Silver Trend Signal Reopen EA
Info
The Silver Trend Signal Reopen EA is a Expert Advisor for MetaTrader 5 that this trading system, exp_silvertrend_signal_reopen, operates based on signals from a trend-scaling indicator. A signal is generated when a bar closes and a colored indicator arrow appears.
Usage
This tool is typically used for trend following strategies across multiple currency pairs.
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 Silver Trend Signal Reopen EA
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
This trading system, exp_silvertrend_signal_reopen, operates based on signals from a trend-scaling indicator.
Typical Use Case
This Expert Advisor excels in trend following 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: Supertrend Scalper with Breakeven Win Rate Panel - another powerful expert for MetaTrader 5 traders.
This trading system, exp_silvertrend_signal_reopen, operates based on signals from a trend-scaling indicator.Also recommended: Stormbreaker ADX - Supertrend and DMI Trend EA for MT5 - similar expert with strong performance on MetaTrader 5.
A signal is generated when a bar closes and a colored indicator arrow appears.The system then scales the volume of an open position if the profit points of the last trade within that position exceed a predefined threshold in the EA's input parameters.
Information regarding position scaling is stored in the trade comment string in the format: number of scales / price of last deal / volume of last deal.
Place the compiled silvertrend_signal.ex5 file in the <terminal_data_folder>\mql5\indicators directory.
After compilation, the exp_silvertrend_signal_reopen.ex5 expert file will incorporate the silvertrend_signal.ex5 indicator as a resource. Consequently, the indicator does not need to be present in the terminal folder for the compiled EA to function. This is achieved by embedding the indicator's code directly into the EA.
The indicator executable file has been added as a resource at the global scope.
resource \indicators\silvertrend_signal.ex5
String paths to indicators used as resources have been modified in the oninit() function block.
inp_handle=icustom(symbol(),inp_timeframe,"::indicators\silvertrend_signal",ssp,risk,0);
This allows the compiled expert advisor file to be used independently on other trading terminals without requiring separate indicator installations.
The default expert advisor input parameters were utilized for the tests shown below. Stop loss and take profit were not used during these tests.
Figure 1 displays examples of trades on the chart.
Testing results for 2015 on EURUSD H4:
Figure 2 shows the chart of testing results.
You may also like: ATR Trend Guard MT5: Dynamic EMA Crossover Expert Advisor with Integrated Risk Management - excellent alternative for expert users on MetaTrader 5.
Source Code
/.......
⚠ 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.