EAs Manual: Setup and Customization

GENERAL SETUP

• Specify trading symbols — Lists all instruments or pairs the EA will operate on (multiple symbols separated by commas).
• Define main magic number — Unique identifier that differentiates this EA’s trades from others running on the same account.
• Specify order comment — Custom tag added to all orders for tracking and monitoring purposes.

WEEKEND CLOSING

• Define closing time on weekend (-1: off) — Automatically closes all trades at the selected time before the weekend; use -1 to disable.

NEWS FILTER SETTINGS

• Activate high impact news filter — Disables trading around major news events that can cause volatility spikes.
• Activate medium impact news filter — Suspends trading around moderate-impact economic releases.
• Activate low impact news filter — Adds filtering for lower-impact news events for extra safety.
• Define hours before news to avoid trading — Prevents new positions a set number of hours before a scheduled event.
• Define hours after news to avoid trading — Restricts trading for a defined period after the news release.

How to enable news filter in MT4/MT5

1. Go to Tools > Options (or press Ctrl + O ).
2. Select the Expert Advisors tab.
3. Tick Allow WebRequest for listed URL.
4. Add this URL: https://nfs.faireconomy.media and click OK.

DRAWDOWN CONTROL

• Define maximum drawdown limit to prevent new trades — Stops opening new trades when drawdown reaches this percentage threshold.
• Apply close on max drawdown — Automatically closes all open positions once the defined drawdown limit is exceeded.

EXTRA FILTERS AND EXECUTION SAFETY

• Quiet window near swap application (hours) — Avoids trading around swap rollover hours to reduce overnight risk.
• Avoid unrealistically tiny effective spread — Ensures spread calculations remain realistic by applying a minimum spread floor.

LOT AND RISK MANAGEMENT

• Set lot calculation method — Selects how the system determines lot size (fixed, balance-based, risk-based, etc.).
• Set risk percentage for each trade — Defines how much of the account balance is risked per position.
• Set fixed lot size — Assigns a constant lot size for all orders if not using dynamic risk management.
• Force risk — Overrides adaptive risk adjustments and applies fixed risk settings at all times.

TRADE LIMITATION SETTINGS

• Define maximum daily losing trade limit — Caps the number of losing trades allowed within a day.

DAILY SESSION CONTROL

• Set Monday to Friday start and end times — Allows specifying precise trading sessions per weekday by hour and minute (set “Disable” to skip).

TRADE CONTROL PARAMETERS

• Define maximum number of trades allowed — Limits how many open positions the EA can hold at once.
• Specify max spread for opening trades — Prevents entry when spread exceeds the set limit to maintain trade quality.

ORDER BEHAVIOR

• Toggle opening only one order per symbol — Restricts the EA to maintain just one active trade per symbol.
• Set minimum distance between trades (in points) — Ensures a minimum spacing between trades to prevent overtrading.

PROP FIRM RISK MODE

• Turn on prop firm risk mode (SL on every trade) — Forces every order to include a stop loss, ensuring compliance with prop firm risk management rules.