Simple EMA Cross Expert Advisor with Stop Loss, Take Profit, and Magic Number
Info
The Simple EMA Cross Expert Advisor with Stop Loss, Take Profit, and Magic Number is a Expert Advisor for MetaTrader 5 that this expert advisor implements a classic moving average crossover strategy. It opens a buy position when the fast EMA crosses above the slow EMA, and a sell position when the fast EMA crosses below the slow EMA.
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 Simple EMA Cross Expert Advisor with Stop Loss, Take Profit, and Magic Number
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 Expert Advisor implements a classic moving average crossover strategy.
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: pro ma crossover ea for mt5 - another powerful expert for MetaTrader 5 traders.
This Expert Advisor implements a classic moving average crossover strategy. It opens a buy position when the fast EMA crosses above the slow EMA, and a sell position when the fast EMA crosses below the slow EMA. Signals are evaluated on each new candle close to avoid duplicate trades within the same bar.Also recommended: simple moving average (ma) expert advisor - similar expert with strong performance on MetaTrader 5.
Input parameters:
- Fast EMA period (default: 9)
- Slow EMA period (default: 21)
- Stop Loss in points (default: 300, set to 0 to disable)
- Take Profit in points (default: 600, set to 0 to disable)
- Fixed lot size (default: 0.10)
- Magic Number (unique identifier for trades opened by this EA)
You may also like: simple expert advisor: combining sma and adx for effective trading - excellent alternative for expert users on MetaTrader 5.
Source Code
#property copyright "RobotFX"
#property version "1.00"
#property description "This code is educational. Feel free to use, modify and upgrade as you wish. Visit ROBOTFX.ORG for professional trading tools"
#include <Trade/Trade.mqh>
CTrade trade;
input int InpFastEMA = 9;
input int InpSlowEMA = 21;
input int InpStopLoss = 300;
input int InpTakeProfit = 600;
input double InpLotSize = 0.10;.......
⚠ 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.