Starter
This is a powerful addition to your MetaTrader 5 toolkit designed to optimize market analysis and performance. 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 Starter
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 EA applies position volume calculation based on trading history:
Maximum Risk in percentage
Decrease factor (activated if loss-making trades are detected)
History days - number of analyzed days in history from the current date
The EA applies iCCI (Commodity Channel Index) and iMA (Moving Average) indicators, as well as trailing.
For iCCI (Commodity Channel Index),
CCI level
is set as an integer, since this allows rounding the indicator values. Also,
CCI current bar
and
CCI previous bar
are set. These are the bars CCI values are taken from.
For iMA (Moving Average), only
MA bar current
is set. The previous bar for MA is
MA bar current+1
. Also, the
MA delta
parameter is set for MA - difference between the current and the previous bars.
