# [Title] Expert Advisor (EA) for MetaTrader 5
## Overview
This document provides an explanation of the [title] Expert Advisor (EA) designed for MetaTrader 5 (MT5). This EA is a trading robot that automates the process of opening and managing trades in the forex market using the MetaTrader 5 platform.
## Table of Contents
1. [Installation](#installation)
2. [Inputs](#inputs)
3. [Functions](#functions)
4. [Usage](#usage)
5. [Contact](#contact)
## Installation
1. To install the EA, copy the .mq5 file into the `Experts` directory of your MetaTrader 5 installation.
2. Open the MT5 terminal and navigate to the `Navigator` pane.
3. Right-click on the `Expert Advisors` section and select `Refresh` to see the newly added EA.
4. Drag and drop the EA onto the chart of the desired trading instrument.
## Inputs
The following input parameters can be configured by the user:
- **`LotSize`**: The size of the lot to be traded (default is `0.1`).
- **`StopLoss`**: The stop loss value in points (default is `100`).
- **`TakeProfit`**: The take profit value in points (default is `100`).
- **`TrailingStop`**: The trailing stop value in points (default is `50`).
- **`MagicNumber`**: A unique identifier for the EA's orders (default is `1`).
## Functions
### Initialization
The `OnInit()` function initializes the EA. It checks if the input parameters are valid through the `InitParameters()` function. If initialization is successful, it returns `INIT_SUCCEEDED`; otherwise, it returns `INIT_FAILED`.
```mql5
int OnInit()
{
if(!InitParameters())
{
Comment(Initialization failed.);
return(INIT_FAILED);
}
Comment(Initialization successful.);
return(INIT_SUCCEEDED);
}
```
### Deinitialization
The `OnDeinit(const int reason)` function is called when the EA is removed from the chart or the terminal is closed. It prints a message indicating the deinitialization of the EA.
```mql5
void OnDeinit(const int reason)
{
Print(Deinitializing EA);
}
```
### Main Logic
The `OnTick()` function is the core of the EA. It runs on every new tick and performs the following actions:
1. Checks for new trading signals using `CheckForNewSignal()`.
2. Opens a new trade if a signal is found using `OpenTrade()`.
3. Manages existing open positions using `ManageOpenPositions()`.
```mql5
void OnTick()
{
if(CheckForNewSignal())
{
OpenTrade();
}
ManageOpenPositions();
}
```
### Parameter Validation
The `InitParameters()` function validates the input parameters to ensure they are within acceptable ranges.
```mql5
bool InitParameters()
{
if(LotSize <= 0)
{
Print(Invalid Lot Size);
return(false);
}
if(StopLoss < 0 || TakeProfit < 0)
{
Print(Invalid Stop Loss or Take Profit);
return(false);
}
return(true);
}
```
### Check for New Signal
The `CheckForNewSignal()` function is a stub for custom signal logic. It currently always returns false and should be modified with actual signal logic.
```mql5
bool CheckForNewSignal()
{
return(false);
}
```
### Open Trade
The `OpenTrade()` function executes a buy trade when a new signal is detected. It uses the `CTrade` class to manage orders.
```mql5
void OpenTrade()
{
double price = NormalizeDouble(iClose(_Symbol, PERIOD_CURRENT, 0), _Digits);
double sl = price - StopLoss * _Point;
double tp = price + TakeProfit * _Point;
if(trade.Buy(LotSize, _Symbol, price, sl, tp, Buy Order))
{
Print(Buy order placed successfully);
}
else
{
Print(Failed to place buy order);
}
}
```
### Manage Open Positions
The `ManageOpenPositions()` function manages open trades, primarily by adjusting the trailing stop to protect profits.
```mql5
void ManageOpenPositions()
{
for(int i=OrdersTotal()-1; i>=0; i--)
{
if(OrderSelect(i, SELECT_BY_POS, MODE_TRADES))
{
if(OrderType() == OP_BUY && OrderMagicNumber() == MagicNumber)
{
double newStopLoss = OrderStopLoss() + TrailingStop * _Point;
if(OrderOpenPrice() + TrailingStop * _Point < iClose(_Symbol, PERIOD_CURRENT, 0) && newStopLoss < iClose(_Symbol, PERIOD_CURRENT, 0))
{
if(trade.PositionModify(OrderTicket(), newStopLoss, OrderTakeProfit()))
{
Print(Trailing stop adjusted);
}
else
{
Print(Failed to adjust trailing stop);
}
}
}
}
}
}
```
## Usage
1. Configure the input parameters to match your trading strategy.
2. Apply the EA to the chart.
3. Monitor the EA's performance, keeping an eye on the trading signals, open trades, and trailing stop adjustments.
For a detailed review and more information, please visit our [Forex Robot Review: Rabbit Scalper Pro](https://forexroboteasy.com/forex-robot-review/rabbit-scalper-pro-review-is-this-forex-trading-robot-worth-your-investment/) page.
