Introduction
Ah, the Hitech MT5, another marvel in the world of automated trading. With a rating of 5 and rave reviews like The MT5 terminal advisor works even better than MT4, quotes are more accurate on real ticks. Excellent! from users like Deiz, it seems like a no-brainer, right? Well, let's not get ahead of ourselves. Before you dive into the world of automated trading with Hitech MT5, let's break down how to install, configure, and use this robot for maximum efficiency.Installation and Setup
First things first, installing Hitech MT5 is straightforward, but setting it up for optimal performance requires a bit more finesse. Follow these steps:- Download the Hitech MT5 robot from this link.
- Open your MetaTrader 5 platform and navigate to the File menu.
- Select Open Data Folder and then go to the MQL5 directory.
- Place the downloaded Hitech MT5 file into the Experts folder.
- Restart MetaTrader 5.
- In the Navigator panel, find Hitech MT5 under Expert Advisors and drag it onto your preferred chart.
Now, let's talk about the settings:
Lots: Set this to 0.01 if you're using a fixed lot size. If you prefer auto lot sizing, set AutoMM to your desired value (e.g., 5000 for conservative trading).
AutoMM: Choose between aggressive (1000) and conservative (7000) settings. The default is 5000.
RecoveryMode: Enable this to allow partial closure from the general grid of orders.
MartinRatio: Set this to 2.5 for the order multiplication coefficient.
FirstNumberGridLevelSettings: Set this to 3 for level support lines.
OneChartSetupMultiCurrencyMode: Enable multi-currency mode for USDCAD, NZDCAD, AUDCAD, and AUDNZD.
Experience Using Hitech MT5
Using Hitech MT5 is like having a double-edged sword. On one hand, it offers a robust trading strategy based on global support and resistance levels, proprietary indicator filters, and a grid of orders with partial closures. On the other hand, it requires constant monitoring and fine-tuning to achieve optimal results.The robot performs admirably on the M15 timeframe, especially with currency pairs like GBPUSD, EURUSD, and USDCAD. However, don't expect it to be a set it and forget it solution. The grid trading strategy can be particularly effective in volatile markets, but it also demands a trader who is both diligent and adaptable.
Tips for Improvement
Even the best trading robots can benefit from a few tweaks. Here are some tips to get the most out of Hitech MT5:- Backtest Regularly: Use historical data to backtest the robot's performance. This will help you understand its behavior under different market conditions.
- Adjust Settings: Don't be afraid to tweak the settings. Adjust the lot sizes, AutoMM, and MartinRatio based on your risk tolerance and trading goals.
- Monitor Performance: Keep an eye on the robot's performance. Use the built-in performance monitoring features to track its activities and make necessary adjustments.
- Stay Updated: The Forex market is constantly evolving. Stay updated with the latest trends and adjust your strategy accordingly.
Source Code of Hitech MT5
We don't have access to the original source code of the Hitech MT5 robot sold on MQL5. However, based on its description, we have created a sample code that mimics its functionalities. This code is available for download on easytradingforum.com. Remember, this is just an example and not the actual code of the Hitech MT5 robot.
Code:
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