Simple Price EA
What this tool does
The Simple Price EA is a Expert Advisor for MetaTrader 5 that the algorithm of the expert advisor is simple: the minimum and maximum price is searched for on the number of bars specified in the input parameters. As soon as one of the current Ask or Bid prices reaches these values, the corresponding position will be opened immediately.
Typical Use Case
This tool is typically used for automated trading on major forex pairs and gold.
Compatible Platform
This Expert Advisor works exclusively on MetaTrader 5 (both build 600+ and newer versions).
Setup Location
Place the downloaded file in MQL5/Experts folder via File ? Open Data Folder in MetaTrader 5.
How to Install and Use Simple Price 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.
Description & Settings
The algorithm of the Expert Advisor is simple: the minimum and maximum price is searched for on the number of bars specified in the input parameters. As soon as one of the current Ask or Bid prices reaches these values, the corresponding position will be opened immediately. The Expert Advisor can open only one long or one short position. In the input parameters of the Expert Advisor there is only one setting - "Number of bars to analyse the price movement".
