one two three
Info
The one two three is a Expert Advisor for MetaTrader 5 that 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).
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 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.
What this tool does
the ea applies ichaikin (chaikin oscillator, cho) indicator to define the market state: flat or trend.
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: mq l5 wizard - trade signals based on three moving averages - another powerful expert for MetaTrader 5 traders.
Also recommended: stochastic three periods - similar expert with strong performance on MetaTrader 5.
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:
You may also like: exp three candles - 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.