This is a professional “Risk Management Expert Advisor” specially designed to negotiate the NASDAQ Index in Accelerated My Forex Funds accounts.
Its trading logic is based on the “Peaks and Valleys” price action setup which aims for high risk/return targets with very small risk taking, looking for safe and realistic profit targets.
Below, I will show you and explain all of its parameters and functionalities (in order of appearence, from to top to bottom) using objective language and examples for better understanding.
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SECTION_MAGICNUMBER = ——-// DEFINE THE MAGICNUMBER //——
parameter MAGICMA = (7886 by deafult)
In this external parameter, the user must type the EA’s MagicNumber.
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SECTION_STOPLOSS_TAKEPROFIT = ——-// DEFINE SL, TP AND OTHER PARAMETERS //——
parameter Base_lot = (0.1 by default)
Lot size used as base for each x points on base_sl_calc parameter
parameter Base_sl_calculation = (100.0 by default)
Distance in points as base for lot size calculation
So, what these two parameters do is working togheter in order to define the order’s lot size based on a ratio. If the Base_sl_calculation is increased, the lot size is expected to be greater too.
For better visualization, check the images below:
parameter Max_sl_points = (300.0 by default)
Maximum distance allowed for stop loss. If the price action informs a longer stoploss in points, the EA will ignore it and set as the Max_sl_points.
parameter Min_sl_points = (150.0 by default);
Minimum distance allowed for stop loss. If the price action informs a shorter stoploss in points, the EA will ignore it and set as the Min_sl_points.
parameter Max_candles_pend_orders = (12 by default)
Max amount of open candles in pending order
parameter Tp_sl_multiplier = (7 by default)
Risk/return desired for take profit based on stop loss distance in points
parameter Max_slippage = (7 by default);
Max slippage allowed in points
parameter Max_spread_allowed = (15 by default)
Max spread allowed in points
parameter Max_cons_daily_loss_filter = (false by default)
Enable or disable maximum consecutive daily losses filter
parameter Max_consec_daily_losses = (3 by default)
Define maximum consecutive daily losses
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SECTION_AVERAGE_FILTER = ——-// DEFINE AVERAGE FILTER FOR THE SETUP //——
parameter Average_filter = (true by default)
Enable or disable average filter
parameter ENUM_MA_METHOD Average_Method = (MODE_EMA by default)
Choose the Moving Average’s method
Average_period = (9 by default)
Set moving average’s period
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SECTION_INCREMENTAL_LOT_FUNCTION = ——-// BELOW, PARAMETERS FOR INCREMENTAL LOT FUNCTION //——
parameter Increment_Lot = (0.1 by default)
Lot added in case of loss.
parameter Max_Loss_Counter_Inc = (24 by default)
Limit of levels allowed for Incremental Lot Addition
parameter Max_Lot_Opened = (50.0 by default)
Max lot size allowed
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SECTION_MAXLOSS_MODE_DEFINITION = ——-// BELOW, PARAMETERS FOR DEFINING MAX LOSS ALLOWED //——
parameter Max_Loss_Mode = (0 – Off by default) , 1 – Nominal, 2 – Percentage
By default, the EA works with no restriction for Maximum Loss
parameter Loss_target = (1915.00 by default)
This parameter is used only when the “Nominal” mode is chosen for the Max_Loss_Mode. If the Account’s Equity or Balance is below this value, the EA stops trading.
parameter Percentage_balance_loss = (4.8 by default)
This parameter is used only when the “Percentage” mode is chosen for the Max_Loss_Mode. If the Account’s Equity or Balance is below this value in percentage of the original balance, the EA stops trading.
parameter Initial_balance_loss = (2000.00 by default)
Value of balance for max loss percentage calculation
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SECTION_PREVENT_DRAWDOWN = ——-// FUNCTION TO PREVENT LARGE DRAWDOWN //——
parameter General_initial_balance = (2000.0 by default)
Initial balance used for the Prevent Drawdown function
parameter Offset_balance_profit = (10.0 by default)
“Extra” value added to general_initial_balance to protect against slippage, terminal malfunction, lagging, low latency or slow connection
parameter Balance_prevent_actions = (1 – HalfLotSize by default), 0 – Off, 2 – DoubleLotSize
The user chooses which action the EA will do when the current balance is below the next two parameters.
parameter Balance_first_value_prevent = (1990.0 by default)
Below this, prevent actions are taken to recover initial balance which will be the one chosen on the parameter “Balance_prevent_actions”.]
