principle
The EA takes
CHO: Number bars for flat
bars and checks the condition: Chaikin Oscillator value should be within the range from
"-" CHO: Flat level
to
"+" CHO: Flat level
on all used bars. Valid accuracy -
Channels Flat or Open
. Suppose that
Channels Flat or Open
is equal to 90%. If out of all bars, 90% or more are within the range from
"-" CHO: Flat level
to
"+" CHO: Flat level
, there is a flat.
Now, what should we do with all that data?
In case of a flat, we simply wait for a new bar's arrival. Otherwise, check Chaikin Oscillator value on bar #0:
if Chaikin Oscillator on bar #0 >=
CHO: Open level
=> BUY open signal
if Chaikin Oscillator on bar #0 <=
- CHO: Open level
=> SELL open signal
For EURUSD M5, the default values are written. The test result:
