How to Run the EA on a Chart
The EA is designed to run on any symbol and any timeframe. It automatically detects the appropriate parameters for the chart it's attached to, so there's no need for manual configuration.
For General details, refer to the blog post:
https://www.mql5.com/en/blogs/post/745691
Backtest
For the most reliable results, I recommend backtesting on MT5.
MT4 backtests are not reliable because:
- MT4 is old and outdated.
- It lacks the "Every Tick Based on Real Ticks" option.
- It can only run backtests for one symbol at a time, requiring you to test each symbol in the input list separately.
- For better accuracy and a modern approach, switch to MT5 for your testing.
- M5 supports multi-symbol testing, and for optimal results, make sure to run it on "Every Tick Based on Real Ticks."
Changing Symbols of Trade
To change the trading symbols:
- Modify the list of symbols in the Inputs section of the EA.
- There’s no need to include any suffixes or prefixes, as the EA automatically detects them.
- For example, if your broker's symbol is EURUSD.m, simply enter EURUSD
Running the EA Alongside Other EAs
The EA can run alongside other EAs without issues as long as you assign a unique Magic Number for each EA. This ensures their trades are tracked separately and avoid interference.
How to Update the EA
When an update is available for the EA, follow the steps outlined in this blog post for detailed instructions:
How to Join the Telegram Channel
To join the Telegram channel, send me a private message in the MQL5 chat, and I will provide you with the link.
How to Join the MQL5 Channel
The link to join the MQL5 channel is as follows:https://www.mql5.com/en/channels/saratradingeas
What is the Best Setfile?
The default settings are optimized and are the best starting point.
However:
- You can optimize the EA or create a setfile tailored to your broker's conditions.
- an additional setfile for Martingale can be found at end of the blog post.
What Risk and Deposit Should I Use?
While the EA can run on any deposit size, I recommend keeping the risk per trade between 1% and 2% for optimal safety and growth. Adjust this based on your trading goals and risk tolerance.
Inputs Details
General Settings
Symbols to Trade: Defines the currency pairs to trade.
Main Magic Number: Sets the unique identifier for the EA's orders.
Order Comment: Allows for custom comments on trades.
Lot Management and Calculation
Lot Calculation Method: Defines how the lot size will be calculated (fixed lot, balance-based, etc.).
Trade Risk Percentage: Specifies the risk percentage for each trade.
Fixed Lot Size: Sets a fixed lot size for trading.
Lot Decrease Percentage: Determines the percentage by which the lot size decreases after a loss.
News Impact Filters
High Impact News Filter: Enables/disables trading during high-impact news events.
Medium Impact News Filter: Enables/disables trading during medium-impact news events.
Low Impact News Filter: Enables/disables trading during low-impact news events.
Avoid Trading Hours Before News: Specifies how many hours before news to stop trading.
Avoid Trading Hours After News: Specifies how many hours after news to resume trading.
How to enable news filter in MT4/MT5
Go to MT4/MT5 and click tools>Options (or press ctrl+o) to open options of your MT4/MT5 terminal.
Go to the "Expert Advisors" tab.
Tick the checkbox for "Allow WebRequest for listed URL".
Add this URL https://nfs.faireconomy.media and click OK.
Martingale Settings
Martingale Enabled: Toggles the martingale system on/off.
Martingale Start Method: Defines the method for setting martingale distances (e.g., ATR, fixed distance, etc.).
Martingale Take Profit Type: Determines how to calculate take profit for martingale orders (e.g., average, last price).
Martingale TP Percentage of Distance: Specifies the percentage of distance between the new and last martingale orders to set TP.
Martingale Fixed Pips Distance: Sets the fixed pip distance between martingale orders.
Martingale MA Length: Specifies the moving average period used for martingale calculations.
MA Method for Martingale: Chooses the type of moving average (e.g., SMA).
Martingale MA Timeframe: Defines the timeframe for the moving average used in martingale.
Martingale ATR Period: Sets the ATR window period for martingale.
ATR Multiplier for Martingale: Determines the multiplier applied to the ATR for calculating martingale distances.
Profit Type for Martingale: Specifies how profit is calculated (e.g., USD, percentage of balance).
Martingale Profit in USD: Sets a target profit in USD for martingale.
Martingale Profit Percentage: Sets a target profit as a percentage of the account balance.
