Over Hedge
This software component for MetaTrader 5 is built to enhance the capabilities of your trading environment. 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 Over Hedge
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
Closing positions
This EA sets the level of the total profit of all positions (opened by the EA) in points - "
Total Profit Target
" parameter. At the same time, there is a limitation: not a single PROFITABLE position may have profit LESS than "
Minimal Profit Target
". Thus, the minimum profit threshold in points for positions is set. This approach gives a more qualitative profitability graph than the standard approach of closing the position by profit expressed in money.
Defining a trend
Moving Average "Short" is ABOVE Moving Average "Long" on "
Minimum distance between MA's to determine the trend
" - upward trend
Moving Average "Short" is BELOW Moving Average "Long" on "
Minimum distance between MA's to determine the trend
" - downward trend
Inputs
Start Lots - initial lot
Base (Lot=Start Lots * MathPow(Base,Number of open positions)) - basis for exponentiation, used to calculate position volume
Shutdown Grid - forced closing of all positions and EA operation stop
Tunnel width (in pips)
Total Profit Target (in pips)
Minimal Profit Target (in pips)
MA Short: averaging period
MA Long: averaging period
Minimum distance between MA's to determine the trend (in pips) - minimum distance between indicators for defining a trend
magic number - unique EA identifier
Test for EURUSD M5:
