Spreader
This tool for MetaTrader 5 is specifically engineered to streamline your trading operations. 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 Spreader
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
Idea by:
mq5 code by:
The EA calculates everything independently, i.e., the direction and lot size for opening a position. The calculations are optimal, so that the EA will either quickly accumulate positive spreads and close with a profit, or, in case of anything going wrong, hold a trade until the drawdown recovers. Drwadowns happen and sometimes last long. The EA does not use any indicators and performs calculations based on the last 60-bar history.
Initial deposit for default settings is $10,000
Timeframe: M1
Pairs should have a long-term positive correlation. The Expert Advisor cannot check whether the pairs are correlated positively.
The pairs must have a common base currency for pips. It means, Pairs EURUSD and GBPUSD would suit, since pips are calculated in USD. GBPJPY and CHFJPY would be suitable, too, since pips are calculated in JPY. EURUSD and USDJPY cannot be used, since the pips for the first pair are in USD, while for the second one in JPY.
You cannot place two different EAs with at least one of their currency pairs matching.
In case of dafault settings, you can select six pairs that I found appropriatefor testing on a demo account:
Launch the EA on NZDJPY and write AUDJPY in parameter seconds_instrument
Launch the EA on GBPJPY and write CHFJPY in parameter seconds_instrument
Launch the EA on EURUSD and write GBPUSD in parameter seconds_instrument
