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Vates is a multicurrency trend expert advisor for MetaTrader 5. It reads trend direction and overbought or oversold conditions, opens buy or sell positions on a signal, and closes them on a reverse signal, stop loss or trailing stop.
Get one message the moment it launches, with its price.
Vates is a multicurrency expert advisor for MetaTrader 5 that follows the market trend. It looks for the direction of the trend together with overbought and oversold conditions, and opens a buy or sell position when its signal appears.
The EA calculates a signal from the price type and smoothing filter you select, combined with three numeric factors (X, Y and Z) that shape how it reacts. When a buy or sell signal appears, it opens a position. That position is normally closed by an opposite signal, by the stop loss, or by the trailing stop if you have switched it on.
Vates can add orders in the direction of an open position, using the same lot size as the first one. An additional order is placed only when two conditions are met: a new signal in the same direction appears, and the floating drawdown of the open position has passed the level set in Drawdown Percent. The number of extra orders is limited by the Add Order input. Setting it to 0 turns this feature off. Adding to a losing position raises exposure, so choose this value with care.
After a power cut, a lost connection, a terminal restart or a change of inputs, the EA is designed to check the open positions on every symbol it trades, including any additional orders, and to recalculate orders and drawdown correctly.
The EA is multicurrency and can be attached to different symbols. It is not tied to one timeframe, and it can be used with fixed or variable lot sizes, on 4-digit and 5-digit quotes, and with brokers that use different order filling types. Which symbols and timeframes suit it best is something you need to establish yourself through testing, because behaviour varies between instruments and brokers.
| Input | Purpose |
|---|---|
| Magic | Unique number that identifies the EA's positions |
| Max. Spread | Largest spread, in points, at which a position may be opened |
| Slippage | Allowed slippage, in points, for market orders |
| Lot, Fixed Lot, Lot Percent | Choose a fixed lot or a lot based on a percentage of balance (balance x percent / 100000) |
| Mode | Closed bar or current value for opening and closing |
| Applied Price, Filter | Price type (seven options) and smoothing type (four options) |
| X-Factor, Y-Factor, Z-Factor | Numeric values that define the signal; can be optimised in the Strategy Tester |
| Add Order, Drawdown Percent | Number of additional orders and the drawdown level that allows them |
| Stop Loss | Stop loss in points; 0 disables it |
| Use Trailing, Trailing Start, Trailing Stop | Trailing stop switch, activation profit and trailing distance in points |
| Order Filling Type | Filling mode, to avoid invalid filling type errors |
Default values are not listed here, so check them in the input tab after loading the EA. Point-based inputs are given for 4-digit quotes and are adjusted automatically on 5-digit symbols.
Run the Strategy Tester in more than one mode, for example normal and with a delay, and compare the results with a demo account before using real money. Optimising the three factors on a limited period can produce settings that fit past data only, so check them on a separate period as well.
Trading carries risk, and past results do not predict future ones. Averaging into a losing position with additional orders can increase losses. Use a demo account first and only risk money you can afford to lose.
| Product type | Expert Advisor |
|---|---|
| Platform | MetaTrader 5 |
| Strategy focus | Signals, Trend |
| Delivery | Download from your account after purchase |
| License key | Not needed |
| Status | Launching soon |
| Category | Expert advisor (automated trading) |
| Strategy | Trend following with overbought and oversold signals |
| Markets | Multicurrency; run it on the symbols you choose |
| Timeframes | Any; test and optimise to find what suits your symbol |
| Lot sizing | Fixed lot or percentage of balance |
| Position management | Stop loss, trailing stop, reverse-signal exit, optional add-on orders |
| Requirements | Algo trading enabled; broker order filling type must match the setting |
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No. This product is built for MetaTrader 5 and will not run on MetaTrader 4. Make sure your broker offers an MT5 account before you buy.
Copy the expert advisor file into the Experts folder of your MT5 data directory (File, Open Data Folder, MQL5, Experts), restart the terminal or refresh the Navigator, then drag Vates onto a chart. Allow algorithmic trading in the terminal and in the EA properties.
Brokers support different order filling modes. Open the Order Filling Type input and choose another option until the error stops appearing in the Experts log. Your broker's contract specification shows which modes are allowed.
The point-based inputs such as Max. Spread, Slippage, Stop Loss, Trailing Start and Trailing Stop are described as 4-digit values and are adjusted automatically on 5-digit quotes, so you normally do not need to convert them.
There is no single set that suits every symbol or broker. Test on a demo account and in the Strategy Tester first, check the default inputs, and optimise the X, Y and Z factors for the symbol and timeframe you plan to use. Keep lot size and drawdown limits within what your account can tolerate.
The EA is designed to re-check open positions on all traded symbols after a restart, connection loss or parameter change, and to recalculate orders and drawdown. You should still monitor the account and confirm that positions look as expected.
Vates
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