zig zag ea
Info
The zig zag ea is a Expert Advisor for MetaTrader 5 that the ea applies data from the zigzag custom indicator. this indicator is used to define the channel.
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 zig zag ea
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 ea applies data from the zigzag custom indicator.
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 Adjustment Panel for MT5 - another powerful expert for MetaTrader 5 traders.
the ea applies data from the zigzag custom indicator. this indicator is used to define the channel. buy stop and sell stop pending orders are placed along the channel borders. after a pending order is activated, trailing can be enabled for a position. stop loss and take profit values are specified in fibo levels (0.0%, 23.6%, 38.2%, 50%, 61.8%, 100%, 161.8%, 261.8% and 423.6%).
Also recommended: Quantora Trade Manager MT5: Advanced Position Management - similar expert with strong performance on MetaTrader 5.
inputszigzag settings:
depth;
deviation;
backstep.
ea operation time:
operation start, hours;
operation start, minutes;
operation stop, hours;
operation stop, minutes.
channel and indent settings:
indent in points;
minimum channel size;
maximum channel size.
ММ settings:
lots;
risk.
ea settings:
stop loss in %;
take profit in %;
trailing stop (in pips);
trailing step (in pips);
show channel lines;
magic number.
eurusd,m15:
You may also like: Quantora Break Even Manager MT5 - Automated Stop Loss Protection - 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.