FrankoScalp MT5 Description

22 May 2019, 19:28
Konstantin Kulikov
0
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All parameters for EA FrankoScalp MT5

    • ==== GMT and DST ====
    • GMT_Offset_Manual - the value of the difference between your broker's server time and GMT (during testing establish value for the winter period);
    • GMT_Offset_AUTO - enable/disable automatic detection GMT Offset, based on the local computer time (in the Strategy Tester does not define);
    • Adjust_DST_Universal - enable/disable Daylight Saving Time correction (for the Strategy Tester);
    • Value_DST_Offset - the value of the time offset in hours (change of parameter GMT_Offset);
    • Month_start - month to start time correction;
    • Day_start - day of the month to start time correction;
    • Month_end - month to end time correction;
    • Day_end - day of the month to end time correction;
    • ==== Lot and MM ====
    • Use_Fix_Lots - enable/disable fixed trading lot;
    • Value_fixed_Lot - the value of the fixed lot;
    • Use_MM_1 - enable/disable the lot value based on balance;
    • Funds_for_001_Lot - amount of funds for 0.01 lot;
    • Use_MM_2 - enable/disable the lot value as a percent of deposit based on StopLoss;
    • Risk_Percentage - percent of deposit for lot value calculation;
    • Use_MM_Reg_1 - enable/disable recovery money management 1 (trading lot will not decrease in case of drawdowns);
    • Funds_for_001_Lot_Reg - amount of funds for 0.01 lot;
    • Use_MM_Reg_2 - enable/disable recovery money management 2 (trading lot will not decrease in case of drawdowns);
    • Risk_Percentage_Reg - percent of deposit for lot value calculation;
    • On/Off_Lot_Min_for_MM_Reg - enable/disable setting the minimum trading lot for the recovery MM_1 or MM_2;
    • Value_Lot_Min_for_MM_Reg - minimum trading lot for the recovery MM_1 or MM_2;
    • ==== Days without Trade ====
    • Use_Holidays_Pass - not to trade in the period of holidays which is set by means of parameters: Month_start_Holidays, Day_start_Holidays, Month_end_Holidays, Day_end_Holidays;
    • use_Date_Holidays -  not to trade in days of holidays which are set in line Date_Holidays;
    • Number_Start_Month - not to trade the number of days at the beginning of a month;
    • Number_End_Month - not to trade the number of days at the end of the month;
    • ==== Record of deals in the file ====
    • Record_Deals - enable/disable recording of Expert Advisor operation details to a file;
    • Name_File - file name for record;
    • note_jumps_of_spread - to note on a chart quantity of tics with spread which is more than specified in the parameters: more_than_spread_1, more_than_spread_2, more_than_spread_3;
    • ==== News Filter ====
    • Use_NewsFilter - to use the filter of news;  
    • News_All_countries - take into account the news of all countries;
    • News_USA - take into account the news of the USA;
    • News_Europe - take into account the news of the Eurozone and the UK;
    • News_currency_pairs - take into account the news for the current charts currency pair;
    • News_currency_string - take into account the news for the currencies which are registered in a line News_currency_str;
    • IncludeHigh - consider news of high importance;
    • MinsBeforeHigh - number of minutes before the release of high-priority news to disable opening of transactions; 
    • MinsAfterHigh - number of minutes after the release of high-priority news to disable opening of transactions;
    • IncludeMedium - consider news of moderate importance; 
    • MinsBeforeMedium - number of minutes before the release of medium-priority news to disable opening of transactions; 
    • MinsAfterMedium - number of minutes after the release of medium-priority news to disable opening of transactions;
    • IncludeLow - consider news of low importance; 
    • MinsBeforeLow - number of minutes before the release of low-priority news to disable opening of transactions; 
    • MinsAfterLow - number of minutes after the release of low-priority news to disable opening of transactions;
    • IncludeSpeaks - take into account news speeches by means of separate parameters: MinsBeforeSpeaks and MinsAfterSpeaks;
    • AllSpeaks - take into account news speeches of any importance at IncludeSpeaks = true;
    • MinsBeforeSpeaks - number of minutes before the release of news speeches of any importance, to disable opening of transactions;
    • MinsAfterSpeaks - number of minutes after the release of news speeches of any importance, to disable opening of transactions;
    • show_news_use - display the news on the chart;
    • show_news_mins_before - the number of minutes to display news on the chart from the current time back; 
    • show_news_mins_after - the number of minutes to display news on the chart from the current time forward;
    • ==== Strategies select ====
    • On/Off_Strategy_1 - enable/disable trading following strategy 1;
    • Comment_1 - a comment to the EA's trades under strategy 1;
    • Magic_1 - a unique magic number for the EA's trades under strategy 1;
    • On/Off_Strategy_2 - enable/disable trading following strategy 2;
    • Comment_2 - a comment to the EA's trades under strategy 2;
