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Moving Average EA MT4/5 Settings/Inputs Guide

14 September 2021, 20:51

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✔️ Moving Average EA ΜΤ4©: https://www.mql5.com/en/market/product/45633

✔️ Moving Average EA ΜΤ5©: https://www.mql5.com/en/market/product/47673

Moving Average EA MT4/5 Settings/Inputs Guide

Allow Long: True/false for opening Buy orders.

Allow Short: True/false for opening Sell orders.

Minimum Distance for Same Direction Orders in Points: The minimum distance in points between same direction orders. You can put a large number here (larger than the average daily range of the pair that is traded, for example 3000) in order to open a new trade on the first candle after the Moving Average has changed slope direction and then a new trade on each new change of Moving Average slope direction.

Stop Same MA Change Trades After Close: True/false of the option to refrain from opening new same direction trades after the first trade(s) of the current direction ColoredMA signal has been closed with any kind of closure (TP, SL, BE, Trailing SL, Basket or manual closure).
First Session Trade on Next Signal: True/false of the option to open the first trade when the EA is first attached on the chart and in every next trading session (at the Start Hour/Minutes), right away when this setting is false (by default) or at the next opposite signal when it is true. This way you will be able to avoid exhausted signals that are near to their end.

Lot Size: The Lot Size of orders.

Use Risk %: True/false of the Risk % option.
Risk %: The % of account's balance that it will be risked in the first trade. Risk is calculated on Virtual Stop Loss level.

Magic Number: The Magic Number assigned in every trade.

EA Comment: The comment all trades of the Moving Average EA MT4/5 will have in the comments section of the Terminal/Toolbox window of your MT4/5 terminal.

Offset in Points: The better level from current price in points that the EA will wait for opening a new trade.

Opposite Logic: True/false of the option to open an opposite direction order of the current signal.

EA Timeframe: The Timeframe that the EA will function and open trades.

MA Timeframe: The Timeframe of the Moving Average.
MA Period: The Period parameter of Moving Average.
MA Method: The Method parameter of Moving Average.
MA Applied Price: The Applied Price of the Moving Average.
MA Shift: The Shift of the Moving Average in candles/bars.

Minimum Distance to MA in Points: The Minimum (Vertical) Distance of the about to open trade from the Moving Average in Points.

Maximum Distance to MA in Points: The Maximum (Vertical) Distance of the about to open trade from the Moving Average in Points.

Use MA Filter: True/false of the Moving Average Filter option, that allows the EA to open Buy orders only if the price is above the set Moving Average (the reverse for a Sell order). This Moving Average filter can be used as a trend filter with a higher Moving Average period than the main Moving Average (ColoredMA) period above.
MA Filter Timeframe: The Timeframe of the Moving Average Filter.
MA Filter Period: The Period of the Moving Average Filter.
MA Filter Method: The Method of the Moving Average Filter.
MA Filter Shift: The Shift of the Moving Average Filter.
MA Filter Applied Price: The Applied Price of the Moving Average Filter.

Start Hour: The Hour the EA will start opening trades on other weekdays.
Start Minutes: The Minutes the EA will start opening trades on other weekdays.

End Hour: The Hour the EA will end opening trades on other weekdays.
End Minutes: The Minutes the EA will end opening trades on other weekdays.
Trade on Monday: True/false option for opening new trades on Mondays.
Trade on Tuesday: True/false option for opening new trades on Tuesdays.
Trade on Wednesday: True/false option for opening new trades on Wednesdays.
Trade on Thursday: True/false option for opening new trades on Thursdays.
Trade on Friday: True/false option for opening new trades on Fridays.
Trade on Saturday: True/false option for opening new trades on Saturdays.
Trade on Sunday: True/false option for opening new trades on Sundays.

Max Spread in Points: The Maximum Spread allowed.

Max Slippage in Points: The Maximum Slippage allowed.

Use SL/TP Levels in: Points/Percentage of Average Daily Range. When Points are selected the EA uses the below Stop Loss / Take Profit / Break Even and Trailing Stop Loss levels in points for trading. When Percentage of Average Daily Range is selected the EA uses the further down Stop Loss / Take Profit / Break Even / Trailing Stop Loss in % of ADR (Average Daily Range) levels for trading. These levels that are express in percentage of the average daily range of the instrument that is trades helps the EA in being more responsive to the changes and volatility of the market.

