Simple FX
This software component for MetaTrader 5 is built to enhance the capabilities of your trading environment. This Expert Advisor serves as automated trading software. It is utilized to monitor financial markets and execute trades based on predefined algorithmic rules, enabling precise position management without the need for constant manual oversight.
How to Setup and Use Simple FX
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.
Description & Settings
The Expert Advisor is based on moving averages crossing.
Simple FX EA trades Forex automatically using the moving averages.The MAs feature customizable period, method and type. Order settings (lot size, slippage and magic number) can be changed as well. The EA trades on
any pairs
. The best results are shown on
D1
.
Added customizable s/l and t/p
Fixed s/l and t/p code
Now, the EA waits for the first MA crossing
If an order reaches s/l or t/p, the EA waits for the next MA crossing
Critical variables are saved to file automatically
The EAa is very simple. When the short MA is above the long one, the trend is considered bullish. The EA closes sell orders (if any) and opens a buy one. When the short MA is below the long one, the trend is considered bearish. The EA closes its buy orders (if any) and opens a sell one. Thus, the EA remains on the market sliding over bullish and bearish trends.
The Stop_Loss and Take_Profit variables are optional which means that their values can be left at zero without affecting the EA operation. If you want more control over the EA, you may change them. For example, if you set Take_Profit to 20, the EA will open positions with a take profit at 20 pips.
