VL T TRA D E R
This professional-grade solution for MetaTrader 5 helps traders achieve greater efficiency in their daily workflow. 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 VL T TRA D E R
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
How it works
If the bar is formed with a size of a shade less than the lowest bar for a specified number of bars, the setting of two pending stop orders is performed. When one of the orders is triggered, the second is removed.
Trade signals definition is delivered to the indicator. When the indicator has one period parameter, i.e. the number of bars on which the minimum bar size is determined. The green line shows the current bar size, the blue line is a minimum bar size, points are the signals of setting orders.
The image 1 shows the performance of the Expert Advisor in the strategy tester's visual mode, the image 2 shows the results of the tester.
Fig. 1. How the Expert Advisor works.
Fig. 2. The results of work of the Expert Advisor for the last month (09.2012) at EURUSD M15.
Parameters
period - The period of the indicator.
PendingLevel - The level of setting pending orders from High/Low of the previous bar.
Lots - Lot.
StopLoss - Stop Loss in points, 0 - without Stop Loss.
TakeProfit - Take Profit in points, 0 - without Take Profit.
