Alpha Grid MT5: OTHER Settings
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Alpha Grid MT5: OTHER Settings

10 March 2024, 07:12
Aliaksandr Charkes
Aliaksandr Charkes
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<<   Back to the General Section with a description of the settings

OTHER EA Settings and Features

 This section describes settings that are not included in any other sections.

>>   Magic number for all expert's orders  - any group of digits (no more than 9)
    The magic number is a set of digits that the EA uses to distinguish its own orders and positions from those of others. That is, you can write any number in this setting, but this number must be different for each new chart. The difference in the magic number is a necessary condition in order to use one EA correctly not only on different symbols, but also on the same symbol. That said, using an EA on several charts of the chosen instrument at once opens up an additional wide range of different strategies, which, unfortunately, cannot be tested in the tester.
      For instance, this way you may lay out several trading grids on a chosen currency pair, and then each of these grids will work in a fully automated mode, without affecting each other's orders and positions in any way. Technically, it is possible to open a separate chart even for each price level, and then these levels can be placed as desired.
        The more functional the EA is, the more options of simultaneous use can be arranged. For example, for Expert Advisors, which support trading with the time limit, we can make a whole schedule. Moreover, the schedule can be sequential or parallel, because only those orders and positions, which will be attached to a certain chart, will be created and closed at a certain moment of time. This means that it is even possible to arrange a trade - for example, there is a long term grid, and a short term one can be launched inside it, which will be opened and closed only at news releases.

          Many things are possible, but again(!) when using it this way you should always remember the main rule. On each chart an EA should use its own (unique) magic number! If this is not done, and clones of EAs from different charts will interfere with each other, a bacchanalia will start, which in some cases can even lead to account blocking.

          Any change in magic number after the start of trading will reset all saved values!

            >>   Comments for EA orders - custom comment for each order or EA position on the current chart (no more than 5 characters, unnecessary ones will be truncated)
              The Expert Advisor automatically generates a system comment for each order, indicating: its instrument, the stated opening price of the position and its type. Plus, the trader can add his own label to make it even easier to visually distinguish orders and positions in their total list. For example, if the Expert Advisor is used on one currency pair several times (with different settings), orders for each individual chart can be additionally labeled with these comments.
                >>   EA Language - EA interface language switch

                  Most of the language used at the moment is English

                  >>   Button for close market positions - enable the button for closing market positions to be displayed on the chart
                  With this button you can automatically close all market positions of the currency instrument on which the Expert Advisor is running. It should be well understood that when you click the button, only market positions are closed! No pending orders are deleted, because if this button is pressed, in most cases, the Expert Advisor will immediately restore its orders. If there is a need to delete the pending orders as well, we need to zero out the set values of price levels in the settings.

                  If this button is enabled and obsolete positions appear on the market, a separate button also appears on the chart to close them en masse. By clicking this button, only all obsolete positions of the EA are closed. What is an obsolete position, read the description of the relevant section (Settings for Old-Grid expert positions)

                  These buttons must be pressed with the CTRL + Left Mouse Click combination to prevent a trader from making this operation accidentally (e.g. when dragging the button to another place on a chart). And yes, both of these buttons can be freely moved around the chart with the mouse.

                  >>   Stop EA work after restarting the terminal
                    This setting allows you to freeze the action of the EA after a restart of the terminal. 

                    For example, the Expert Advisor will not restore pending orders, whose positions have been closed while the terminal has been switched off. Or it will not close market positions if any limit trade was activated before the terminal was shut down, and the limit has been reached during the time the terminal was idle.

                    In such cases, the trader is given an extra chance to reassess the current market situation and possibly change the EA settings before unfreezing its action again...

                    If actions of the Expert Advisor have been frozen, after the terminal is switched on, a special panel-button appears on the chart with the message that the work of the Expert Advisor has been stopped. This panel can be freely moved on the chart with the mouse, and to start trading again, simply click on it, using the combination CTRL + Left Mouse Click (this combination is chosen so that the trader does not perform this operation accidentally.

                    Additional Information and Features

                    • Any information panel or button on the chart can be brought to the foreground using the key combination: Shift + Left Mouse Click. This makes it possible to place indicator buttons (collapsed panels) in any convenient place, so as not to clutter the chart and open the necessary panels only as needed.

                    • The top row of the general information panel (which shows the current server time) is also an indicator of the connection to the server. If a tick has not been received for more than 5 seconds, the color of this row changes, and if at this moment you hover the mouse arrow over it, the time of the last data update will be displayed in the tooltip.

                    • The general information panel has a special block that not only shows the current initial prices for each grid, but also allows you to turn on and off various auxiliary lighting directly on the graph. This block is divided into 4 rows and 4 columns, where each column has a specific interactive functionality.

                      Column 1 - buttons to turn on the backlight of grid levels in any situation and at any time. Each grid is highlighted with its own color. It is also possible to highlight all grid levels at once in one color using a separate button in the header of this block.

                      Column 2 - arrows to highlight initial grid prices. When you click on the selected arrow on the chart, a special label appears on the initial price line (thus highlighting it). This shortcut can be moved along the line with the mouse, which can be very convenient in some trading modes.

                      Column 3 - the color of the inscription shows which method was used to select or generate the initial price for this grid. At the same time, the tooltip displays more detailed information about the specified settings related to the selection of the initial price.

                      Column 4 - the values of the specified initial prices become clickable if the mode of binding the initial price to current market levels is selected. Then these values turn into buttons and with their help you can adjust the display of additional graphics associated with this mode.

                      The video shows how it all works in practice:
                    #Alpha Grid MT5
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