    • Magic_2 - a unique magic number for the EA's trades under strategy 2;
    • On/Off_Strategy_3 - enable/disable trading following strategy 3;
    • Comment_3 - a comment to the EA's trades under strategy 3;
    • Magic_3 - a unique magic number for the EA's trades under strategy 3;
    • On/Off_Strategy_4 - enable/disable trading following strategy 4;
    • Comment_4 - a comment to the EA's trades under strategy 4;
    • Magic_4 - a unique magic number for the EA's trades under strategy 4;
    • On/Off_Strategy_5 - enable/disable trading following strategy 5;
    • Comment_5 - a comment to the EA's trades under strategy 5;
    • Magic_5 - a unique magic number for the EA's trades under strategy 5;
    • On/Off_Strategy_6 - enable/disable trading following strategy 6;
    • Comment_6 - a comment to the EA's trades under strategy 6;
    • Magic_6 - a unique magic number for the EA's trades under strategy 6;
    • use_select_Stratedgy - to select strategy from 1 to 6 by optimization in a Strategy Tester;
    • ==== Common parameters ====
    • BUY_orders - to open a buy orders;
    • SELL_orders - to open a sell orders;
    • Slippage - allowable slippage in points (on Market Execution is not affected);
    • Max_Spread_Open_for_BUY - maximum spread when opening a buy trade in points;
    • Max_Spread_Open_for_SELL - maximum spread when opening a sell trade in points;
    • Max_Spread_Close_for_BUY - maximum spread for closing a buy trade in points;
    • Max_Spread_Close_for_SELL - maximum spread for closing a sell trade in points;
    • Close_for_Any_Spread_at_Pips_Profit - the number of points in the profit (taking into account the current spread), at which the order is closed (at the close signal) for any spread, is valid for a value greater than 0;
    • TakeProfit_Hide - virtual Take Profit hidden from a broker in points;
    • StopLoss_Hide - virtual Stop Loss hidden from a broker in points;
    • TakeProfit_Safety - Safety (real) Take Profit in points (TakeProfit_Safety has to be more TakeProfit_Hide);
    • StopLoss_Safety - Safety (real) Stop Loss in points (StopLoss_Safety has to be more StopLoss_Hide);
    • Duration_Pause_Minut_at_SL_Hide - pause duration in minutes when StopLoss_Hide is triggered;
    • Minimum_Duration_of_deal_in_seconds - minimum time of life of an open position in seconds, works at value more than 0;
    • Minimum_Pips_at_Profit - the minimum number of profit points for closing a positive transaction;
    • Close_Loss_only_by_SL - closing of negative trades only by StopLoss (virtual or real);
    • add_filter_of_entrance - additional filter for an entrance to the transaction;
    • Min_minuts_pause_between_orders - minimum pause in minutes between opening of orders;
    • Max_number_open_orders_in_pause - maximum number of opening of orders in a temporary pause (Min_minuts_pause_between_orders);
    • Min_pips_between_orders - minimum difference of the prices of opening in points, necessary for opening of the new order; 
    • negative_pips - to consider difference (Min_pips_between_orders) going against the open order;
    • positive_pips - to consider difference (Min_pips_between_orders) going towards the open order;
    • Total_open_transactions - maximum number of simultaneously open positions;
    • Use_Close_Analysis_Time - enable/disable the use of additional algorithm for closing transactions;
    • Max_Minut_Open_Order - maximum lifetime of an open position in minutes, works at value more than 0;
    • Max_GAP - minimum GAP for operation of a pause, works at value more than 0;
    • Duration_Pause_Minut - pause size at GAP in minutes, works at value more than 0;
    • ==== TIMING ====
    • GMT_Open_Trade_Hour - hour to start opening of transactions, GMT;
    • GMT_Open_Trade_Minute - minute to start opening of transactions, GMT;
    • Period_Open_in_minute - time duration for opening of transactions in minutes;
    • GMT_Open_Pause_Hour - hour to start a pause in opening of transactions, GMT;
    • GMT_Open_Pause_Minute - minute to start a pause in opening of transactions, GMT;
    • Period_Pause_in_minute - pause duration in minutes;
    • Use_Special_Monday - enable/disable a special mode for the GMT_Open_Hour parameter on Monday;
    • GMT_Monday_OH - time to start opening trades on Monday;
    • multiplier_of_trade_lot_for_opening_of_week - lot multiplier for the EA trades during the market opening on Monday;
    • Use_Special_Friday - enable/disable a special mode for the GMT_Close_Hour parameter on Friday;
    • GMT_Friday_CH - time to stop opening trades on Friday;
    • Reconfiguration_Time - to shift "GMT_Open_Trade_Hour" and "GMT_Open_Pause_Hour" on a number of hours ("Offset_Hours") in the period of time determined by parameters ("Month_start_RCT", "Day_start_RCT", "Month_end_RCT", "Day_end_RCT");
    • Offset_Hours - time shift of work of the expert in hours;
    • Month_start_RCT - month of the beginning of shift of work of the expert;
    • Day_start_RCT - day of the beginning of shift of work of the expert;
    • Month_end_RCT - month of the end of shift of work of the expert;
    • Day_end_RCT - day of the end of shift of work of the expert;

