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 Time-Based Trading Expert Advisor for MT4/MT5 Expert for MetaTrader 5

MetaTrader 5 expert

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Time-Based Trading Expert Advisor for MT4/MT5

Info

The Time-Based Trading Expert Advisor for MT4/MT5 is a Expert Advisor for MetaTrader 5 that this expert advisor (ea) manages the opening and closing of trading positions based on predefined time parameters. EA Inputs:Share of Deposit in Deal: Specifies the percentage of the account balance to be used for each trade.

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 Time-Based Trading Expert Advisor for MT4/MT5

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) manages the opening and closing of trading positions based on predefined time parameters.

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) manages the opening and closing of trading positions based on predefined time parameters.

Also recommended: Basket Pair Closer: Efficiently Close Trading Positions - similar expert with strong performance on MetaTrader 5.

EA Inputs:

Share of Deposit in Deal: Specifies the percentage of the account balance to be used for each trade.
Lot Value Detection Method: Determines how the lot size is calculated (e.g., fixed lot, percentage of equity).
Stop Loss (in points): Sets the maximum acceptable loss for a trade.
Take Profit (in points): Sets the target profit level for a trade.
Maximum Price Deviation (in points): Defines the acceptable slippage when placing orders.
Trade Direction: Specifies whether the EA will trade ('buy' or 'sell').
Position Open Time: The exact date and time for opening a trade.
Position Close Time: The exact date and time for closing a trade.
Trading Interval (in seconds): Sets the time accuracy for executing trades.

Note: The included tradealgorithms.mqh library enables the use of Expert Advisors with brokers that have a non-zero spread and allow setting Stop Loss and Take Profit simultaneously with order opening. Additional library variants can be found at the provided link. This EA is designed for use with MetaTrader 4 and MetaTrader 5 platforms.
The EA opens and closes positions at the predefined moments in time.

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.