This code is a sample Expert Advisor (EA) for the MetaTrader 5 platform, specifically designed for the AW Smart Grids trading strategy. The EA is developed by the Forex Robot Easy Team and can be found on their website forexroboteasy.com.
AW Smart Grids EA is an advanced forex trading software that implements the Smart Grids trading strategy. The EA uses a Moving Average indicator to determine the market trend and places buy or sell orders accordingly.
The EA follows a simple yet effective strategy. It waits for the price to cross above or below a Moving Average line to identify a potential trend reversal.
When the price crosses above the Moving Average, the EA places a buy order with a specified lot size. The take profit level is set at a certain distance from the entry price, while the stop loss level is set at a smaller distance to limit potential losses.
Conversely, when the price crosses below the Moving Average, the EA places a sell order with the same lot size, take profit, and stop loss levels.
The EA has a maximum limit of orders in the basket, which can be set by the user. If the number of existing orders is below the limit, the EA continues to monitor the market and place new orders when the conditions are met.
MA_Period: Moving Average period used for trend identification.LotSize: Lot size for each trade.TakeProfit: Take profit level in points.StopLoss: Stop loss level in points.MaxOrders: Maximum number of orders in the basket.
Please note that ForexRobotEasy is not the official developer of this product. This code is only a sample that demonstrates the functionality described in the AW Smart Grids EA. To find the official developer and access detailed reviews and trading results of this product, please visit the official MQL5 website.
Click here for detailed reviews and trading results of AW Smart Grids EA
To use the AW Smart Grids EA, follow these steps:
- Open MetaTrader 5.
- Go to 'File' -> 'Open Data Folder' to open the data folder.
- Navigate to the 'MQL5' -> 'Experts' folder.
- Create a new folder and name it 'AW Smart Grids EA'.
- Open a text editor and paste the provided code into a new file.
- Save the file with the extension '.mq5' in the 'AW Smart Grids EA' folder.
- Restart MetaTrader 5.
- Open a chart for the desired symbol and timeframe.
- Drag and drop the AW Smart Grids EA from the Navigator window onto the chart.
- Adjust the input parameters as desired.
- Enable automated trading and allow live trading in the platform settings.
- Monitor the EA's performance and make necessary adjustments.
Please note that proper configuration and testing are essential before using the EA with real funds. It is recommended to use a demo account or perform backtesting to evaluate the EA's performance and adapt it to your trading preferences and risk tolerance.
This code is provided as a sample and demonstration of the AW Smart Grids EA. ForexRobotEasy is not the official developer of this product. We recommend visiting the official MQL5 website to find the official developer and access detailed reviews and trading results of this product.
Please trade responsibly and use this EA at your own risk. The forex market involves substantial risks, and past performance is not indicative of future results. Always perform thorough testing and analysis before using any trading software or strategy.