Simple Trade
This tool for MetaTrader 5 is specifically engineered to streamline your trading operations. 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 Trade
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 compares open prices of the zero and third bar.
Condition to open a Buy position:
if(iOpen(0)>iOpen(3))
- If the opening price of a zero bar is higher than the opening price of the third bar.
Condition to open a Sell position:
if(iOpen(0)<=iOpen(3))
- If the opening price of a zero bar is less than or equal the opening price of the third bar.
Position is closed by StopLoss or at the beginning of the next bar:
Since the EA works at the moment of emergence of a new bar, it is equipped with several protection steps — so as to avoid missing a whole bar due to possible position opening errors.
For example, if we cannot update the current prices, we should then reset the timer (static variable):
Also we check the result of the trading operation:
The or method must return true
and the method should return a non-zero value
if an error occurs, we reset the timer:
