Pipso Trading Expert Advisor
Info
The Pipso Trading Expert Advisor is a Expert Advisor for MetaTrader 5 that the expert advisor (ea) operates within a user-defined time interval, analyzing high and low price points over a specified number of bars. The EA incorporates safeguards to prevent 'not enough money' errors.
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 Pipso Trading 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 (EA) operates within a user-defined time interval, analyzing high and low price points over a specified number of bars.
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: Tick Scalper Helper: Tick Chart and One-Click Trading Panel for MT5 - another powerful expert for MetaTrader 5 traders.
The Expert Advisor (EA) operates within a user-defined time interval, analyzing high and low price points over a specified number of bars.Also recommended: Basket Pair Closer: Efficiently Close Trading Positions - similar expert with strong performance on MetaTrader 5.
The EA incorporates safeguards to prevent 'not enough money' errors.
High and low price levels are determined based on the configured bar interval.
A buy position is initiated when the low price is breached.
A sell position is initiated when the high price is breached.
Before opening a buy position, all existing sell trades are closed.
Before opening a sell position, all existing buy trades are closed.
You may also like: CME Equity Index Futures Holiday Calendar and Trading Halt Automation - 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.