Stealth EA with Virtual Take Profit and Stop Loss
Info
The Stealth EA with Virtual Take Profit and Stop Loss is a Expert Advisor for MetaTrader 5 that this expert advisor (ea) operates as a stealth program, managing positions through the use of labels. This method of operation has been thoroughly tested and is effective with specific brokers.
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 Stealth EA with Virtual Take Profit and Stop Loss
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) operates as a stealth program, managing positions through the use of labels.
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: Supertrend Scalper with Breakeven Win Rate Panel - another powerful expert for MetaTrader 5 traders.
This Expert Advisor (EA) operates as a stealth program, managing positions through the use of labels. This method of operation has been thoroughly tested and is effective with specific brokers.Also recommended: Data Snooping: Robustness Testing with SPA, Reality Check, StepM, and Model Confidence Set - similar expert with strong performance on MetaTrader 5.
EA Functionality:
- Virtual Take Profit
- Virtual Stop Loss
- Breakeven
When orders are identified on the chart, the EA utilizes labels to visually represent the prices for closing trades via take profit, stop loss, and breakeven levels.
The EA supports simultaneous operation with different magic numbers. To enable this, set the "magic" parameter to "0".
Expert Advisor Parameters:
- Take Profit (if 0, not used)
- Stop Loss (if 0, not used)
- Breakeven (if 0, not used)
- Minimum profit for breakeven
- Magic number (if 0, all magic numbers are used)
- Slippage
- Number of comment lines (if 0, comments are not displayed)
Labels:
- Green label: Indicates the breakeven level.
- Red label: Indicates the stop loss level.
- Blue label: Indicates the take profit level.
Example of EA operation:
You may also like: Regime HMM: Identifying Market Regimes with Hidden Markov Models - 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.