RVI Histogram Expert Advisor
Info
The RVI Histogram Expert Advisor is a Expert Advisor for MetaTrader 5 that trading system based on indicator signals. The signal is formed when a bar is closing.
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 RVI Histogram 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
Trading system based on indicator signals.
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.
Trading system based on indicator signals. The signal is formed when a bar is closing. The Expert Advisor uses one of two methods to determine the trend, depending on the input value:Also recommended: Automated Live Testing for Expert Advisors on Demo Accounts - similar expert with strong performance on MetaTrader 5.
Upon the intersection of the signal and the main line of the indicator with a change in the signal cloud color.
When the histogram color changes from neutral gray to pink or lime, indicating the RVI oscillator has entered the overbought or oversold zone.
The Expert Advisor requires the compiled indicator file RVI_Histogram.ex5. Save this file to the <terminal_data_folder>\mql5\indicators directory.
The TradeAlgorithms.mqh library file enables the use of Expert Advisors with brokers that offer a non-zero spread and allow setting Stop Loss and Take Profit during position opening.
Default Expert Advisor input parameters were used during the tests. Stop Loss and Take Profit were not utilized during the tests.
Fig. 1. Examples of trades on the chart.
Testing results for 2015 on EURUSD H4:
Fig. 2. Chart of testing results.
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
#property copyright "robotfx"
#property link "https://robotfx.org"
#property version "1.00"
#include <tradealgorithms.mqh>
/*enum marginmode - tradealgorithms.mqh
{
freemargin=0, //mm
balance, //mm
lossfreemargin, //mm
lossbalance, //mm .......
⚠ 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.