Trading Robots for MetaTrader 5
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MetaTrader 5
Top Rated Products MT5
Overview
Hourly Trend Follower EA
Overview
The Hourly Trend Follower EA is an automated trading system that analyzes market trends and places trades based on configurable parameters. The system is designed to work with various trading instruments and includes customizable risk management settings.
Features
Trend Analysis
- Market data analysis using historical price information
- Configurable trend detection parameters
- Multiple timeframe support
Trade Management
- Automated trade execution based on trend signals
- One trade per day maximum for conservative approach
- Configurable lot size settings
- Stop loss and take profit management
- Spread cost consideration in calculations
Risk Management
- Fixed lot size option for consistent position sizing
- Customizable stop loss and take profit levels
- Default settings: 15 USD take profit, 5 USD stop loss
- Spread cost adjustment: 18 USD default
User Interface
- Simple parameter configuration
- Debug mode for trade monitoring
- Clear trade identification through comments
- Straightforward setup process
Input Parameters
| Parameter | Default | Description |
|---|---|---|
| LotSize | 0.05 | Fixed position size |
| TPAmount | 15.0 | Take profit amount in USD |
| SLAmount | 5.0 | Stop loss amount in USD |
| SpreadCost | 18.0 | Spread cost per lot |
| TradingMinute | 45 | Trading minute (0-59) |
| DebugMode | true | Enable detailed logging |
Technical Specifications
System Requirements
- Platform: MetaTrader 5
- Compatible instruments: Multiple currency pairs and commodities
- Timeframe support: All timeframes (uses M1 data internally)
- Account types: Hedge and netting accounts supported
Implementation Details
- Trend analysis based on historical price data
- Daily trading frequency with one trade maximum per day
- Configurable entry timing mechanism
- Automatic position management
- Built-in spread cost calculations
- Error handling and logging capabilities
- Tested on XAUUSD 1M timeframe
Usage Guidelines
Setup Process
- Install the EA on MetaTrader 5 platform
- Configure input parameters according to trading preferences
- Test functionality in demo environment
- Monitor EA performance and adjust settings as needed
Recommended Practices
- Start with demo account testing
- Adjust lot size based on account balance
- Monitor market conditions during EA operation
- Consider using virtual private server for continuous operation
Risk Considerations
Trading in financial markets involves risk of loss. The EA is designed to assist with trade execution based on programmed logic, but market conditions can change rapidly. Users should understand the trading strategy and monitor EA performance regularly.
Past backtesting results do not indicate future trading performance. All trading decisions should be made with proper risk management and within individual risk tolerance levels.
Support Information
Documentation is provided with the product. Updates may be released periodically to address technical issues or add functionality. Users can contact support for technical assistance related to EA installation and configuration.
