probability theory expert advisor for forex
Info
The probability theory expert advisor for forex is a Expert Advisor for MetaTrader 5 that one of my oldest ideas. this code is an expert advisor (ea) for the metatrader 5 platform, which uses probability theory to determine the probabilities of growth and fall in the price of a financial instrument.
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 probability theory expert advisor for forex
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
one of my oldest ideas.
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: well martin - another powerful expert for MetaTrader 5 traders.
one of my oldest ideas. this code is an expert advisor (ea) for the metatrader 5 platform, which uses probability theory to determine the probabilities of growth and fall in the price of a financial instrument.
Also recommended: exp color zerolag rsio s m a - similar expert with strong performance on MetaTrader 5.
ea analyses the price history for a certain number of bars (10000 by default) and calculates the number of times the price closed above or below the open by a certain number of pips (400 by default) within a cluster of a given number of bars (50 by default). based on this data, ea calculates the probabilities of price rise and fall and displays them in comments to the chart.ea can also perform trade operations based on the calculated probabilities. if the probability of price rise exceeds 51%, ea can open a buy position, and if the probability of price fall exceeds 51%, ea can open a sell position.
when opening trading positions, ea can use a fixed lot size or calculate it based on the specified risk and current account balance. if stoploss and takeprofit values are set, ea will set the appropriate levels when opening a position.
to start, the flag must be set to true:
it does not make profit and will never do so. everything that concerns counting movements, waves, the chance of reaching stop and takeprofit is nonsense. the market is too complicated for such simple algorithms and ideas.
You may also like: nextbar - excellent alternative for expert users on MetaTrader 5.
Source Code
яю//+------------------------------------------------------------------+
#property copyright "RobotFX"
#property link "https://robotfx.org"
#property version "1.00"
#property description "Educational code - RobotFX www.robotfx.org"
#property strict
#define HISTORY_BARS 1000 // :>;8G5AB2> 10@>2 8AB>@88
input double Lots = 0.1; // ;>B
input double Risk = 2; // @8A:
input int StopLoss = 0; // ;>AL.......
⚠ 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.