Getting Started with our EAs

Getting Started with our EAs

4 December 2024, 17:48
Shazdeh Taghi Mahmoudi
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Getting Started with the EA

How to Attach the EA to a Chart

To begin using the EA, simply attach it to any chart. The EA is pre-configured to handle trades on the defined symbols and automatically adapts to the chart's timeframe and conditions.
For detailed guidance, check out this blog post:
https://www.mql5.com/en/blogs/post/751036


Updating Your EA

Stay up-to-date with the latest EA version for the best performance. When an update is released, follow the steps outlined in this blog:
https://www.mql5.com/en/blogs/post/729017



Backtesting Tips

For accurate results, it’s best to use MT5 for backtesting. While MT4 can work, it has significant limitations:

  • MT4 lacks modern options like "Every Tick Based on Real Ticks."
  • Backtesting on MT4 is restricted to a single symbol at a time, making it tedious for strategies involving multiple pairs.
    Switching to MT5 ensures you get reliable and comprehensive backtest data.

Customizing Trading Symbols

To trade different symbols:

  • Go to the Inputs section of the EA.
  • Enter the desired symbols (e.g., AUDJPY ) without suffixes or prefixes.
    For instance, if your broker uses AUDJPY.f , only input AUDJPY .

Using the EA with Other Systems

The EA is compatible with other Expert Advisors on the same platform. To ensure no overlap:

  • Assign a unique Magic Number for each EA.
    This prevents any conflicts between their trades.



Joining Telegram and MQL5 Channels


Tips:

  • The default settings are designed for optimal performance.  
  • The minimum deposit amount is flexible, but I recommend risking no more than 3% per trade. Adjust this based on your strategy and risk appetite.
  • I value user feedback and welcome suggestions for new features or inputs. Feel free to message me directly on MQL5, and I’ll consider implementing your ideas.


Inputs Explanation

basics

All symbols to trade: defines the specific trading pairs the EA should execute trades on; separate them using commas

Magic number: this numerical ID helps distinguish this EA’s trades from others on the same account

Define commentary for EA orders: allows you to assign a custom note to each trade, aiding in monitoring and reporting


risk setup

Choose lot calculation method: sets the strategy for determining lot size — either dynamic (like balance-based) or fixed

Trades risk percent: specifies the percentage of the account's value to risk per trade when using dynamic sizing

Fixed lot size setup: used to enforce a consistent lot size regardless of balance or market volatility


dd close logic

Not open orders after max drawdown: disables new trade entries when the equity drawdown exceeds the defined threshold

Activate drawdown close feature: if enabled, the EA will close all active positions once the maximum drawdown level is reached