Settings
Settings Arrangement for version 4.14 or later updates:
Coming soon
Below are setting arrangement and explanation for versions 4.12 or earlier:
Though the EA comes with ready to use template with settings, the details below may help you understand how to change settings on your own. Trade settings should only performed after extensive back testing and research is done on your broker Mt4 platform.
Adjusting hour shift
There are hundreds of options and parameters in the Forexbody EA, the most important parameter that should not be missed in any setup is the HourShift. This should adjust EA time to make it GMT for non GMT Mt4 brokers. HourShift setting has been removed since version 411 and the EA calculates and figures out automatically, Restart of your Mt4 is required after each market open is required ( once per week ) and your local computer must have correct time set and correct time zone selected. When done correctly the EA will display the correct GMT time on the bottom left corner of your chart during market open hours.
The MinuteShift is also removed and automated as long as your computer clock is set to correct time even if your broker server time is not correct..
Trade mode is also removed in later version and each module has its own on / off selection, ECN broker setting has also been removed and all other important functions are fully automated.
Loss pool closes parts of or entire trades that have been in losing zone for a certain amount of time defined in hours in the setting. We have used 3 weeks period previously but recent market should that trends are lasting even longer. current setting is 1500 hours.
Auto Close
Slippage amount tell the EA when to stop attempting to open a trade or close one in fast moving market if initial price no longer available. 3 slippage means the EA is allowed to open trades within 3 pips from original quote.
EA Global settings
MaxTrade is the maximum number per direction allowed, a setting of 3 means the EA can only have 3 buy and 3 sell trades open for a total of 6 trades., the lower the number the lower the risk and lower the returns, the higher the higher the risks and the returns, too low numbers may result with no trading at certain times.
Max spread tells the EA not to trade if higher than allowed spread is detected.
TradeOnHolidays: The important future bank holidays are coded in the EA for the next 2 years, and if trading on holidays is not allowed then the EA will not trade on these days.
UseBackTestSolo: Due to the many options available this feature enables market researchers to to disable all trades but 1 during back testing. This option must be set to False for normal trading. but in back testing it must be combined with BacktestingSolo option located under every trade in order to be used.
UseTrailingStop: This feature is used extensively with most trades and should be enabled.
UseProfitPool: Is the feature that allows the EA to close parts of profitable trades as set per each trade profit pool option.
EA global settings
TradeAge Compensation is method for the EA to change profit pool settings for those trades that do not win after certain days. The days number is controlled by the DaysTrigger for that option, So if DayTrigger is 3 and this option is enabled, and the AgePips is 10, for example, A losing trade that was originally set to make 40 pips in profit to be partially closed, would now require only 10 pips to be closed after 3 days have passed while in the losing zone. Same thing can be done to increase the pool settings instead of decreasing, long time research is the only way to find out best settings for this feature.
AutoClose
Auto Close allows closing of all or some trades based on time. this not used in the settings we provide loss pool use instead.
Candle Stick Options
This is a trade limiting option, It results on less trading but more selective. The nature of the EA is high activity, but the market is risky and this option reduces the number of trades the EA will do. by waiting for bullish pattern before Buy trade and bearish pattern before sell trades the EA will end up with much less trading but higher profitability. Each pattern enabled will result in further reduction in trading activity. Disabling this option as a whole will result on all trades will be places and immediate trading if trade mode is 1 or 2. The patterns are well known throughout the Forex community.
A normal trade module
Here is one of the trade modules that user can program. There are 9 trade modules for each weekday and 3 for Sunday.
Each trade has it own settings, like its own assignable TP, SL, trailing stop, Profit pool settings, Riskmax settings, whether fixed or changing, and weather to disable all other trades during back testing option. Each of these trades here will be repeated every week at the same time, and will happen unless max trade option does not allow or WaitforCandlstickPattern is enabled.
Scalping Module
The scalping module does a lot of unpredicted trading based on volume patterns. The user can control many aspects of the behavior and can provide hours when not to trade with this module, Also the module trading frequency is affected by its own settings and the WaitforCandlStick option mentioned earlier.
