Installing and using our EAs
Welcome to the guide for effectively using and configuring your Expert Advisor (EA). In this article, we’ll walk you through setting up the EA, understanding its inputs, and optimizing it for your trading goals.
How to Run the EA on a Chart
To set up your EA, drag it ontoonly one chart in MetaTrader it can be any symbol or any timeframe . Ensure you’ve enabled auto-trading and that the EA inputs are correctly configured. For detailed steps, check the blog below:
How to Run the EA on a Chart
How to Update the EA When an Update is Available
Keeping your EA updated ensures you’re always using the latest features and bug fixes. Follow the guide in the blog below to update your EA easily:
How to Update the EA
What’s the Best Setfile?
The EA’s default settings are optimized for most trading conditions, making them the best starting point. However, you can optimize these settings further to suit your broker and strategy. Additional setfiles, if available, will be shared on our channels.
How Can I get the latest news about the EA?
To stay updated with the latest news, strategies, and setfiles, send me a private message on MQL5. I’ll provide you with the link to our Telegram channel.
Also you can access updates and community discussions by joining the MQL5 channel. Here’s the direct link: https://www.mql5.com/en/channels/hatchybots
Inputs Details
DEFAULT CONFIGURATION
- Pairs — Defines which instruments or currency pairs will be traded (e.g., “XAUUSD”).
- Main magic number — Unique identifier assigned to distinguish trades made by this EA.
- Comment — Custom note that appears in each trade’s comment field.
ADJUST SIGNAL PREFERENCES
- Enable safety switch (no order without SL) — Activates prop-firm style protection ensuring every order has a stop loss.
RISK INPUTS
- Lot management calculation method — Defines how lot sizes are calculated (fixed, balance-based, or adaptive).
- Fix lot value — Sets a constant lot size for every trade.
- Disable bypass risk adaptation — Prevents automatic adjustments to risk parameters.
EXTENDED SETTINGS
- Normalizes spread for guards/rules — Determines how many ticks are used to smooth spread variations.
- Directional microstructure guard — Number of stable directional ticks required to validate trade entries.
- Short-term fill quality window — Number of ticks used to measure short-term order fill reliability.
NEWS TIMING LOGIC
- High impact news filter option activated — Disables trading during major market-moving news events.
- Medium impact news filter option activated — Suspends trading during medium-impact events.
- Low impact news filter option activated — Adds filtering around low-impact news releases.
- Trading pause setup before news — Sets how many hours before a news event trading will be paused.
- Trading pause setup after news — Sets how many hours after a news event trading remains suspended.
How to enable news filter in MT4/MT5
- Go to Tools > Options (or press Ctrl + O ).
- Select the Expert Advisors tab.
- Tick Allow WebRequest for listed URL.
- Add this URL: https://nfs.faireconomy.media and click OK.
EQUITY-BASED CLOSE
- Maximum drawdown setting for trade prevention — Stops new trades when drawdown exceeds this percentage.
- Close orders on DD — Forces all open trades to close automatically once the drawdown limit is reached.
Testing and Optimizing the EA
- Backtesting: Always test the EA on historical data to ensure it performs well under different market conditions.
- In MT4, backtesting is confined to a single symbol.
- To proceed, delete additional symbols from the input and run the test in "every tick" mode.
- MT5, by comparison, handles multi-symbol backtests effortlessly, providing excellent accuracy.
- Optimization: Use MetaTrader’s strategy tester to tweak parameters and find the best settings for your broker.