## Contact
For further assistance or inquiries, please contact us at:
- **Email**: [email protected]
- **Website**: [Your Website](https://www.yourwebsite.com)
## Overview
This document provides an explanation of the [title] Expert Advisor (EA) designed for MetaTrader 5 (MT5). This EA is a trading robot that automates the process of opening and managing trades in the forex market using the MetaTrader 5 platform.
## Table of Contents
1. [Installation](#installation)
2. [Inputs](#inputs)
3. [Functions](#functions)
4. [Usage](#usage)
5. [Contact](#contact)
## Installation
1. To install the EA, copy the .mq5 file into the `Experts` directory of your MetaTrader 5 installation.
2. Open the MT5 terminal and navigate to the `Navigator` pane.
3. Right-click on the `Expert Advisors` section and select `Refresh` to see the newly added EA.
4. Drag and drop the EA onto the chart of the desired trading instrument.
## Inputs
The following input parameters can be configured by the user:
- **`LotSize`**: The size of the lot to be traded (default is `0.1`).
- **`StopLoss`**: The stop loss value in points (default is `100`).
- **`TakeProfit`**: The take profit value in points (default is `100`).
- **`TrailingStop`**: The trailing stop value in points (default is `50`).
- **`MagicNumber`**: A unique identifier for the EA's orders (default is `1`).
## Functions
### Initialization
The `OnInit()` function initializes the EA. It checks if the input parameters are valid through the `InitParameters()` function. If initialization is successful, it returns `INIT_SUCCEEDED`; otherwise, it returns `INIT_FAILED`.
```mql5
int OnInit()
{
if(!InitParameters())
{
Comment(Initialization failed.);
return(INIT_FAILED);
}
Comment(Initialization successful.);
return(INIT_SUCCEEDED);
}
```
### Deinitialization
The `OnDeinit(const int reason)` function is called when the EA is removed from the chart or the terminal is closed. It prints a message indicating the deinitialization of the EA.
```mql5
void OnDeinit(const int reason)
{
Print(Deinitializing EA);
}
```
### Main Logic
The `OnTick()` function is the core of the EA. It runs on every new tick and performs the following actions:
1. Checks for new trading signals using `CheckForNewSignal()`.
2. Opens a new trade if a signal is found using `OpenTrade()`.
3. Manages existing open positions using `ManageOpenPositions()`.
```mql5
void OnTick()
{
if(CheckForNewSignal())
{
OpenTrade();
}
ManageOpenPositions();
}
```
### Parameter Validation
The `InitParameters()` function validates the input parameters to ensure they are within acceptable ranges.
```mql5
bool InitParameters()
{
if(LotSize <= 0)
{
Print(Invalid Lot Size);
return(false);
}
if(StopLoss < 0 || TakeProfit < 0)
{
Print(Invalid Stop Loss or Take Profit);
return(false);
}
return(true);
}
```
### Check for New Signal
The `CheckForNewSignal()` function is a stub for custom signal logic. It currently always returns false and should be modified with actual signal logic.
```mql5
bool CheckForNewSignal()
{
return(false);
}
```
### Open Trade
The `OpenTrade()` function executes a buy trade when a new signal is detected. It uses the `CTrade` class to manage orders.
```mql5
void OpenTrade()
{
double price = NormalizeDouble(iClose(_Symbol, PERIOD_CURRENT, 0), _Digits);
double sl = price - StopLoss * _Point;
double tp = price + TakeProfit * _Point;
if(trade.Buy(LotSize, _Symbol, price, sl, tp, Buy Order))
{
Print(Buy order placed successfully);
}
else
{
Print(Failed to place buy order);
}
}
```
### Manage Open Positions
The `ManageOpenPositions()` function manages open trades, primarily by adjusting the trailing stop to protect profits.
```mql5
void ManageOpenPositions()
{
for(int i=OrdersTotal()-1; i>=0; i--)
{
if(OrderSelect(i, SELECT_BY_POS, MODE_TRADES))
{
if(OrderType() == OP_BUY && OrderMagicNumber() == MagicNumber)
{
double newStopLoss = OrderStopLoss() + TrailingStop * _Point;
if(OrderOpenPrice() + TrailingStop * _Point < iClose(_Symbol, PERIOD_CURRENT, 0) && newStopLoss < iClose(_Symbol, PERIOD_CURRENT, 0))
{
if(trade.PositionModify(OrderTicket(), newStopLoss, OrderTakeProfit()))
{
Print(Trailing stop adjusted);
}
else
{
Print(Failed to adjust trailing stop);
}
}
}
}
}
}
```
## Usage
1. Configure the input parameters to match your trading strategy.
2. Apply the EA to the chart.
3. Monitor the EA's performance, keeping an eye on the trading signals, open trades, and trailing stop adjustments.
For a detailed review and more information, please visit our [Forex Robot Review: Rabbit Scalper Pro](https://forexroboteasy.com/forex-robot-review/rabbit-scalper-pro-review-is-this-forex-trading-robot-worth-your-investment/) page.
## Contact
For further assistance or inquiries, please contact us at:
- **Email**: [email protected]
- **Website**: [Your Website](https://www.yourwebsite.com)