Settings

Settings Arrangement for version 4.14 or later updates:

In 4.14 all inputs in parameters window have been rearranged, below are the screenshots of all parameters and soon all will be fully explained under each screenshot. To get to parameters window, right click on your chart that has EA loaded on and Select Expert Advisers > Properties.

Global Settings Section:

Each of the screenshot below contains 8 lines, explained by each screen.

Instrument: In this field you can input instrument that you prepared settings for, or list currencies that this template or preset can be used on.

Global inputs: This is a separator line telling that the following inputs affect all modules of the EA

Default Time Frame Options: This is an explanatory line that shows what inputs can be used for the following field

Default Time Frame: This is where you input time frame to be used by the EA. This EA does not care what time frame you use on the chart you have attached to, It monitors the time frame you input in this field only, Here M1 is used as default time frame so it monitors m1 internally regardless of what time frame you use on the charts. You can change that by inputting other values shown in the previous field. Longer time frames result on less often trading activity and affects overall behavior greatly.

Trade on Sunday: If set to True EA is allowed to trade on Sundays, If set to False EA will not do any trading on Sundays, Usually the Forex market opens up on late Sunday few hours before midnight. You can disable trading at market open by disabling trading on Sundays.

Sunday Absolute No Trading Hours:  If previous value is set to true you can then input hours in this field that you do not want EA to trade within. You input should be like this: 20,22  – This format uses 0-23 for the 24 hours and refer to GMT time which is currently automatically determined by the EA. so an input of 22 by itself would disable trading on the hour 22 every Sunday, but will not stop EA from managing existing trades, just not allow any new trades to be taken in the disabled hour. Hour numbers should be separated by commas and no spaces like this: 0,3,6,7

Similar to above, EA has enable / Disable trading  and absolute no trading hours for the entire trade week. As shown on the screen shot below

Each weekday can have trading enabled or disabled for the entire day or select hours to prevent trading on those hours. If nothing input on these blank field there is no restrictions.  To prevent trading on certain hours input Hour numbers in the absolute no trading hours field separated by commas like this example:

0,4,17,23

 

The following parameters are additional inputs that affect all trading modules of the EA:

Slippage: maximum you allow for slippage if not met EA would skip the trade for certain modules.

Trade Comments: Enabled by default.  Ea will display a comment in the terminal window showing which trading module is responsible for the trade and for partially closed orders it shows each trade original ticket number, You can disable Trade comments if you do not want your broker to know that you are automatically trading. Mt4 will display comments only if you check that option in terminal window.

Global Riskmax: Because there are so many modules and trades in the EA and each one has its own Riskmax settings, we created this option for those willing to change Riskmax for all modules and all trades in one quick input. If set to True, then EA will use the Global Riskmax Percentage .

Global Riskmax Percentage:  If previous Field is set to True then this field input will be used for calculating all trade sizes based on input of this field and account size and leverage used. Default value 0.02 means initial trade size is Your default leverage X Equity X 0.02. Please note that minimum lot requirement by broker can override this or prevail when the resulting trade size is below minimum lot.

Max Spread: You can enable max spread option and set max Spread allowed to a value of 1 or more. EA would not take any trades with initial value greater than allowed in the Max spread Allowed input

Trade on Holidays: All major US and European Holiday for each year are updated in the EA code and if trading on Holidays is disabled the EA would not trade on these days. approximately about 10 days per year.

 

Use Trail Stop: If you want to prevent EA from using trailing stop you can disable this option, This EA usually uses trailing stop which can have a negative value. Trailing stop follows the market price as long as the market is moving favorably by a distance referred to in each trade or module parameter as TS.  you can set TS value for each module and each trade in the Normal Time based module. the distance from market price is in pips. Trailing stop does not move backwards and when market comes back to it, it is hit and the trade is then closed. It requires that your Mt4 is on all the time and connected meaning that is not registered on your broker server except when is hit.

Use Profit Pool: Rather than using profit limits that shows up on broker server or not allowed by some brokers, This EA uses profit pool system which allows the EA to close a percentage of any profitable trade at certain profit in pips value. The other part of the trade that stays after closing a part in profit is then left for its chance with the trailing stop. The value of profit pool is something you can set for each module and each trade of Time module also there you can set the percentage of the trade to be closed.

