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Magic EA MT4

3
Magic EA is an Expert Advisor based on Scalping, Elliot Waves and with filters such as RSI, Stochastic and 3 other strategies managed and decided with the robot smartly. Large number of inputs and settings are tested and optimized and embedded in the program thus inputs are limited and very simple. Using EA doesn't need any professional information or Forex Trading Knowledge. EA can trade on all symbols and all time frames, using special and unique strategies developed by the author.


The EA works with low margin levels.


Using EA :


The EA is very simple and without complicated input parameters.

These are main parameters must be set :

  • General Options
  • Time Frame : Time frame for trading.
  • Trade Type : Long/Short/Both/No-Hedge
  • Stop Trading : if true, EA don't open a new position. Only manage already opened.
  • Minimum Distance to Open New Position : Distance to ignore new signals if older positions exist.
  • Maximum Spread to Open Position : Spread to stop trading
  • Magic Number : Any constant ID.
  • Show Panel On Chart : Shows report of positions on chart with the option of manual closing them.
  • Closing Positions
  • Take Profit : TakeProfit in Points
  • Action for in-Loss Positions : Averaging-Add,Averaging-Multiply, StopLoss, WaitforTP
  • Stop Loss : StopLoss in Points. Only act if the StopLoss option selected above.
  • Averaging Distance : Distance in Points to insert averaging position. Only acts if the Averaging option selected above.
  • Averaging Volume Multiplier : Volume multiplier if averaging selecting above.
  • Averaging Volume Add : Volume adding if averaging selecting above.
  • Averaging Maximum Volume Per Trade
  • Averaging Maximum Number of Trades
  • Volume Settings
  • Volume Calculation Method : Fixed, Dynamic Lots or Risk Percent based on Balance/Equity/Free Margin
  • Fixed Lots : Volume of trading
  • Lots Per 1000 : Volume per 1000 Balance/Equity/Free Margin
  • Risk Percentage
  • Maximum Volume Per Trade
  • Minimum Volume Per Trade
  • Trailing/Break Even
  • Trailing Stop Loss : Enable/Disable Trailing Stop
  • Trailing Start : Trailing Start Distance in Points.
  • Trailing Stop : Trailing Stop Loss Distance in Points.
  • Trailing Step : Distance to apply Trailing Stop Loss in Points.
  • Break Even : Enable/Disable Break Even
  • Activate Break Even After Loss : Distance to apply Break Even in Points
  • Day and Time Filters
  • There are options to stop trading on specific days and hours
  • News Filter Inputs
  • Block Trading During Low Impact News
  • Minutes Before/After Low Impact News
  • Block Trading During Medium Impact News
  • Minutes Before/After Medium Impact News
  • Block Trading During High Impact News
  • Minutes Before/After High Impact News
  • Notifications


* All above default point inputs are for 5digit accounts. if your account is 4digit use 0.1x numbers.


Optimizing EA :


(important) Optimize EA for the last 6 month before using, and update optimization every 1-2 month.

There is no any parameter to optimize EA signal engine. The only parameters are user money management inputs.

Optimization of EA is so fast and easy. We recommend these Optimization inputs :

  • Load all Default Values
  • Test with Every Tick Based on Real Ticks
  • Time Frame Bounds : M5 to D1
  • Take Profit Bounds : 100 to 1000 step 100 (10 to 100 step 10 for 4digit accounts)
  • Averaging Distance Bounds : 500 to 8000 step 500 (50 to 800 step 50 for 4digit accounts)
  • Averaging Volume Multiplier  Bounds : 1 to 5 step 0.5

It is strongly recommended to optimize EA based on the example demonstrated in the video.


 
Recommendations and Using Conditions :

  • You can run EA on several charts and symbols. Try to use different Magic Number input for each chart.
  • If you attach EA to multiple charts, decrease volumes to reduce your risk.
  • To enable News Filter, Visit How to Setup News Filter.

We are ready to help you for using the EA, Please don't hesitate to contact us.
Visit our other useful utilities, Indicators and experts here.




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Filter:
Johan Ferdianto
135
Johan Ferdianto 2021.04.16 10:29 
 

Good enough for martingale EA. The problem is if EA produces the wrong signal many times it will break the account. I think the basket system can improve this EA. For example, the position of Buy and Sell has the same profit goal. Or this EA can run on multiple symbols and target profit using the basket system, so it can reduce the risk when the EA makes too many wrong signals in other symbol, another symbol will help to reach the target profit.

Kyra Nickaline Watson-gordon
30894
Reply from developer Kyra Nickaline Watson-gordon 2021.04.16 10:59
You are using aggressive setting. It is better to determine volume and averaging setting based on your account balance.
Of course you can use EA on multiple symbols and profit of one symbol cover loss of another symbol.
Reply to review
Version 1.3 2022.02.18
Update due to change of news address from http to https
Change the address of webrequest on terminal settings to https://ec.forexprostools.com/
Version 1.2 2022.02.05
Added compatibility with FIFO Rules + Some other minor updates.
Version 1.1 2021.10.04
Optimized Speed of Strategy Tester