The Chart Mechanics Trend Expert Advisor MT5
- Experts
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Daniel Reynolds
MQL4 and MQL5 developer building Expert Advisors, indicators, trade panels and utilities for MetaTrader 4 and 5.
What I build: - Version: 1.1
- Activations: 10
TCM Trend EA is a trend-following Expert Advisor for MetaTrader 5, built for the major currency pairs and gold (XAUUSD). Every trade is opened with a stop-loss and a take-profit already set, and the position size is worked out from the risk you choose. It holds one trade at a time per chart. How it works The EA waits for a trend to be confirmed on closed candles and on a higher timeframe before it looks for an entry. It then sizes the trade from your risk setting, places the stop-loss and take-profit straight away, and manages the trade until it closes. Risk controls - Risk per trade as a % of equity (0.01% to 5%), or a fixed lot size - Daily loss limit: no new trades for the rest of the day once it is reached (default 3%) - Trading hours set in UK time and converted to your broker's clock automatically, including daylight saving - Friday cut-off for new trades, and an optional close before the weekend - Optional maximum spread filter - Checks free margin, volume limits and the broker's stop levels before every order Trade management (all optional, off by default) - Move the stop to break-even at a chosen profit, locking in a small amount to cover costs - Trailing stop based on market volatility - Close part of the trade at a chosen profit Symbols and timeframes - Major currency pairs (EURUSD, GBPUSD, USDJPY, USDCHF, USDCAD, AUDUSD, NZDUSD and their crosses): H1 recommended. Default hours 07:00 to 20:00 UK, no new trades on Friday from 18:00 UK. - Gold (XAUUSD or GOLD): M15 recommended. Default hours 08:00 to 20:00 UK, no new trades on Friday from 16:00 UK. The EA picks the right defaults from the chart's symbol, and works with broker suffixes such as EURUSD.r or XAUUSDm. Status panel The chart shows the trend filter, trading hours, today's result against the daily limit, and what the EA is doing or waiting for. Inputs Position size method, Risk per trade (%), Fixed lot size, Daily loss limit (%), Use trading hours, Start hour (UK), End hour (UK), Friday cut-off hour (UK), Close before the weekend, Weekend close hour (UK), Maximum spread (points), Break-even, Trailing stop, Partial close, Show status panel. The hour inputs are set to -1 (automatic) by default. Recommendations - Test on a demo account first and use a risk you are comfortable losing. - Run it on one chart per symbol, on a VPS or a computer that stays on. - A low-spread account is recommended, especially for gold. Tools and education only. Not financial advice. Trading involves risk, and past behaviour in the Strategy Tester does not show future results.
