Introduction
The Smart Universal Expert Adviser MT5 is a trading robot that claims to integrate seamlessly with any custom indicator providing buy and sell signals. Developed by Issam Kassas and boasting a rating of 4, this EA has generated mixed reviews from users. Some praise its flexibility and support, while others criticize its performance and effectiveness. Let's dive into how to install, configure, and potentially improve this trading robot.Installation and Setup
Installing the Smart Universal Expert Adviser MT5 is straightforward, but configuring it for optimal performance requires a bit more effort. Follow these steps:- Download the EA from the MQL5 marketplace.
- Open MetaTrader 5 and navigate to the Navigator panel.
- Drag and drop the Smart Universal Expert Adviser MT5 onto your desired chart.
- In the settings panel, input the name of your custom indicator and set the period.
- Configure the Stop Loss (SL), Take Profit (TP), Trailing Stop, and Breakeven levels according to your risk management strategy.
- Enable the EA and let it run.
Remember, the EA's performance heavily depends on the quality of the custom indicators you use. Don't expect miracles if your indicators are subpar.
Experience Using the Robot
Using the Smart Universal Expert Adviser MT5 has been a mixed bag. On one hand, it offers a high degree of customization, allowing you to integrate various indicators and tailor the settings to your trading style. On the other hand, user reviews suggest that its performance can be inconsistent. Jason Attia Guindi was impressed with the support and tutorials, while ade nike faced significant losses, turning a $150,000 demo account into a $78,000 deficit. Moi11 also criticized the EA for not functioning as expected and poor support.In my experience, the EA's adaptability is both its strength and its weakness. It requires careful tuning and high-quality indicators to perform well.
Tips for Improvement
To get the most out of the Smart Universal Expert Adviser MT5, consider the following tips:- Thorough Testing: Always test the EA on a demo account before going live. This helps you understand its behavior and fine-tune the settings.
- Quality Indicators: Use reliable and well-tested custom indicators. The EA's performance is only as good as the signals it receives.
- Risk Management: Set conservative SL and TP levels. Utilize the trailing stop and breakeven functions to protect your profits.
- Continuous Monitoring: Don't leave the EA unattended for long periods. Market conditions can change rapidly, and manual intervention may be necessary.
Source Code of Smart Universal Expert Adviser MT5
We don't have access to the original source code of the Smart Universal Expert Adviser MT5 sold on MQL5. However, based on its description, we have created a sample code that mimics its functionality. This code is available on our website. Note that this is not the original code but a version developed by the EASY Trading Team.
Code:
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