Trade Age Compensation: A trade that becomes a floating losing trade can have a new setting for profit pool, In the Age trigger Days you can input any value above 1 and if a losing trade comes near becoming profitable again after its age exceeds the age value in number of days, it will close at the New Close At PIPS Profit Value. Example if a trade is losing for more than a day and originally is set to close at 20 pips profit, it would close at 7 pips of profits according the inputs shown in the screenshot here, Of course you can experiment in tester with lots of values for each parameter. you can use higher lo lesser value than the original value.

Use Loss Pool: This is a time based stop loss that would close a part or all losing trades after certain hours and minutes have passed while it is still on loss.

If Loss Pool is Enabled then the next filed you can specify what percentage will close of each trade, it can have any value from 1 to 100, and it works in a way that the EA will close another part of the trade each time. In example shown in screenshot EA will close 33% of the losing and every losing trade whenever 24 hours and 0 minutes have passed while still in losing state. so every 24 hours another 33% will be closed until trade is finished. Percentage to be closed, hours and minutes to be closed after are values you can change and experiment with. If a trade that had portions of it already closed while it was a loser and remaining portion somehow runs to profit side closing by time will stop unless it runs back to negative side.

 

Additional Auto close options are available and they affect all trades and modules, This can be disabled by entering 0 values.

Close Losing After Hours: 0 = not used any other value will enable this option. Losing trades in this example will close after 72 hours in loss.

Close Losing After Min: You can input additional minutes in this filed to be added to Hours in previous filed,

Close Winning After Hours: You can also set hours  that will make EA close profitable trades entirely by time, You can also fine tune this option by entering minute values on the minute field.

Max trades to Close: here you can specify how many trades you allow to be closed by this option.

Daily Volatility Table: There are times in the day where the Forex market prices hardly move called choppy market hours. To optimize for these hours as well as for those hours in the trading day when the price move by longer candles we have created Daily volatility table and is a global settings the affect all trades and modules of the EA when enabled. The table consists of 24 hours and each hour can have 0, positive or negative value. When the EA has a trade in profit and the Volatility table option is enabled it will add or deduct the value that applies to the original trade profit pool setting based on time of the day. Times are on GMT and automatically calculated by the EA to correspond with broker time. So the time when the trade closes by its profit pool greatly affect its profit as well as its chance to be closed, only when this option is enabled.

In the example below shown here if the EA has trade that is originally supposed to be closed or partially closed at 10 pips of profit, if  Volatility Table is enabled EA would take to account the values shown below and add or subtract to determine what profit it needs to take based on the time of the day:

If it is 2 in the morning it would have to add 14 pips to original 10 in our example so it would require 24 pips to close the trade or a part of it.

If it is 4 then it would be 10+8

If it is 5 then it is original pool setting unaffected.

If it is 7 then it would be 10-6

All these values can be changes to your likings both original and the table.

No need here to list all screenshots of similar nature because you can have the idea.

Right After Volatility Table settings comes AfterNews Trading Module settings:

The separator line Tabled A is followed by After News Trading Module. It contains pages of parameters that affect the behavior of this trading module.

This trading module have 5 trading options to be used as trade type and is explained in details below

 

 

AfterNews Trading Module:

After News Trading Module: Switching on or Off

News Auto Max Trade: If this option is set to True then the module will allow number of trades based on account size, the larger the account the more simultaneous trades it can have but in that case option 5 can not be used as trade type. More on this later,

Type of order: explained in previous field there are 5 options for trade type for this module explained in details here:

Option 1: when 1 is entered as trade type: The module would only do Buy trades.

Option 2: when 2 is entered as trade type: The module would only do Sell trades.

Option 3: when 3 is entered as trade type: The module would create a hedge of Sell and Buy trade . 2 opposite trades at a time.

Option 4: when 4 is entered as trade type: The trade direction is controlled by an array that contains an input for each hour of the weekday. That array is available down the news trading section if yu scroll down to it, It is labeled Array for Option 4 news trading, all fields in it are set to 1 by default which means Buy. You can can set each field to 2 ( Sell ) or 0 to disable news trading in that hour of the week.

Option 5: when option 5 is entered as trade type the EA  would switch trading direction from Buy to Sell based on one or 2 conditions that available under the Sell section of the AfterNews Trading Module, This option requires that the AfterNews module AutoTrade max feature is disabled which will allow the EA to take the second trade, the third trade, the fourth trade and the fifth trade of each direction based on the location of the trailing stop of the previous trade.

