traling line
Info
The traling line is a Expert Advisor for MetaTrader 5 that the expert advisor is intended to be used on forex hedging accounts. it has not been tested on netting accounts.
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 traling line
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
the expert advisor is intended to be used on forex hedging accounts.
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: trade signals based on crossover of main and signal lines of macd indicator - another powerful expert for MetaTrader 5 traders.
Also recommended: mq l5 wizard - trade signals based on crossover of lines of the alligator indicator - similar expert with strong performance on MetaTrader 5.
the expert advisor is intended to be used on forex hedging accounts. it has not been tested on netting accounts.when a new position appears, the ea draws a trend line, which can be moved as desired.
the trend line will be below the opening price for buy positions and above the opening price for sell positions, and also 2 bars to the right (into future), where they will remain and will be moved when a new bar appears.
if the trend line is later moved, so that it becomes lower than the buy position, for example, the ea will generate a message indicating the price and profit or loss with which all positions will be closed.
You may also like: trade signals based on dark cloud cover/piercing line + stochastic - 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.