Please read this blog post to understand how I personally use this EA and similar strategies: https://www.mql5.com/en/blogs/post/755038
To have enough margin and trade safely, you need at least 500$ in your account balance and have at least 1:500 leverage. Higher balance is safer as you have more margin to add positions to the grid.
If you do not want to invest 500$ or more, I recommend you use a cent account.
To test the EA:
in the input settings:
1: Write the ticker for AUDCAD in the input called “Symbol traded”(the second input from top in the menu). On most brokers the ticker is AUDCAD, but some brokers use suffixes, for example AUDCAD.r, AUDCAD.HKT, AUDCAD.ecn. Write the ticker as it is written in the market watch on your MT5 terminal.
2: Set the Autolot to match your desired risk profile:
- Autolot 0.5 = low risk,
- Autolot 1 = Low to moderate risk,
- Autolot 1.5 = Moderate risk,
- Autolot 2.0 = High Risk,
- Autolot 2.5 Aggresive risk
3: Select symbol AUDCAD
4: Use every tick or 1 minute OHLC testing model
5: Press start.
To use the EA on live account:
1: Drag the EA to AUDCAD chart and adjust the Autolot input according to your risk tolerance, insert the ticker as written by your broker for AUDCAD in the input called "Symbol traded", then click ok.
2: If you use the EA on multiple symbols on the same account, you must change the magic number from the input settings so each instance of the EA has a unique magic number. (I only advice to use the EA on AUDCAD, but it can be used on any symbol)
Before putting the EA on live account, test it for a few days on demo account on your broker to make sure everything works as it should and you get the same entries and exits as the monitoring signal: https://www.mql5.com/en/signals/1778541
