Prophet Expert Advisor
Info
The Prophet Expert Advisor is a Expert Advisor for MetaTrader 5 that attention: parameters should be optimized on the m5 timeframe for the last 12 weeks. The Prophet Expert Advisor consists of two independent linear perceptrons.
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 Prophet 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
Attention: Parameters should be optimized on the M5 timeframe for the last 12 weeks.
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: VPS Toolkit: Secure Order Sending and Restart-Safe State for Expert Advisors - another powerful expert for MetaTrader 5 traders.
Attention: Parameters should be optimized on the M5 timeframe for the last 12 weeks!Also recommended: Automated Live Testing for Expert Advisors on Demo Accounts - similar expert with strong performance on MetaTrader 5.
The Prophet Expert Advisor consists of two independent linear perceptrons.
Each of them separates the input features — candlestick shifts — into two classes.
Perceptron #1:
Class #1: Buy
Class #2: Flat or Sell
Perceptron #2:
Class #1: Sell
Class #2: Flat or Buy
This is the main idea of the EA — not to combine the only buy and only sell classes in one perceptron.
Optimization is performed for the previous 12 weeks, on weekends, in two stages.
Stage #1:
Set variables to dabuy=true and dasell=false. Optimize only the weights x1, x2, x3, x4 from 1 to 200 and the movable stop loss slb from 30 to 100, everything with a step of 1.
Stage #2:
Set variables to dabuy=false and dasell=true. Optimize only the weights y1, y2, y3, y4 from 1 to 200 and the movable stop loss sls from 30 to 100, everything with a step of 1.
After optimization, both dabuy and dasell variables are set to true.
The obtained results are valid for the next /future/ week.
You may also like: Programmatically Attach Expert Advisors with Custom Inputs to MetaTrader 5 Charts - 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.