News Trading Module
The news trading module also has its own trade settings and trade delimiter. it is also affected by the WaitforCandleStick options discussed earlier.
News Trading Module settings
News trading is riskier than all other modules so a manual RiskMax of 0.02 is used and AutoRiskmax is disabled by default, also another condition is in place, according to settings here the last 10 volume bars must be twice bigger than the previous 10, and a 20 pip candlestick must occur before the trade can happen and it is subject to all other settings of the News trading module and the global settings of the EA. sell and buy trades can have each its own settings. If delay time is entered then the delay time must pass before the trade is taken.
In back testing, you can set BacktestSolo to true to disable all other modules during the backtest and see the news trading module by itself, very helpful if you want to create a news strategy for your broker.
Mt4 may stop responding when attempting to backtest for the first time using this EA. if that happens all you have to do is close Mt4 from the X button and restart it. load the settings to the tester again and select your test period and time frame and try again. This issue was not experienced more than once at any Mt4 platform.
i have found little useful information on how to run ea on backtests i can get no results no trades to execute and i’ve manually set parameters to many various configurations. it seems that this is a martingale ea i have manually set sl and tp but they don’t seem to initialize and the default settings just trade seemingly indiscriminately. i am interested in a profitable ea but without any comprehensive guide and explanation i am simply at a loss. or i am just too stupid to use this software? i have closed trades manually after reaching 100 pips or so and have added @ 2000 in gains but floating losses are hovering around 10000$ without any execution to offset it has made sell executions then when against that execution it places a buy way later when price has risen to where there will be a pullback to lose more pips. i have left settings to default in most instruments and it seems that this ea is talented at depleting my account. i would like if possible to get more perspective on how to manage this expert. if it is a profitable ea then if it hangs on to huge losses waiting for a turnaround that isn’t responsible MM. would someone be so kind as to explain a little of what is going on and what parameters need to be set to at least run backtests? i am at least looking for an advisor that outperforms the free ones that i still can’t get enough information on to optimize…could someone get back to me and point me in the right direction would be appreciated…otherwise i will have to go back to the laborious task of understanding the coding in the advisors i have already which are invariably flawed or mediocre.
This EA is one of the easiest in the world to backtest, I will point you a website that shows you how to get started: Metatrader 4 Back test, First time you do back test you may experience Mt4 stopping to respond, you need to to restart Mt4 and after that you should never have any issues on that platform in regard to backtesting.
In regard to the other part of your comment, this EA never leaves trades hanging as you mentioned, If you loaded the EA on your mt4 chart by loading the template wgich will load the recommended settings, then most trades will close partially or entirely after 40 pips in profit according to settings, and what you describe as martingale EA is not totally true. This EA can be used for countless strategies, Our current template settings 4.04 does not use SL anywhere but it uses what we can describe as the rubber band strategy.
Where the account is the rubber band and the EA is capable of withstanding huge market moves against its trades in one direction while many profitable trades continue to be created and closed in the trend direction. First few weeks you may experience huge increase to balance and some decrease to equity, then when market reverses, the equity returns and same thing happen in the other direction. eventually you will be in serious profit unless the market makes a too high move against you in a single hour, without giving chance for new trades to be opened. The tabs in this site provide adequate information on how to setup and use, and the hundreds of available options in settings are for research of market and back testing. To get started on a demo account all you have to do is use the template provided, where all settings are ready. The the only thing you have to change is the HourShift parameter if your broker is not a 0 gmt broker. You should always demo for few weeks before live trading. Forex is and continues to be the most elusive market and you need to approach wisely. This EA uses a risk mechanism that the larger the account, the lower the riskmax that will be used. so smaller accounts are at higher risk, check the Risks tab on this site for details.
Hello,
All trades are opened without a stop loss is there a setting to change that for all trades opened by the EA.
Thank you
Every trade in the normal module, scalping module or News module has a field to enter Stop Loss, never assume that entering random settings will work, you need to do a lot of back and forward testing and that is why we permit you to use EA on unlimited accounts on up to 3 computers. SL is not what you think, in most cases it works against the trader by closing would be winner trades as losers. This is Forex not stock market.
