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:
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- MT4 is old and outdated.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.
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.
- Any additional setfiles will be shared in our Telegram or MQL5 channels.
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
Here are detailed descriptions of the inputs:
Symbols for Trading: Define the list of symbols for the EA to trade, e.g., GBPCAD, AUDUSD.
Magic Number: A unique identifier for the EA’s trades. Ensure it differs from other EAs to avoid conflicts.
Order Comment: Optional. Add a comment to trades for better identification.
Lot Calculation Method: Choose between balance-based or fixed lot sizing.
Risk Percentage: Set the percentage of account balance to risk per trade.
Fixed Lot Size: Define a specific lot size for all trades.
High Impact News Filter: Enable this to avoid trading during high-impact news events.
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.
Max Drawdown Limit: Set a limit to prevent new trades when the drawdown exceeds this percentage.
Trailing Stop: Activate trailing stops and choose a trailing method, e.g., ATR-based or fixed pips.
Trailing Preferences:
Start in Pips: Set when the trailing stop activates.
Distance in Pips: Define how far the trailing stop is placed from the price.
ATR Period: Specify the ATR period used for trailing calculations.
ATR Multiplier: Adjust the sensitivity of the ATR-based trailing stop.