Each side, Buy or Sell in this module has its own settings for :

SL: Stop Loss , 0 disables SL, any positive value activates it.

TP: Take Profit , 0 disables TP, any positive value activates it.

TS: Trailing Stop of the first trade in each direction. First trade is the trade that occurred first in the Buy direction by this module, and it only counts trades made by this trading module. completely unaware of other trading modules in this EA, meanwhile other modules of the EA may be aware of After News trading modules and count its trades in the trade Max allowed.

Buy News TS Trigger: is the trigger pip value for trailing stop to be generated in News buy direction applies for first Buy trade.

Second Buy Trade TS1: works when option 5 is used as trade type the value here will trigger a second trade in the Buy direction, in our example here the module will create a second Buy trade when the first Buy trade is 2 pips in profit according to settings here.

Third Buy Trade TS2: The value of the second Buy trade trailing stop at which point the EA will create the third Buy trade, in example in screenshot EA would create third trade when 2nd Buy trailing stop trade is 77 pips in profit.

Fourth Buy Trade TS3: The value of the 3rd Buy trade trailing stop at which point the EA will create the Fourth Buy Trade by this module, in this example 2o pips in profit, so when third Buy trade is 20 pips in profit the this trading module would create another Buy trade for a total of 4 trades in the Buy direction at this point.

Fifth Buy Trade TS4: when the previous trade is also in profit and its trailing stop equal or exceeding value in this filed, EA module AfterNews will trigger last Buy trade for a total and maximum of 5 Buy trades when the settings in the previous field are all met by the market and none of the trailing stops have been hit, Trailing will continue for as long as the market is a way from the trailing stop of the first trade in the sequence. when price collapse and TS is hit all trades will be closed and a new sequence from scratch will get started unless trading direction is changed by trend detection mechanism which its inputs will follow.

Buy News Close at Pips Profit: If trailing stop is allowed in Global parameters then this and the following input are very important for every module and every trade in the Time module; Since EA will close a portion of every trade this input tell how much profit to close the first portion of the trade at. in this example 11 pips, and if volatility table is enabled in global settings this 11 would not be the final profit for this closed trade but it will be less or more depending on time of day and values in the volatility table.

Buy News Close What Percentage: if 100 is used here then EA would close entire trade on the previous field value of required profit ( +/- volatility table value for closing hour ). Any other value less than 100 can be used here to tell EA to split the trade. EA would close portion of the trade specified here at pips value specified in previous field, Remaining portion of trade will then be left for the trailing stop and trailing stop inputs of the buy side of the module will be in effect until trade is closed.

Buy News Use AutoRiskmax: AutoRiskmax is a feature of the EA that enables trading at very high risk for very small accounts and gradually reduces risk and use of leverage as account grows. It eliminates errors or inability to trade for small accounts ranging from as low as $50 and up. Auto Riskmax feature can baby sit account all the way to $500 000 size and only then the Riskmax will be fixed  and not changing dynamically as account size change.  This input can be Enabled or Disabled, If disabled then you must input manual Riskmax in the following field.

Buy News Manual RiskMax: If previous field is disabled ( set to False ) this means this field is activated and the Riskmax value here would indeed be used by EA to calculate your trade size for the Buy direction of the AfterNews trading module ( Every trade module has its own settings in regard to this matter ).  The Riskmax is used by EA to calculate trade size in the following manner:

Trade = Default leverage X Equity X Riskmax.

Example : default leverage is 100 and equity is 5000 and Riskmax is 0.02, So trade size would be 100 X 5000 X 0.02 = 10 000 which is mini lot. If Riskmax is set to 0.2 instead of 0.02 then the trade would be 100 000 which is standard lot which is 10 times riskier on an account this size than mini lot.

Sell News TP: First input on Sell side of AfterNews module : Profit Limit: 0 = unused.

Sell News SL: Initial Stop Loss limit: 0 = unused. Any other positive value can be used, as soon as Trailing stop is triggered Stop loss is overridden by Trailing stop value. this rule applies to all trades.

Sell News TS: The distance at which Sell trailing stop must stay from the market price for AfterNews module. Trailing Stop of the first trade in Sell direction. First trade is the trade that occurred first when there are no Sell trades by this module, and it only counts trades made by this trading module. completely unaware of other trading modules in this EA, meanwhile other modules of the EA may be aware of After News trading modules and count its trades in the trade Max allowed.

