I would like to introduce to you one of the most innovative trading robot which I am pleased to work with: EA31337 Lite. It is new on the market, but it is getting popular very quickly. It takes an effort and time to understand the logic behind this Expert Advisor and several pages like this, therefore I would like to take that opportunity and introduce you to basic parameters of this Expert Advisor in order to use it with the full efficiency.
The uniqueness and efficiency of this robot is achieved by its ability to trade with dozens of logical strategies working as one which are based on the common indicators which can trade on multiple time frames at the same time (no need for multiple charts). The challenge is to manage all of them in the consistent way and choosing the best one at the right moment. So please find below the technical description of the custom parameters provided by the user input interface.
- Max orders [MaxOrders] (int, set 0 for auto)
Sets the limit of total orders to open.
Setting it to zero will automatically calculate the most efficient and safest limit based on the account and market conditions (e.g. given account balance, equity, free margin, leverage, market risk, lot size, risk ratio, etc.). The limit is recalculated each hour.
By default EA uses internal smoothing system which won't dramatically increase the upper limit, but if more orders are available based on the calculation, the limit is increased slowly based on the current limit on every hour.
When value is set to auto, the limit is recalculated at each new hour.
Suggested value: 0 for auto
- Max orders per type [MaxOrdersPerType] (int, set 0 for auto)
Sets the limit of total orders to open per each strategy. When set to zero, the number is automatically calculated based on the proportion between activated strategies and total Max orders. The re-calculation happens on hourly basis.
Suggested value: 0 for auto
- Lot size [LotSize] (>=0.01, set 0 for auto)
Sets a lot size of order to trade. Set 0 for auto calculation based on available free margin, account leverage, risk ratio and broker variables (e.g. lot step) which is re-calculated every new week. If your broker supports micro trading, then make sure that Trade micro lots option is enabled.
Suggested value: 0 for auto
- Trade micro lots [TradeMicroLots] (bool, true by default)
Enables trading with micro lots. If your broker doesn't support micro lots, this option should be disabled. It is highly recommended to enable this option if broker allows it.
- Main trend method [TrendMethod] (bitwise int; range: 0-255)
Trend method calculation based on the open and close price values of the less timeframes (M15-MN1). For example, if price was opened below previous close price, the trend is considered bearish, etc.
- Min volume to trade [MinVolumeToTrade] (int)
Sets minimum volume required to trade. This is ignored during backtesting.
- Max price slippage (in pips) [MaxOrderPriceSlippage] (double)
Maximum price slippage for buy or sell orders (in pips) when opening the order (See: OrderSend).
- Max retries for opening orders [MaxTries] (int)
Sets the number of maximum attempts to execute the order. For example if opening order has been rejected by your broker (e.g. when price is requoted), EA will add this operation to the queue. Number of retries doesn't block EA execution time, as they're queued by the task manager and executed at the next earliest possible time. However giving high number can open the order which is no longer valuable.
Suggested values: 3-5
- Min pip change to trade [MinPipChangeToTrade] (double, set 0 for every tick)
Minimum pip change to trade before the bar change. Set 0 to process every tick. Lower is better for smaller spreads.
Suggested values: 0.7-0.9
- Min gap between trades per type (in pips) [MinPipGap] (double)
Minimum gap in pips between trades of the same strategy on the same timeframe. So each time when the trade signal is raised, EA will scan the existing orders and if the difference between the previous opened order and the current is less than the gap, the signal is ignored. Useful to not repeat openings of similar trades.
Suggested values: 60-80
- InitNoOfDaysToWarmUp (integer)
Warm-up period in days to reduce lot size. Helps to protect balance against unknown market conditions.
Profit and loss parameters
- Take profit (in pips) [TakeProfit] (double; set 0 for none)
Take profit value which is the limit when to close the order with profit. If set to 0, the profit take is controlled by Default trail profit method option.