Stop Loss in Points: The Stop Loss level for every order.

Take Profit in Points: The Take Profit level for every order.

Virtual Stop Loss in Points: The Virtual Stop Loss level for every order.

Virtual Take Profit in Points: The Virtual Take Profit level for every order.

Break Even Profit in Points: The profit level for every order, in which the EA will move the Stop Loss level to Break Even.

Trailing Start in Points: The level that the EA will start Trailing the Stop Loss for every order.

Trailing Stop in Points: The Trailing Stop Loss distance for every order.

Trailing Step in Points: The Trailing Stop Loss Step for every order.

Average Daily Range Candles: The number of daily candles that are used by the EA for the calculation of the average daily range for the Stop Loss / Take Profit / Break Even / Trailing Stop Loss in % of ADR (Average Daily Range) levels.
Stop Loss in % of ADR: The stop loss level used by the EA for each trade. This level is calculated as a percentage of the average daily range of the instrument that is traded. For example if 30 is inserted in this setting and the average daily range of it is 1000 points, the stop loss level that will be used by the EA will be 300 points.
Take Profit in % of ADR: The take profit level used by the EA for each trade. This level is calculated as a percentage of the average daily range of the instrument that is traded. For example if 50 is inserted in this setting and the average daily range of it is 1000 points, the take profit level that will be used by the EA will be 500 points.

Break Even in % of ADR: The profit level for every trade, in which the EA will move the Stop Loss level to Break Even. This level is calculated as a percentage of the average daily range of the instrument that is traded. For example if 20 is inserted in this setting and the average daily range of it is 1000 points, the profit level at which the Stop Loss will be moved to Break Even will be 200 points.

Trailing Start in % of ADR: The level that the EA will start Trailing the Stop Loss for every trade. This level is calculated as a percentage of the average daily range of the instrument that is traded. For example if 40 is inserted in this setting and the average daily range of it is 1000 points, the stop loss level that will be used by the EA will be 300 points.

Trailing Stop in % of ADR: The Trailing Stop Loss distance for every trade. This level is calculated as a percentage of the average daily range of the instrument that is traded. For example if 30 is inserted in this setting and the average daily range of it is 1000 points, the Trailing Stop distance will be 300 points.

Trailing Step in % of ADR: The Trailing Stop Loss Step for every trade. This level is calculated as a percentage of the average daily range of the instrument that is traded. For example if 10 is inserted in this setting and the average daily range of it is 1000 points, the Trailing Stop Loss Step will be 100 points.

Basket Take Profit %: The Take Profit level in % of balance (decimals are available) for all open positions combined, in which the EA will close all open positions. *

Use Basket Stop Loss: True/False of the Basket Stop Loss option.

Basket Stop Loss %: The Stop Loss level in % of balance (decimals are available) for all open positions combined, in which the EA will close all open positions. *

Use Basket Break Even: True/False of the Basket Break Even % option.

Basket Break Even %: The profit level in % of balance (decimals are available) for all open positions combined, in which the EA will move the Stop Loss level to Break Even. *

Use Basket Trailing: True/False of the Basket Trailing Stop Loss option.

Basket Trailing Start %: The profit level in % of balance (decimals are available) for all open positions combined, in which the EA will start Trailing the Stop Loss level upwards.

Basket Trailing Stop %: The Trailing Stop Loss level in % of balance (decimals are available), in which the EA will close all open positions if its reached. *

Basket Trailing Step %: The Trailing Step level in % of balance (decimals are available), in which the EA will move the Stop Loss level.

Close by Opposite Signal: True/False of the option to close same direction trades on an opposite Heiken Ashi color/signal candle.
Close All Positions on Friday: True/false option to close all open positions on Friday, before the weekend, in order to avoid gap problems on Sunday night market opening.
Close All Positions on Friday Hour: The Hour that the EA will close all open positions on Friday.
Close All Positions on Friday Minutes: The Minutes that the EA will close all open positions on Friday.