pipsover
Info
The pipsover is a Expert Advisor for MetaTrader 5 that pipsing expert advisor. it works based on the ichaikin (chaikin oscillator) and ima (moving average, ma) indicators.
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 pipsover
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
pipsing expert advisor.
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: pipsover 2 - another powerful expert for MetaTrader 5 traders.
pipsing expert advisor. it works based on the ichaikin (chaikin oscillator) and ima (moving average, ma) indicators.
it works on smaller timeframes.
Also recommended: EXP OS HM A - similar expert with strong performance on MetaTrader 5.
. default settings are for audusd m5.the strategy uses the chaikin oscillator and the 20-period moving average to attempt to determine the moment of potential trend reversal or rollbacks. to do that the ea first checks the chaikin oscillator, and if it exceeds a certain value, the price goes over the moving average and the previous candle reversed, then there is either a rollback or a reversal is present. so, the ea places an order in the direction specified by the previous candle. if a position was opened and there is a suspicion of a rollback in the direction opposite to the position, lock is by an opposite position. in this case a strong trend will hit one of the stops and will give an opportunity to earn a few extra pips.why not use the rsi, for instance, to achieve the same goals? because the rsi does not consider the market activity, and only considers ranges. the chaikin oscillator, however, considers the volumes. during an uptrend the rsi will repeatedly indicate overbought state and during a downtrend - oversold state, i.e. it acts against the trend. as a result, if you attempt to use it to catch the reversal moment, there will be multiple false triggers in a row, before the trend actually reverses. in a ranging market, the rsi is always inferior to chaikin.
You may also like: exp i-kl price - 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.