---- Setting up the EA (Expert Advisor) ----
1. Installing the EA
Once you have purchased the EA, its name will appear in the "Navigator" window (in this case, "EA Homing Pigeon v1.23"). Download the set files from the EA's top page, extract them, and place them in the MQL4/presets/ folder.
2. Setting Up MT4 for EA Trading
After installing the EA, restart MT4. Go to "Tools" > "Options" and select the "Expert Advisors" tab. Make sure to check both "Allow automated trading" and "Allow DLL Imports (...)" options.
3. Opening a Chart
Find the currency pair in the "Market Watch" window, right-click on it, and select "Chart Window" to open the chart. Ensure that the timeframe is set correctly.
For example, open the EURGBP chart and set it to H1.
4. Launching the EA
Drag the EA name from the "Navigator" window onto the chart. Then, select the "Inputs" tab to open the settings menu. Click the "Load" button to navigate to the set files folder, and select the appropriate set file. Set values for "Fixed_volume" and "Magic Number," then press "OK".
Example: EA: RGBP_H1_Y4.set
A smiley face should appear in the upper right corner of your chart, indicating that the EA is running.
About the Flex Lot Parameter
When Order_Type is set to "Flex," the lot size is determined based on the account balance. For example:
- If the Minimum_balance_4_0.01lot parameter is set to 250 and your account balance is 500 USD, the lot size will be 0.02.
- If the parameter is set to 500 and your account balance is 500 USD, the lot size will be 0.01.
The table below is the reccomend risk management
| Low risk | medium risk | |
| AUDCAD | 250 | 125 |
| AUDJPY | 250 | 125 |
| AUDNZD | 250 | 125 |
| NZDUSD | 250 | 125 |
| USDJPY | 500 | 250 |
| AUDUSD | 500 | 250 |
| EURGBP | 500 | 250 |
| GBPNZD | 500 | 250 |
----Optimization of the Settings ----
Using the Strategy Tester, settings can be manually optimized.
1 Load the template file (template.set), select "Optimization," and press the "Start" button.
2 For the initial round of optimization, use the minimum conditions:
・Set the "Control points" mode.
・Use a short testing span (e.g., 1 year, from 2023 to 2024).
・Set the spread to 35 points.
3 After obtaining preliminary results, expand to a longer time span and adjust conditions for more detailed optimization, aiming for a high profit factor.
Key parameters for fine-tuning the set file include MA_period, Trigger, Trigger_enhancer, and mode. The SL, TP, and close_at_negative_profit parameters are not essential; they serve as safeguards in critical situations. In most cases, position closure is managed by the internal mechanism.