Sell News TS Trigger: is the trigger pip value for trailing stop to be generated in News Sell direction applies for first Sell trade.

Second Sell Trade TS1: works when option 5 is used as trade type the value here will trigger a second trade in the Sell direction, in our example here the module will create a second Buy trade when the first Sell trade is 2 pips in profit according to settings here.

Third Sell Trade TS2: The value of the second Sell trade trailing stop at which point the EA will create the third Sell trade, in example in screenshot EA would create third trade when 2nd Sell trailing stop trade is 77 pips in profit.

Fourth Sell Trade TS3: The value of the 3rd Sell trade trailing stop at which point the EA will create the Fourth Sell Trade by this module, in this example 2o pips in profit, so when third Sell trade is 21 pips in profit the this trading module would create another Sell trade for a total of 4 trades in the Sell direction at this point.

 

 Fifth Sell Trade TS4: when the previous trade is also in profit and its trailing stop equal or exceeding value in this filed, EA module AfterNews will trigger last Sell trade for a total and maximum of 5 Sell trades when the settings in the previous field are all met by the market and none of the trailing stops have been hit, Trailing will continue for as long as the market is a way from the trailing stop of the first trade in the sequence. when price returns and TS is hit all trades will be closed and a new sequence from scratch will get started unless trading direction is changed by trend detection mechanism which its inputs will follow.

Trend Detection Hours: Fifth trade occurrence on both direction is used as a part of trend detection mechanism active only when option 5 is used as trade type in AfterNews module.  In this input you can specify how many hours is allowed to pass and the EA is trading in a direction without reaching 5 trades maximum allowed per direction. having 5 trades in a direction by this module means the EA is actually trading with the trend.  but here you can specify to the EA that it must switch direction of trading to the opposite side when no fifth trade has occurred for a particular number of hours, entering 0 in this field disables this option and allow using the option in the next field by itself as trend detection mechanism. similarly having 0 in the following field allows the EA to depend entirely on this input to determine trend without taking into account losing trades in a raw.

Consecutive Losses: You can specify a number of consecutive losses for the EA to switch trading direction. in this example is set to 3 meaning EA would switch trading from Buy to Sell and from Sell to Buy after 3 consecutive losses. if set to 0 no switching based on consecutive losses will occur and EA would watch for hours without Fifth trade occurrence to switch trading direction.

Sell News Close at Pips Profit: If trailing stop is allowed in Global parameters then this and the following input are very important for every module and every trade in the Time module; Since EA will close a portion of every trade this input tell how much profit to close the first portion of the trade at. in this example 11 pips, and if volatility table is enabled in global settings this 11 would not be the final profit for this closed trade but it will be less or more depending on time of day and values in the volatility table.

Sell News Close What Percentage: if 100 is used here then EA would close entire trade on the previous field value of required profit ( +/- volatility table value for closing hour ). Any other value less than 100 can be used here to tell EA to split the trade. EA would close portion of the trade specified here at pips value specified in previous field, Remaining portion of trade will then be left for the trailing stop and trailing stop inputs of the buy side of the module will be in effect until trade is closed.

Sell News Use AutoRiskmax: AutoRiskmax is a feature of the EA that enables trading at very high risk for very small accounts and gradually reduces risk and use of leverage as account grows. It eliminates errors or inability to trade for small accounts ranging from as low as $50 and up. Auto Riskmax feature can baby sit account all the way to $500 000 size and only then the Riskmax will be fixed  and not changing dynamically as account size change.  This input can be Enabled or Disabled, If disabled then you must input manual Riskmax in the following field. Please refer to example mentioned earlier regarding manual Riskmax input.

Pips Trigger: In After News trading module trading is based on time frame used internally in the global settings and pips trigger. If M1 is set as default time frame in global settings of the EA ( regardless of time frame you set in your charts ) then EA would trigger an after News trade whenever a one minute candle exceeds the Value of the Pips Trigger input. If set to 0 then EA would not wait after trade is closed and will trade immediately unless the volume trigger is also used. but if Pips trigger is set to 10 for example EA After News Module would not trade until a 10 pip candle has occurred.

Delay in Minutes: Here you can enter any value for the After News trading module to wait the number of minutes you specify before taking its first trade.

Wait for Volume Trigger: This and the next 2 parameters that follow set the Mt4 volume data to be used as trade trigger for AfterNews trading module. If set to True then the next two lines can be active.

