Guide to Configuring and Understanding EA Input Settings
How Can I Join Telegram Channel?
Please ask me in a private MQL5 chat, and I will send you the link.
The best setfile is the default. However, you can optimize it or find the best setfile suited to your broker. If there are additional setfiles, they will be shared in our channels.
How to Run EA on Chart
You can find full details in the blog below:
https://www.mql5.com/en/blogs/post/751762
One chart is all you need for the EA to function. It will automatically identify the correct symbol and timeframe for trading.
To trade on other symbols, go to the inputs section and add the base name of the symbol, leaving out any suffixes or prefixes.
How to Backtest the EA:
Backtesting on MT4 comes with limitations, as it only allows testing one symbol at a time. Ensure you remove extra symbols from the inputs and run the test on "every tick."
For multi-symbol support and better accuracy, switch to MT5.
How Can I Join MQL5 Channel?
You can find the link directly below:
https://www.mql5.com/en/channels/forexautomoneymaker
What Risk and Deposit Should I Use?
The minimum deposit can be anything, but I recommend a risk level of 1% or 2% for safer trading.
How Can I Ask for New Options and Inputs?
You can contact me through MQL5 message chat. I am always open to feedback and suggestions.
Inputs Details Set Up General Options
main setup
Trading symbols setup: defines the list of currency pairs the EA is allowed to trade
Define main magic number: sets a unique identifier used to distinguish the EA’s trades from others
Order comment setup: optional text label to be attached to each order for clarity and tracking
risk block
Define lot calculation method: selects how position size is determined — options include fixed, low risk, balance-based, etc.
timed trade logic
Define closing time on weekend (-1: off): sets a specific hour to close trades on Friday before the market closes; use -1 to disable this feature
drawdown exit
Define maximum drawdown limit to prevent new trades: restricts further trade entries when equity drawdown exceeds this percentage
Toggle close on max drawdown: enables automatic closure of all open positions once drawdown threshold is reached
trailing system
Activate trailing stop feature: enables the trailing stop functionality to dynamically secure profits
Define trailing stop method: chooses the approach used to calculate and manage trailing stops (e.g., ATR-based)
Remove TP when trailing stop starts: removes the fixed take profit level when trailing becomes active
Activate partial close and trailing: allows partial profit-taking followed by trailing on the remainder
Define lot percentage to close at trailing start: percentage of trade volume to close immediately once trailing is triggered
Define start of trailing in pips: distance the price must move in profit before trailing is applied
Define distance for trailing in pips: how far behind the price the trailing stop will follow
Define step for trailing in pips: the step interval at which the trailing stop adjusts
Define period of ATR for trailing: sets the number of bars used to compute the Average True Range
Define timeframe of ATR for trailing: selects which chart timeframe to use for ATR calculation
Define multiplier for ATR trailing: multiplies the ATR value to adjust the trailing stop dynamically
manage duplicate orders
Turn on/off opening only one order per symbol: limits the EA to a single open trade per currency pair
Set min distance between trades (in points): defines the required spacing between individual trade entries on the same symbol
How to Update the EA When Update Is Available
You can find full details in the blog below:
https://www.mql5.com/en/blogs/post/757291