- Stop loss (in pips) [StopLoss] (double; set 0 for none)
Stop loss value which is the limit when to close the order with loss. If set to 0, the profit take is controlled by Default trail stop method option.
Trailing stops and profit
- Trailing stop (in pips)
Sets the default trailing stop loss value (in pips) for each opened order.
- Default trail stop method (set 0 for none)
Sets the default trailing stop loss method. This is usually suppressed by the strategy specific method.
- Trailing stop one way? (bool)
When set to true, the trailing stop moves only in one direction. Otherwise it can move in both ways.
- Trailing profit (in pips)
Sets the default trailing profit take value for each opened order.
- Default trail profit method
Default profit take method. This is usually suppressed by the strategy specific method.
- Trailing profit one way? (bool)
When set to true, the trailing profit moves only in one direction. Otherwise it can move in both ways.
- Decrease trail stop per minute (pip/min, set 0 to disable)
Decrease trailing stop for each opened order per each bar.
Suggested value: 0 to disable
- Trade with trend [TradeWithTrend] (bool)
When enabled, execute only orders which are trend friendly. It can minimalize the losses.
- Risk ratio [RiskRatio] (double; range: 0.1-5.0, set 0 for auto, 1.0 for default and 2.0 to double the risk)
Sets risk ratio value which may affect other parameters such as Max orders and Lot size. Setting it to zero enables auto calculation which is based on the account equity/balance ratio, overall profit/loss, number of active strategies, current market conditions, etc. Setting it to 1.0 applies normal risk at any time, 2.0 doubles the risk and increasing this value further increases the trading risk dramatically (which is not recommended).
Decreased risk means that EA will open less trades (when Max Orders is auto) and use smaller lot size (when Lot Size is auto), increased risk means opposite - more available orders to open and proportionally sets the larger lot sizes.
When value is set to auto, the ratio is recalculated at each new hour based on the new conditions.
Recommended value: 0 for auto
- Risk margin [RiskMargin] (double)
Sets the risk of the margin in percentage which you want to risk per each trade. Most of the trading experts advise that only 1% (or less) of the trader's capital is risked on each trade. This is also useful for accounts with larger capital in order to trade with small part of it. This change affects calculation of Max orders and Lot size when set in auto.
Recommended value: 0 for auto (which currently it is always 1%)
- Close order after X hours [CloseOrderAfterXHours] (set 0 to disable)
Close opened orders after certain amount of hours
- Min. profit factor per strategy to trade [ProfitFactorMinToTrade] (double)
Sets minimum required profit factor of strategy to trade. Recommended value is below 1.0 which indicate a losing strategy. If strategy reached maximum profit factor, it becomes suspended. This is useful to temporary disable strategies which aren't performing well in overall. The strategies are unsuspended on EA restart or by defining a custom action (e.g. None/New week/Unsuspend).
Suggested value: 0.9 or below
- Max. profit factor per strategy to trade [ProfitFactorMaxToTrade] (double)
Sets maximum required profit factor of strategy to trade. Recommended value is above 2.0 which indicate a winning strategy. If strategy reached maximum profit factor, it becomes suspended. This is useful to temporary disable strategies which are too successful, so they have time to calm down.
Suggested value: >5.0
BoostingBoosting parameters are checked every hour, on the hour. This is useful for low-balance accounts during non-predictable periods when you'd like to disable non-profitable strategies to decrease the risk. Or when you would like to boost your profit when specific strategy is profitable for specific period of time
- Enable boosting [Boosting_Enabled] (bool)
Activates boosting feature (which is all settings below).
- Boost by trend factor [BoostTrendFactor] (set 1.0 for default)
Boost each strategy by its profit factor.
- Multiplier for the best daily strategy [BestDailyStrategyMultiplierFactor] (set 1.0 for default)
Lot multiplier boosting factor for the most profitable daily strategy.
Suggested value: 1.5
- Multiplier for the best weekly strategy [BestWeeklyStrategyMultiplierFactor] (set 1.0 for default)
Lot multiplier boosting factor for the most profitable weekly strategy.
