My Robots Guide

My Robots Guide

18 April 2024, 19:27
Esmaeil Rasouli Mohmmad Ali
2
893

Hello everyone, I'm Esmaeil and here I will explain the inputs and how to run the EA properly to get the most out of it so stay with me :)


There are 3 steps to run the EA properly : 

  1. the Chart you should run the EA on
  2. the URL you have to add for the News filter 
  3. set the correct risk and inputs

    now details:

    1. you have to run on Any chart but the timeframe should be H1 and you only have to run this EA once on one chart .


    when you attach it you have to enable two things to allow the Metatrader to run the robot and open trades:


    First check the box of "Allow Algo Trading " in the Common tab of the expert when you try to attach it to chart as shown below:



    Second Click on the "Algo Trading" button on top of your metatrader window and make it green as show below:




    After this the icon of the EA should be a smiley face on the Metatrader4 or a blue icon on metatrader5 like below:




    2.you have to add the https://nfs.faireconomy.media to the URL section so the EA can download the latest upcoming news. here is where you should add it:
    first click on Tools on top of the Metatrader window:




    then click on Options as shown in the picture below:




    then click on expert advisors tab and the check the box of "Allow WebRequest for listed URL" and then enter the address and click OK as shown below:




    3.here is the details of the inputs but i have to mention the default input is suitable for most traders , im running it on a default and a custom setfile on my signals ,i will attach the set file at the end of this article feel free to download it(the custom set file has the filter trading by RSI on and it has one more layer of protection)

    for the risk if you set the risk by percentage since the more risk you take you can have lower balance (because each broker has minimum lot):

    Minimum possible Risk% Balance
    1 1000 USD
    2 500  USD
    0.5 2000  USD
    5 200  USD

    Adjust general preferences: Section for configuring overall EA settings.
    • define trading symbols: Specifies currency pairs for trading, entered as a comma-separated list (e.g., "USDCAD,GBPUSD").and Do not enter any suffix or prefix only the raw symbol,robot will automatically detect suffix and prefix.
    • define main magic number: Sets a unique ID for trades opened by the EA to distinguish them from other EAs or manual trades.
    • define order comment: Adds a custom label to each trade, making it easier to identify in the trading history.
    Set up TP and SL parameters: Section dedicated to configuring Take Profit (TP) and Stop Loss (SL) parameters.
    • define manual stoploss in points: Allows specifying a custom stop loss in points; if set to -1, the stop loss may be disabled or automatically managed by the EA.
    • define manual takeprofit in points: Sets a manual take profit level in points; -1 likely indicates no manual TP, allowing the EA to manage it automatically.
    • determine extra stoploss points: Adds a specified number of points to the calculated stop loss, increasing its distance from the entry price.
    • determine extra takeprofit points: Adds a specified number of points to the calculated take profit, extending the profit target.
    Set up risk parameters: Section for configuring risk management settings.
    • define lot calculation method: Determines how the lot size will be calculated, such as based on account balance or risk percentage.
    • specify risk percentage for each trade: Sets the risk percentage per trade; higher percentages mean higher risk and potentially larger lot sizes.
    • define fixed lot size: Sets a specific lot size that the EA will use if not based on risk calculation.
    • define maximum lot size: Limits the largest lot size the EA can open for a single trade.
    • define minimum lot size: Sets the smallest possible lot size for trades opened by the EA.
    Customize signal preferences: Section for personalizing parameters that influence the EA’s trade signals.
    • specify maximum spread allowed for opening trades: Defines the highest spread acceptable to open trades, helping avoid high-cost trades.
    Personalize order options: Section to adjust order execution behavior.
    • turn on/off orders splitting into x orders with different TP levels: Enables splitting a single order into multiple orders, each with a unique TP.
    • define the number of orders to split the main order: Specifies how many separate orders the EA should create from a single order if splitting is enabled.
    Customize same order preferences: Section to fine-tune rules for orders on the same pair.
    • determine the minimum distance between trades of the same pair (in points): Sets a minimum distance, in points, required between two trades on the same symbol to avoid over trading.
    Set up trading hour parameters: Section for defining allowable trading hours.
    • define trading start time: Sets the start time for trading each day, formatted as "HH.MM"
    • define trading end time: Specifies the end time for trading each day, formatted as "HH.MM"

    Set up news filter parameters: Section to manage trading around news events.

    • activate high impact news filter: Enables a filter to prevent trading during times of high-impact news.
    • activate medium impact news filter: Turns on a filter to avoid trading around medium-impact news releases.
    • activate low impact news filter: Applies a filter for low-impact news events to reduce possible volatility.
    • avoid trading prior to news setting: Specifies the number of hours before news during which trading should be avoided.
    • define hours after news to avoid trading: Sets a post-news cool down period in hours, blocking new trades for this duration.
    Set up drawdown closing parameters: Section for configuring behavior based on drawdown levels.
    • define maximum drawdown limit to prevent new trades: Sets a drawdown percentage limit to stop new trades if the drawdown reaches this level.
    • apply closing all trades when maximum drawdown is reached: Enables automatic closure of all trades if the maximum drawdown limit is hit.
    Set up time-based closing parameters: Section to define specific times for closing trades.
    • define closing time on weekend(-1):Sets a time on Friday to close all trades, where -1 indicates this feature is disabled.
    Set up notification alerts: Section for configuring alert options.
    • activate sending notifications to mobile: Enables alerts to be sent to a linked mobile device for trade or market events.
    • engage pop-ups for alerts: Activates on-screen alerts (pop-ups) for real-time notifications within the platform.