How do I install this Expert on MetaTrader 5?

Download the file, open MetaTrader 5 -> File -> Open Data Folder, copy the file to the correct folder (Experts / Indicators / Scripts / Libraries), then restart the terminal.

How do I activate / load this Expert?

Drag the Expert Advisor from the Navigator panel onto a chart, enable AutoTrading, and allow live trading in the settings.

Is this compatible with MetaTrader 5?

Yes, this Expert is built specifically for MetaTrader 5.

Is this Expert safe to use with real money?

All tools are provided for educational and testing purposes. We strongly recommend testing on a demo account first. Trading involves significant risk of loss.

Can I use this Expert on multiple charts?

Yes, but each chart can only run one Expert Advisor at a time. You can run multiple EAs on different charts.

Can I customize the settings of this Expert?

Yes. Right-click on the chart and select properties to open and adjust parameters.

Free Smoothed Candlesticks Trading System Expert for MetaTrader 5

MetaTrader 5 expert

Download ALL MT5 experts (1731)

Similar MetaTrader Tools

Smoothed Candlesticks Trading System

Info

The Smoothed Candlesticks Trading System is a Expert Advisor for MetaTrader 5 that a trading system utilizing signals from the smoothed candlesticks indicator. A trading signal is generated at the close of a bar when the indicator candlestick color changes from pink to blue or vice versa.

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 Smoothed Candlesticks Trading System

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

A trading system utilizing signals from the Smoothed Candlesticks indicator.

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: automated trading with mq l5 wizard: crossover of two exponentially smoothed moving averages - another powerful expert for MetaTrader 5 traders.

A trading system utilizing signals from the Smoothed Candlesticks indicator. A trading signal is generated at the close of a bar when the indicator candlestick color changes from pink to blue or vice versa.

Also recommended: MQL5 Wizard: Trade Signals Based on Hammer/Hanging Man Candlesticks with CCI Confirmation - similar expert with strong performance on MetaTrader 5.

The Expert Advisor requires the compiled indicator file 'candles_smoothed.ex5'. Please save this file to the \mql5\indicators directory.

The 'tradealgorithms.mqh' library file enables the use of Expert Advisors with brokers offering non-zero spreads and the ability to set Stop Loss and Take Profit during position opening. Additional variants of this library are available for download.

The default Expert Advisor input parameters were used for the tests depicted below. Stop Loss and Take Profit were not utilized during these tests.

Figure 1 displays examples of trades on the chart.

Testing results for 2015 on GBPJPY H12 are shown.

Figure 2 illustrates the chart of testing results.

You may also like: Exponential Smoothed Candles Indicator for MT5 - excellent alternative for expert users on MetaTrader 5.

Source Code

#property copyright "robotfx"
#property link "https://robotfx.org"
#property description "this code is educational. feel free to use, modify and upgrade as you wish. visit robotfx.org for professional trading tools"
#property version   "1.00"
#property indicator_chart_window 
#property indicator_buffers 5
#property indicator_plots   1
#property indicator_type1   draw_color_candles
#property indicator_color1  slateblue, magenta
#property indicator_label1  "smoothed candles open; smoothed candles high; smoothed candles low; smoothed candles close"

.......

Leave your opinion, ask a question, share some knowledge

⚠ 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.