Number of Volume Bars: If previous filed is set to True then EA will watch Mt4 volume bars. It will compare any number of bars value to the preceding number. Here you can set the number of volume bars to watch over for comparison with the previous similar set of volume bars. It works in conjunction with the next field value and an explanatory example will be given after explaining the next field.

Vol Multiplication Factor: A good value for this input would be between 2 and 4. This tells the EA how when to trigger the trade when this whole option is used and works in the following manner. like in this example;

Number of Volume Bars is set to 1 and Multiplication Factor is set to 4: EA would trigger trade when current volume bar is 4 times taller than the previous volume bar !

Another example and more extreme;

Number of Volume Bars is set to 20 and Multiplication Factor is set to 2: EA would constantly track total volume of last 20 volume bars and compare to the total volume of the previous 20 bars preceding the last 20 bars. and when the last 20 equal or exceeds twice the total of the preceding 20 volume bars that is when the trade is triggered in that case. of course this can require lots of experimentation in the tester to come to useful values.

News Back Test Solo: This option works only in tester and only applies for testing in the Mt4 strategy tester. It works like solo function in the Audio mixer which mutes all other channels in the mixer so this channel can be heard clearly and checked for flaws. With this EA you can disable trading of all other trades and modules by checking the Backtest Solo on, this is very useful for research time and settings preparation specially when more than module is used particularly the Time based Normal trading module.

Option 4 settings array: This works when After News Trade type is set to 4 thus this is called option 4 trading array:

This array consists of Monday Thru Friday trading days and a slot for each hour in this time span of the trading week. If trade type is set to 4 it means EA will pick up trade direction from this array based on day of the week and time of the day. Each hour slot can have one of 3 values; 1 = Buy , 2 = Sell, and 0 = No trade will occur in that hour in that day of the week.

In the default settings ( 4.14 ) you will see that all values of the array are set to 1 which will make it behave just like if the trade type of the AfterNews module is set to 1 or Buy only. As you can see you can edit and change the settings as you like. in our template the trade type is set to 5 which means option 4 settings array is completely over-passed.  Go back in explanation of option 5 as trade type for more details. Similarly using 4 as trade type will disable all option 5 functionality and the max trades for module will work normally.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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

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

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

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

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

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

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

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

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

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 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.


44 Responses

  1. Paul Warren says:

    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.

    • admin says:

      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.

  2. Jasper Lewis says:

    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

    • admin says:

      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.

  3. Jasper Lewis says:

    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?

    • admin says:

      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.

  4. Tony Yu says:

    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

    • admin says:

      Please check with your broker if your account requires ECN order type, if ECN you need to enable ECN broker option.

    • admin says:

      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.

  5. Tony Yu says:

    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

  6. Tony Yu says:

    Hello again,
    Do you offer a user manual as well?

    Thanks,

    • admin says:

      Currently all up to date information about this EA is on this website, please check the tabs above the pages.

  7. soniya kv says:

    Plz tell me how to increase lot size?

    • admin says:

      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.

  8. soniya kv says:

    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

    • admin says:

      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.

  9. Ben Newman says:

    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

    • admin says:

      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

  10. PAvol Jurca says:

    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

  11. KeithN says:

    Please confirm the time displayed on the chart, “EA time is …” is GMT (i.e. Broker time =/- “HoursShift”.

    Cheers

    • admin says:

      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

  12. Naif says:

    Can you show me 5-10 years backtesting .

    Thanks,,

    • admin says:

      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

  13. Alexis says:

    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?

    • admin says:

      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

  14. Josep says:

    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.

    • admin says:

      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

  15. Binh says:

    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

    • admin says:

      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

  16. Sugat says:

    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).

    • admin says:

      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.

  17. Sugat says:

    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

    • admin says:

      Sorry your comment was missed for some reason for a long time and you got no replay from. We have made many updates since then please insure you have latest version

  18. Satya Sheela says:

    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

  19. bocceda says:

    pouvez vous indiquer des parametre pour chaque options ainsi que sur quel time frime travailler

  20. Brad says:

    According to the instructions for version 4.15 the EA Time should be GMT. But the EA Time displayed is local time which is the same time displayed on the computer clock. This was not a problem when I was using version 4.08 because it had a shift setting allowing the correct GMT time to be displayed as EA Time.

    How do I get version 4.15 to display GMT?

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