Open Time Expert Advisor
Info
The Open Time Expert Advisor is a Expert Advisor for MetaTrader 5 that the expert advisor facilitates position openings at designated times, offering distinct permissions for buy and sell operations. It can also execute position closures at specific times, with the added flexibility of setting stop loss, take profit, and trailing stop.
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 Open Time Expert Advisor
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 expert advisor facilitates position openings at designated times, offering distinct permissions for buy and sell operations.
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: Accurate Broker GMT Offset and Daylight Saving Time Rules from Price History - another powerful expert for MetaTrader 5 traders.
The expert advisor facilitates position openings at designated times, offering distinct permissions for buy and sell operations. It can also execute position closures at specific times, with the added flexibility of setting stop loss, take profit, and trailing stop.Also recommended: Telegram Trade Notifier: Real-time Alerts and Daily Summaries - similar expert with strong performance on MetaTrader 5.
Position Closing Options
- Use Position Closing Time: Enable or disable time-based position closing.
- Closing Hour: Define the target hour for closing.
- Minutes of Position Closing: Specify the minutes for closing.
- Trailing: Activate the trailing stop function.
- Trailing Stop (in pips): Set the trailing stop value.
- Trailing Step (in pips): Adjust the trailing step value.
Position Opening Settings
- Opening Hour: Set the position opening hour.
- Minutes of Position Opening: Determine the position opening minutes.
- Duration in Seconds: Establish the duration for position opening.
- Use Sell: Permit the EA to open sell positions.
- Use Buy: Allow the EA to open buy positions.
- Volume Transaction: Set the position volume.
- Stoploss (in pips): Configure the stop loss value.
- Takeprofit (in pips): Set the take profit value.
Advisor Options
- Magicnumber: Magic number.
For optimal EA performance, a two-step optimization process is recommended. In the initial step, focus on fine-tuning the critical parameters. Subsequently, select the most promising variant, disable the settings from the first step, and enable the remaining parameters.
One of the results on EURUSD, H1:
Note: This description provides a comprehensive overview of the expert advisor's capabilities, ensuring a clear understanding of its functionality.
You may also like: Opening Range Breakout with NR4 / NR7 Contraction Filters (2026 Update) - 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.