Erratic EA is designed to trade on multiple charts at a time, it trades with the trend and attempts to take advantage of post volatile movement. Erratic has been universally designed with uploaded past news for the listed major currency pairs, for the market conditions from 2015 to present.
It is recommended to start with a minimum of $3,000 balance and max charts set at 1 with this EA. Be sure to use the manual GMT offset when backtesting.
News pause for both backtesting and live trading is uploaded by checking "Allow WebRequest" and placing https://www.mql5.com into the Expert Advisors section under Tools - Options. When the EA is running on multiple pairs, the MAGIC number stays the same.
There are 3 built in take profit closing structures: Standard hard tp, closing at balance percent, and equity trail lock. Having 3 exiting structures in place helps to reduce risk.
Pairs and Timeframes
The default settings are optimized for EURUSD, USDCHF, and AUDUSD. The set files for additional pairs can be found in the comments section, or you may inquire the optimized settings for the additional pairs.
- The timeframe to use for the default settings is 4hr.
- FirstCandleMinPips - The first stage of the EA's entry criteria is reading how large of a candle that is in this input first. Example 200 pip candlestick.
- FirstCandleUseShadow - This means that the EA will include the entire range of the bar, not just the open to close range.
- SecondCandleContPips - The minimum size of the second candlestick after the first that needs to be met before a trade can open.
- Bar Index - The number of bars after the first 2 candles that met criteria that a trade will open.
- Bar Index for FF Indicator - The number of bars that need to pass the criteria set in the Forex Freedom indicator.
- ReverseMode - True/False. When on True, the EA will open a sell where a buy would normally open and vice versa.
- PercentBalanceTP - The percent of open profit that a the EA will close at in relation to balance amount.
- PipsTp - Take Profit Line in pips.
- PercentBalanceSL - The percent of balance drawdown that is allowed before closing all open positions.
- PipsSL - Stop Loss line in pips.
- Fixed Lot True/False - If False, Money Management will be on.
- Fixed Lot size -.01+
- LotPercentBalance - the amount of Money Management for trades size.
- LotZeroSLper1000 - here you enter.10 for every $1,000 balance for trade size calculation.
- Max Buys - the total number of open buys on a single chart at one time.
- Max Sells - the total number of open sells on a single chart at one time.
- BothDirections - True/False. When True, the EA will open both buys and sells if the criteria is met.
- PipDistanceBuySell - the number of pips between counter buys/sells.
- Martin_multiplier - the multiplier amount for counter trades.
- ProfitTrailStart - The dollar amount at which point the ProfitTrailStop number will activate.
- ProfitTrailStop - The dollar amount at which point the ProfitTrailStart number was hit and falls back down to close.
- CloseMinutesBeforeMarketCloses- The number of minutes before the market closes that the EA will close all open positions.
- MiniumTimeBetweenTrades- the number of minutes before a counter trade can open.
- MaxCharts - the maximum number of charts that trades can open on at a time. 1 chart low risk, 2 charts moderate risk, 3 charts high risk.
- useAllTicks - When True, The EA considers all ticks in it's calculation.
- Max Spread - The highest amount in spread that a trade can open on.
- Slippage - The maximum amount of slippage allowed that a trade can open on.
- MAGIC - This number stays the same when using this EA on multiple charts at a time.
- GMT Offset - The input allows the user to change the broker time offset to match the GMT.
- News Pause inputs (low, medium, and high) - allow the user to change the amount of time before and after news that the EA will pause opening new trades.
- Only the currencies of symbol - When ON, the news will only be applied to the pair of that chart.
- Draw lines on the chart - When ON, the news lines will show up on the chart in colors.
- Forex Freedom - This section is for the settings of the Forex Freedom indicator.