Statistical Trading Advisor for MetaTrader
Info
The Statistical Trading Advisor for MetaTrader is a Expert Advisor for MetaTrader 5 that this expert advisor (ea) analyzes trading opportunities based on historical bar data and trading outcomes. The EA identifies bars where the opening time (hour and minute) matches the current bar's opening time.
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 Statistical Trading Advisor for MetaTrader
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 (EA) analyzes trading opportunities based on historical bar data and trading outcomes.
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: Tick Scalper Helper: Tick Chart and One-Click Trading Panel for MT5 - another powerful expert for MetaTrader 5 traders.
This Expert Advisor (EA) analyzes trading opportunities based on historical bar data and trading outcomes.Also recommended: Basket Pair Closer: Efficiently Close Trading Positions - similar expert with strong performance on MetaTrader 5.
The EA identifies bars where the opening time (hour and minute) matches the current bar's opening time.
Lot Size Management:
- The EA implements a loss-increasing lot strategy. If the previous trade was closed at a loss, the lot size is increased for the next trade.
- For profitable trades, the initial lot size specified by the 'lots' parameter is used.
- The EA specifically targets trades that involve a market exit type.
Stop Loss:
- A stop loss feature is incorporated into the trading logic.
Inputs:
- Minimum Candle Height: Allows setting a minimum height for candles to be considered (set to "0" to disable this feature).
- Lots: The base lot size for trades.
- Stop Loss (in pips): Configures the stop loss level in pips.
- Days of History: The EA examines a specified number of past trading days to identify patterns.
Trading Strategy:
The EA searches through the 'Days of History' to find bullish and bearish bars. If the total size of identified bullish bars exceeds the total size of identified bearish bars within the specified history, a buy position is opened. Conversely, if the size of bearish bars is greater, a sell position is opened.
This trading system is designed for use with MetaTrader 4 and MetaTrader 5 platforms and was last updated in 2026.
You may also like: CME Equity Index Futures Holiday Calendar and Trading Halt Automation - excellent alternative for expert users on MetaTrader 5.
Source Code
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⚠ 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.