I have been trading in the Forex market for over a year. I learned early on to always use a stop. What is the name of the variables that need setting in order to apply a stop.
I downloaded this software yesterday and if it were not for the hedge trades it looks to be doing a fine job. If not a stop then what is your suggestion to limit the losses on the opened counter trades?
Maybe you need to use a stop if are using other strategies, If you say you have been trading for a year you sure have too little experience to brag about in the Forex market, but with the settings provided it is much more rewarding not to use a stop loss, Anyway every trade or module in the EA has SL variables and is the first variable in each trade or module settings. Do not go live with any changes you make to settings unless you back / Forward test thoroughly.
Hi there,
Just have a question about the BrokerECN parameter. I’m using GoMarkets which is an STP (Straight through processing) broker. Should I set BrokerEcn To True?
Thankyou so much,
Tony
Please check with your broker if your account requires ECN order type, if ECN you need to enable ECN broker option.
The ECN parameter is fully automated from version 4.06 and on and so far we did not have any problems with any brokers, You will no longer need to worry about this option and will no longer find this parameter in the settings window, It works internally and automatically.
Hi there,
Is the lot size calculated automatically? what if you have more than one currency pair trading, would it still adjust the lot sizes based upon more currency pairs trading?
Thankyou so much again,
Tony
The EA is designed for one currency pair and the provided template is designed for EURUSD
Hello again,
Do you offer a user manual as well?
Thanks,
Currently all up to date information about this EA is on this website, please check the tabs above the pages.
Plz tell me how to increase lot size?
Every trade has Riskmax settings
If set to auto then the lot will decrease in proportion to account size as the account grows.
If auto Riskmax is disabled then the lot will be calculated according to your input and will be constant in its relation to account size, there you can increase lot size.
I read the above notes for setting. But I didn’t understand how to set lot size manually. So please explain me the same. I think that will useful for everybody..
Thanks
Every trade that has autoRiskmax enabled can be disabled for this particular parameter.
right after that parameter there is an input filed for manual riskmax, there you can input your choice. then the calculation of lot size will not be affected by account size.
if you are looking for fixed lot size, we do not use that at all. The manual riskmax is a calculation factor not a fixed lot size. please refer to settings tab above for more understanding.
Hello,
I have no doubt that the ea is successful, however I have looked at the parameters of the ea (after download) and there seems to be great money management systems but I cannot see to find the actual trading system, i.e. what are the actual triggers for a trade? (e.g. MA-crossever, stoch, etc) you say there are 3 types of trading, normal, scalping and news, what are the trading systems in all 3?
Many thanks
There are 3 modules at this time in EA, Time which is triggered by time, yu can program every trade per weekday
Scalping based on a sophisticated volume mechanism and you can edit many parameters
News based on sudden big changes and you can set parameters
HI,
i try also this system in demo account, but i loss 50 % ,
something is wrong here …
System is very complicate , because here ist lot offf parameter and this is very heavy …
Where can i find all descriptions for lot of parameter in this system ?
Is it possible configurate this ?
thanks.
PAvol
We provide ready to go configuration for EIRUSD
all you have to do is set the HourShift option ( gmt )
check the pages on site for more info
Please confirm the time displayed on the chart, “EA time is …” is GMT (i.e. Broker time =/- “HoursShift”.
Cheers
EA must display exact GMT time on chart
currently user must edit settings HourShift to make this correct
Broker time + Hourshift = GMT
In our 4.09 version User may not have to edit setting of hourshift, we are automating this as well
Can you show me 5-10 years backtesting .
Thanks,,
That would be impossible to do
first for inavilability of accurate data
and the length of time and computing power needed for such long period
and inavilability of setting for those ancient times
I am testing the AE. The normal template (not the basic one) keeps selling and buying de eurusd at the same time thus one order is growing while the other one is loosing money. Is that the way it should be? Or there is something wrong?
floating orders can lose large amounts of money because they are large orders if you consider the leverage used but losses disappear when those orders win , which in turn other losing orders will be in place and so on.
