FRZ Indicator Automater MT5 Version
Important: Please set "Enable Indicator Monitoring" as "true" under settings before using this EA. Please try DEMO before you buy.
This is not an expert adviser in itself. It does not make trades by itself; it will only make trades based on the indicator that you use to generate signals. It is designed for currency pairs only and others may not work.
Please test with the DEMO before you buy. When you are backtesting, make sure you have the indicator running during the backtest.
FRZ Indicator Automater is an expert adviser that can convert almost any indicator into an expert adviser. It does it by making orders/trades based on the indicator buffers and/or objects created by the indicator on the chart. It can open trades based on the signals provided by the indicator and trades are closed on the opposite signal (and an opposite trade is activated).
Setting up video: https://youtu.be/WWG94nVcPA0 (This is for the older version and it may not cover all aspects of the new version)
Readme file: https://c.mql5.com/6/844/Readme_First_MT5_MQL.zip
NB: When you use buffers, the EA will only consider the default settings of the indicator. You can only change the default settings if you have the source file in mq5 format.
Automation based on the indicator buffers
If your indicator has indicator buffers, then you can use this option. All you have to do is to rename your indicator to “myindicator” and then map the right buffer numbers to buy and sell signals. Also, make sure the indicator placed within the MT5 Indicators folder (not in subfolders).There are 03 types of indicators you can automate with buffers
Type 1 – Indicators generating arrows or similar signs such as thumb up/down, dots, etc. for buying and selling.
Type 2 – Indicators with one or two lines that change colors as per up or down trend.
Type 3 – Indicators with a two lines where buy or sell is determined by the cross over.
Automation based on objects created by the indicator
- has a time parameter under properties,
- has a common prefix in the name of the objects generated, and
- has different colors for buy and sell signals
The objects can include arrows, triangles, buttons, thumbs, etc. You can use these objects to make trades/orders with this EA. If you are only using object-based trading, there is no need to rename your indicator as mentioned before. The objects are captured based on their name prefix, color and time of creation.
The EA will make trades/orders just as the indicator buffer or object appears. So if your indicator repaints, you might see trades/orders made while no indicator buffer or object visible or buffer or object is painted at a different place.
NB: We recommend ICMarkets as a broker. If you like, you may use our Introducing Broker (IB) code "23649" in ICMarkets registration or transferring existing accounts to receive a life time discounts on broker commissions and spreads.
- For Raw Spread accounts, ICMarkets normal commission rate is $7 per lot but if you are under our IB code, you are charged only $5.5 per lot forever. You save $1.5 per lot forever (And spread will remain the same as before).
- For Standard Accounts, you get a 0.3 pips discount on the normal spread on each trade forever.
If you are already an ICMarkets customer, you can simply ask ICMarkets to transfer the existing account under our IB code. This discount will be automatically given to you immediately after you have registered or transferred your account under our IB code. There is no catch here. Your other terms and conditions remain the same as before. You can get out of our IB any time by informing ICMarkets.
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