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Highlights to pay attention to


1. During live operation of the expert the GMT offset parameter is determined automatically based on local time of the computer (GMT_Offset_AUTO=true).

This parameter provides synchronization of the expert settings with the MetaTrader 5 server time.

To ensure the correctness of settings it is necessary:

  • to compare the GMT time in expert information area on the chart of currency pair, to which the expert is attached, with http://time.is/GMT (or other reliable source).
  • If the values do not match, then set GMT_Offset_AUTO=false and set a value of GMT_Offset_Manual according to the instructions in https://www.mql5.com/en/blogs/post/682539


2. The expert contains an archive of news (from 01/01/2015 to 06/09/2019), which is used during back-testing (if the expert parameter is set to Use_NewsFilter=true).


3. For this expert, a moderate lot size is 0.01 for 50-100 units of balance or risk per trade 1.5-3%.

You can set a trading lot depending on your preferences. I recommend using a fixed lot (Use_Fix_Lots) or a recovery money management (Use_MM_Reg_1 or Use_MM_Reg_2).


4. The expert works on any timeframe equally well, as it automatically takes the necessary data from multiple timeframes.

Back-testing is recommended on the M1 timeframe.


5. The expert writes information about the jumps of the spread to a file.

It is necessary for viewing of this information: 

  • go to MQL5/Files in the terminal folder and open the corresponding file (this action can be made in time which isn't coinciding with time of opening of transactions by the expert and when there is no open transactions of the expert);
  • after viewing, close the file (that the expert could write down information further).
For back-testing, set Record_Deals=false to speed up the test.


frequently asked questions

  • Whether it is necessary to change magic numbers (magics)? In the expert there is a filter on currency pairs therefore if you use the expert on different currency pairs, then there is no need to change magic numbers of "magics".
  • What has caused distinction of transactions on accounts of different brokers? First, different brokers have a different behavior of change of spread value. I.e. spread values at different brokers change in different timepoints and on the different number of points. Secondly, different brokers have different suppliers of quotations. I.e. quotations at different brokers can differ a little. 


Two sets of settings are offered.

The opening of transactions they have the same, the only difference is in closing transactions. The "CloseLossDifferentWays" set has variable closure (by indicators, time, Stop Loss), the "CloseLossOnlyBySL" set only by Stop Loss (hidden or real). With the peculiarities of the real conditions of individual brokers, it may be more beneficial to have one or another set. Therefore, I propose to use both sets simultaneously on the same account, i.e. two charts will be opened for each currency pair (nothing needs to be changed in the sets).

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