In real live trading an account can be saved with a deposit if market takes a long time to come back
currently the EA is set to hold losing positions to a max of 1500 hours
Hello, I’m new and after one week testing forward and doing backtest I have many questions but I will concentrate in the most important.
First to say that I would like this bot to succeed because there is a huge work behind. To perform a backtest it takes more than 8 hours to run it for 4 months.
What I see backtesting from january 2011 with the default settings of the template is that the robot is losing money as several trades are finally closed with big losses as there is no stop loss. I thought at the begining that the oposite pending order would act as a stop loss but it does not as it closes even if the main is still open.
I repeat that I would like the bot to succeed but at the moment I think that it may have big drawdown in the future as leaving trades withut loss can blow the account some day. I would beg you a fast response as I would like to buy yhe bot if it works but if it does not… I will be very sorry.
Regards.
Yes depending how pending order module is set the hedge must close otherwise we will continue to remain in the same place no matter where the market goes. The hedge protection is temporary as well and there is absolutely no way to stay protected in Forex there are allways times of being at risk otherwise there would be no chance to make money either. We do not say that our provided template is the best anyone can come up with for EIRUSD but there are no roof how trading with this EA can be improved
We provided the basic template for those who want faster backtestinmg and thus research when interested in time based trading. and even with thst backtesting still takes a very long time
You can speed up back testing with the Normal template if you use a powerful fast computer. disable trailing stop on all trades by using 100 in CloseWhatPercentage for all trades nay be you can come up with good settings that you can fine tune later by adding trailing stop and partial close
Dear Sir,
I tried your EA with my micro account at TRADINGPOINT, but I got this message at Journal TAB :
2011.10.30 18:58:18 ’21125′: order buy 0.01 EURUSD opening at 0.00000 sl: 0.00000 tp: 0.00000 failed [Trade is disabled]
How can I resolve it?
Thanks for your help
Best regards
Binh
It appears you are using on a demo account that has trading disabled, even manual trading on that account is not allowed you can only get data feed
try another broker
Sir,
Kindly clear few query..
1. while depositing / withdrawal what precaution to be taken….
or will EA take new balance automaticaly.
then what abt open trades at that time.
2: I m running EA on VPS.
if terminal get restart than what will happen for the open trades.
will it take the control for open trades ?
3. Can I run this EA with other EAs on same mt4 account.
4..can u show the back test for few years,,,as it is taking long time to test it.
or if u could send me i will be glad…
5 How much monthly returns we can aspect from ur EA.
6 What is the approx DRAWDOWN % for this EA ( from ur back test).
Please read all site tabs before submitting too many questions
Even though the EA will take your new equity into account after deposit or withdrawal you should be careful when depositing or withdrawing because the newer trades will be off balance. It is a good idea that you do not deposit or withdraw more than 20% of your current equity.
Nothing will happen to your trades if you restart your platform as long as you do not stay offline for a long time. If you get disconnected for a long time then the effect on your open trade depends on how far the market acted while you were offline.
Updating from one version to newer one also will not affect your trades unless major changes are made to settings of the settings template. Each module of the EA is responsible for its own trades, once a module is turned off its trades will continue to float until closed .
You can not run another EA with this EA, and you can not run on 2 charts on same account.
Backtesting is only concerned with recent year, no set of settings that works well for this year would work for ancient times. The market has patterns and the broker have rules that change.
Returns and drawdowns: This varies depending on market conditions, broker, and settings.
Hi,
I m running ur EA on my live account from two days.
My starting balance & Equity : 300
balance increased to : 425
Equity decreased to : 250
EA is opening many trades more than 2 in each module..
it is exceeding the max limit given in the template..
…making it all high risky.
Kindly help ..how to manage risk now..or is it normal behavior of EA
Dear Sir,
I just installed the auto body printer and t is doing extreemly well. I have followed your instructions 100%.
Basically I am a affiliate marketer. Can I promote your product as an affiliate ?.
Regards,
Satya
India
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