Fidelity EA : Description of Settings + Recommended Values

Fidelity EA

MT4 : https://www.mql5.com/en/market/product/83910

MT5 : https://www.mql5.com/en/market/product/83911

Description of Input Settings :

• General Options

• Trade Type : Long/Short/Both/No-Hedge
• Stop Opening New Positions : if true, EA will not open a new position. Only will manage already opened positions.
• Maximum Spread to Open Position : Spread to stop trading (Use large values to disable this filter)
  
• Magic Number : Any constant ID.
• Order Comment : A 3-length string to identify comments of orders
  
• Show Panel On Chart : Shows report of positions on chart with the option of manual closing them. (Disable on tester for faster testing)

• Signal Settings
• Signal Amplitude : Any value. Larger values for larger trends. The recommended value is 1.
• Double Verification of Signals : Will check more rules for entry. Enabling this option will open a lower number of trades. The recommended value is True.
• Filter Signals Using Candle Types : Will consider candles bearish/bullish type for entry. The recommended value is True.
• Verify Signals on Daily Timeframe Also : Will check entry conditions on D1 timeframe also. The recommended value is True.
  

• Closing Positions
  

• Take Profit Mode : Options available :
• Disabled : Orders will not close on profit. They must be closed manually or by Trailing/BreakEven (If Enabled)
  
• Automatic : Orders on profit will close if opposite signal is detected
  
• Manual : Will use user manual input value to take profit. (Recommended)
• Manual Take Profit (points) : Manual TP value based on points (if Mode=Manual). Recommended values on below table.
• Stop Loss Mode : Options available :
• Disable SL : Orders will not close on loss. They must be closed manually or by Trailing/BreakEven (If Enabled)
• Automatic SL :  Orders on loss will close if opposite signal is detected
• Manual SL : Will use user manual input value for stop loss.
• Manual Stop Loss (points) : Manual TP value based on points (if Mode=Manual). Recommended values on below table.

• Grid Settings

• Grid (Averaging) Mode : Options available :
• Disable Grid (Averaging) : The grid (averaging) settings will be ignored. All orders will be single.
  
• Grid Using Add Volumes : Averaging will be used for losing orders. The volume will be increased by adding on each step.
• Grid Using Multiply Volumes : Averaging will be used for losing orders. The volume will be increased by multiplying on each step.
• Averaging Distance (points) : Distance of orders for averaging.
• Averaging Volume Multiplier : Multiplier of volume on each step of averaging
• Averaging Volume Add : Add volumes on each step of averaging
• Averaging Maximum Volume Per Trade : Parameter to control maximum volume of averaging
• Averaging Maximum Number of Trades : Parameter to control maximum number of averaging orders
  

• Volume Settings
  

• Volume Calculation Method : Options available :
• Fixed
• Dynamic Lots based on Balance/Equity/Free Margin
  
• Risk Percent based on Balance/Equity/Free Margin
• Fixed Lots : Volume of trading on Fixed Mode.
  
• Lots Per 1000 Balance/Equity/FreeMargin : Volume per 1000 Balance/Equity/Free Margin (If Dynamic Lots options selected)
  
• Risk Percentage of Balance/Equity/FreeMargin : Risk Percentage of Balance/Equity/Free Margin (If Risk Percent options selected). This option will use Manual Stop Loss input to calculate risk of trade.
  
• Maximum Volume Per Trade : Maximum allowed volume
  
• Minimum Volume Per Trade : Minimum allowed volume
  

• Trailing/Break Even

• Trailing Stop Loss : Enable/Disable Trailing Stop Loss
  
• Trailing Start : Trailing Start Distance in Points.
• Trailing Stop : Trailing Stop Loss Distance in Points.
• Trailing Step : Distance to apply Trailing Stop Loss in Points.
• Break Even : Enable/Disable Break Even
• Activate Break Even After Loss : Distance to apply Break Even in Points
• Note : These settings will be applied to single orders only. If grid order(s) opened, trailing or BE will be disabled automatically.

• Date and Time Filter

• On this section you can define valid trading time for each day of week separately.
  

Some Recommended Values for Manual TP/SL :

* These are typical settings. Traders can use any other values if they find them better on optimizations and backtests.