This is a MetaTrader 5 (MT5) Moving Average Cross Expert Advisor (EA) created using MQL5 programming language; and is based on the cross of two moving averages; i.e; “Moving Average 1” and “Moving Average 2”.
- “Moving Average 1” has to always be greater than “Moving Average 2”. (So that it logically makes sense; unless one is just trying out different stuff).
- If “Moving Average 2” crosses above “Moving Average 1”, the program will enter a BUY trade.
- If “Moving Average 2” crosses below “Moving Average 1”, the program will enter a SELL trade.
- Users are able to define and modify the lot size, take profit and stop loss.
- Take profit and stop loss are defined in pips.
This is a very simple to use moving average cross expert advisor that users can configure and optimize different variables to fit their preferences.
It can run on almost any financial instrument or asset.
Example of a scenario;
Using the 9 and 36 moving averages to enter trades on the GBPUSD using the 1 hour timeframe targeting a take profit of 30 pips and a stop loss of 20 pips.
Currency pair = GBPUSD
Currency Timeframe/Period = 1 Hour
- Order Send Parameters
- Lot Size = 0.01
- Take Profit = 30
- Stop Loss = 20
- Moving Average(s) Settings
- Moving Average 1 = 36
- Moving Average 2 = 9
- Moving Average Shift = 0
- Moving Average Method = Simple
- Moving Average Type of Price or Handle = Close Price
NB: The EA will apply and use the currency and timeframe based on the chart you place the EA on.
Telegram Channel: https://t.me/FinanceBeta
Telegram Group Chat: https://t.me/joinchat/KOChvq5dglFmMmQ9