secwenta
Info
The secwenta is a Expert Advisor for MetaTrader 5 that the ea only operates when a new bar appears. it always keeps open no more than one open position - therefore it can work both on netting and hedging accounts.
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 secwenta
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 ea only operates when a new bar appears.
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: n candles - another powerful expert for MetaTrader 5 traders.
the ea only operates when a new bar appears. it always keeps open no more than one open position - therefore it can work both on netting and hedging accounts.
Also recommended: ka-gold bot mt5 - similar expert with strong performance on MetaTrader 5.
the algorithm itself is very simple: wait fornumber of bull bars
or
number of bear bars
in a row. it is expected that identical bars arriving in a row hint at the continuation of a trend.
buy open signal is also sell close one.
you can allow the ea to only buy or only sell. for example, only buy trades are available and
number of bull bars
is 2 and
number of bear bars
is 1. in this case, a single incoming bearish bar is a signal to close a buy position.
You may also like: exp st l m candle - 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.