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Stoch Cross EA – Buy Below 20, Sell Above 80 (H1)
Info
The Stoch Cross EA – Buy Below 20, Sell Above 80 (H1) is a Script for MetaTrader 5 that key features: stochastic crossover strategy:enters a buy position when the stochastic %k line crosses above the %d line, and enters a sell position when the %k line crosses below the %d line. Adjustable Stochastic Periods:Users can customize the %K period ( StochKPeriod ), %D period ( StochDPeriod ), and slowing period ( Slowing ) according to their preferences.
Usage
This tool is typically used for enhancing chart analysis and decision making.
Platform
This Script works exclusively on MetaTrader 5 (both build 600+ and newer versions).
Setup
Place the downloaded file in MQL5/Scripts folder via File ? Open Data Folder in MetaTrader 5.
How to Install and Use Stoch Cross EA – Buy Below 20, Sell Above 80 (H1)
1. Installation: Move your script file into the MQL/Scripts directory and restart the platform.
2. Execution: Drag the script onto a chart; it will perform a one-time action, such as closing all open orders or clearing chart objects.
3. Editing: Use MetaEditor (F4) to modify code, click "Compile," and verify no errors appear in the terminal before running.
4. Removing: Scripts stop automatically, but you can remove them manually by right-clicking the chart and choosing "Remove Script."
Frequently Asked Questions
Q: How are scripts different from EAs? A: Scripts execute a single action and then stop; EAs monitor the market and trade continuously.
Q: Can I assign a hotkey to a script? A: Yes, right-click the script in the Navigator, select "Set Hotkey," and define your preferred keyboard shortcut.
Q: Why did my script stop? A: Scripts are designed to stop immediately after finishing their programmed command; this is normal behavior.
What this tool does
Key Features: Stochastic Crossover Strategy:Enters a Buy position when the Stochastic %K line crosses above the %D line, and enters a Sell position when the %K line crosses below the %D line.
Typical Use Case
This Script excels in automated trading and technical analysis on MetaTrader 5.
Compatible Platform & Setup
This Script works on MetaTrader 5. Place the file in the MQL5/Scripts folder and restart the terminal.
Description & Settings
Related: Cross - another powerful script for MetaTrader 5 traders.
Key Features:
Stochastic Crossover Strategy:
Enters a Buy position when the Stochastic %K line crosses above the %D line, and enters a Sell position when the %K line crosses below the %D line.
Also recommended: Programming Patters - Builder (classic) - similar script with strong performance on MetaTrader 5.
Adjustable Stochastic Periods:
Users can customize the %K period ( StochKPeriod ), %D period ( StochDPeriod ), and slowing period ( Slowing ) according to their preferences.
Entry Cooldown:
The CooldownMinutes feature prevents the EA from executing new trades within a specified time period after a previous trade, helping to avoid whipsaws and impulsive entries.
Fixed Stop Loss and Take Profit:
Each trade is equipped with adjustable Stop Loss and Take Profit in points ( StopLossPoints and TakeProfitPoints ). In the current configuration, both are set at 300 points.
Simple Risk Management:
The lot size for each trade is currently set at a fixed value of 0.1 for easy risk management.
Automatic Position Closure:
The EA automatically closes all open positions before opening a new position based on an opposing Stochastic crossover signal.
Prevention of Duplicate Positions:
The EA checks for the existence of open positions before making a new entry in the same direction.
Trade.mqh Library Implementation:
Utilizes the Trade.mqh library for efficient trade execution.
Adjustable Input Parameters:
RiskPercent : Percentage of risk per trade (currently not used in lot calculation, lot is fixed).
StochKPeriod : Period for the Stochastic %K line.
StochDPeriod : Period for the Stochastic %D line.
Slowing : Slowing period for the Stochastic.
CooldownMinutes : Time interval (in minutes) after a trade before a new entry is allowed.
StopLossPoints : Stop Loss value in points.
TakeProfitPoints : Take Profit value in points.
How to Use:
Place this EA file in the MQL5\Experts folder of your MetaTrader 5 platform.
Drag and drop the EA onto your desired currency pair chart.
Adjust the input parameters according to your preferences and trading strategy.
Ensure that the Auto Trading feature is enabled on your MetaTrader 5 platform.
Important Notes:
This script is provided "as is" without any guarantee of performance.
Thorough backtesting and testing on a demo account are recommended before using it on a live account.
Proper risk management is crucial in trading. While this EA has simple risk management features, you may need to further customize it according to your risk tolerance and account size.
Past performance is not indicative of future results.
You may also like: Close All FI F O - excellent alternative for script users on MetaTrader 5.
⚠ 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.