- Multiplier for the best monthly strategy [BestMonthlyStrategyMultiplierFactor] (set 1.0 for default)
Lot multiplier boosting factor for the most profitable monthly strategy.
- Divider for the worse daily strategy [WorseDailyStrategyDividerFactor] (set 1.0 for default)
Lot divider factor for the worse daily strategy.
- Divider for the worse weekly strategy [WorseWeeklyStrategyDividerFactor] (set 1.0 for default)
Lot divider factor for the worse weekly strategy.
- Divider for the worse monthly strategy [WorseMonthlyStrategyDividerFactor] (set 1.0 for default)
Lot divider factor for the worse monthly strategy.
Conditions & Actions
- Enable account conditions [Account_Conditions_Active] (bool)
When enabled, it activates account conditions. When disabled, all conditions/actions are ignored.
Please note it is a very complex feature and it may negatively affect the overall performance and profitability if misconfigured, so please use it wisely.
Be careful as this feature can be potentially dangerous as it can execute closure of certain group of orders or close them all for the given conditions. So please backtest your changes before trading.
The number of allowed actions to configure depends on the EA major version. Lite has maximum of 5, Advanced may have maximum of 30.
- n. Account condition [Account_Condition_n] (enum)
Checks the selected account condition. Set None to disable.
- n. Market condition [Market_Condition_n] (enum)
Checks the selected market condition. Set None to disable.
- n. Action to take [Action_On_Condition_n] (enum)
Executes the selected action only when both account and market conditions are met.
All order closure actions will only affect orders which are owned by EA based on its configured magic number.
Only one action per bar is allowed therefore multiple actions on the same bar may be ignored.
- Min pip profit on action to close [Account_Condition_MinProfitCloseOrder]
Minimum pip profit when closing the orders via action. Currently this only affect the action which closes the most profitable order.
Logs & Messages
- Write file report on exit [WriteReport] (bool)
When true, EA writes report into the file. When info messages are enabled, it is also displayed in the journal log.
- Display info on chart [PrintLogOnChart] (bool)
When true, EA prints statistics on the current chart.
- Display errors [VerboseErrors] (bool)
When true, EA prints errors to the journal log.
- Display info messages [VerboseInfo] (bool)
When true, EA prints info messages to the journal log
- Display debug messages [VerboseDebug] (bool)
Available in Backtest version only. Shows extra debugging (e.g. indicator values).
UI & UX
- Send e-mail per each order [SendEmailEachOrder] (bool)
If true, EA sends the e-mail for each opened order with the details.
- Color: Buy [ColorBuy] (int)
Color of the opening arrow on the chart.
- Color: Sell [ColorSell] (int)
Color of the closing arrow on the chart.
- Enable sound alerts [SoundAlert] (bool)
If TRUE, play sound for each opened and closed order.
- Sound: on order open [SoundFileAtOpen] (filename)
Sound filename to play when order is opened.
- Sound: on order close [SoundFileAtClose] (filename)
Sound filename to play when order is closed.
- Validate startup settings [ValidateSettings] (bool)
When enabled, it validates startup account and market settings. It validates whether lot size, step, min lot, max lot and required margin is valid (above zero), checks whether account balance is non-zero, also verifies whether timeframes for activated strategies are properly configured. This is useful to verify that all settings for backtesting are fine, so the test results can be more reliable to avoid any mistakes related to misconfiguration of the platform. Invalid settings especially happens in off-line mode, where not all the data has been received successfully from the broker.
Recommended value: True
- Demo market stop level [DemoMarketStopLevel] (int)
Value of stop level in points (MODE_STOPLEVEL). By default platform sets 0 for demo or backtesting, therefore changing this value may simulate real market conditions.
- Unique magic number [MagicNumber] (int)
Order magic number used as EA and strategy identifier. It can use +120 on top of it (each one for each strategy). Make sure you use different numbers when running multiple instances of EA robots on the same account.