So, for example, if the current balance is below 1990.0 and the action chosen is “HalfLotSize”, the EA will open half of the calculated lot size. When the current balance reachs again the “General_initial_balance”, the lot size will be the “normal” size again.
paramater Balance_second_value_prevent = (1960.0 by default)
Below this, prevent actions are taken to recover back the “Balance_first_value_prevent”. The actions will be always by cutting the current lot size in half.
So, if the original lot size would be 0.2, after the balance going below the first stage of balance protection, the lot size would be cut in half to 0.1, then if the balance keeps going down below this secound stage, the lot would be cut in half again to 0.05, if the user has chosen the “HalfLotSize” action.
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SECTION_PROTECTION_SECTION = ——-// SET BREAKEVEN LEVELS OR TRAILING STOP OR NEITHER //——
parameter Profit_Protection = (1 – BreakevenOn by default), 0 – NoBreakevenNoTrailingStop, 2 – Trailing Stop
BREAKEVEN_DEFINITION = “——-// SET BREAKEVEN LEVELS PARAMETERS //——“;
parameter Be_tolerance_points = (60.0 by default)
Value in points the price must close in favor to reset the loss counter.This means that if the price reverts and touches a Breakeven level, if that Breakeven is below 60 points after the entry price (according to the example above), the “loss counter” returns to zero, resets, and thus the calculation of the lot as well. Otherwise, if the price reaches the Breakeven level below 60 points, the EA will continue to maintain the same current level of “loss count”, so as not to reset the lot.
parameter Perc_gain_1_activation = (30.0 by default)
Percentage in favor of profit to activate 1° step_gain
parameter Perc_gain_2_activation = (80.0 by default)
Percentage in favor of profit to activate 2° step_gain
parameter Perc_gain_1_be = (3.0 by default)
Desired percentage of gain for the 1° level of BE
parameter Perc_gain_2_be = (40.0 by default)
Desired percentage of gain for the 2° level of BE
TRAILING_STOP_DEFINITION = “——-// SET TRAILING STOP PARAMETERS //——“;
parameter Threshold_points = (350.0 by default)
The amount of points price must go towards profit to activate the Trailing Stop operation
parameter Trail_points = (150.0 by default)
The amount of points set for the Trail of the Trailing Stop function
parameter Step_points = (150.0 by default)
The amount of points set for the Step of the Trailing Stop function
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SECTION_WORKING_TIME = ——-// DEFINE THE TIME INTERVAL FOR WORKING AND ORDERS OPENING //——
parameter Time_filter = (false by default)
Enable (true) or disable (false) time filter
parameter Initial_order_hour = (1 by default)
Initial hour for order opening
parameter Final_order_hour = (21 by default)
Final hour for order opening
//—— CLOSE_FRIDAY = ——-// DEFINE THE ‘CLOSE ALL TRADES AT FRIDAY’ FUNCTION //——
parameter Close_friday = (true by default)
Enable (true) or disable (false) close all trades friday function
parameter Max_friday_hour = (18 by default)
After this hour all trades are closed in friday. No matter if in profit or in loss.
parameter Close_only_if_profit = (true by default)
Enable (true) or disable (false) this function which works this way: If it is Friday and there is an open order with a loss, the EA will not close this order immediately until the time is greater than that defined in the “Max_friday_hour” parameter. Thus, if this order in our example turns a profit, and the current time is equal to or greater than that defined in the parameter “After_hour_profit_closes” , then yes, the EA will close the order before “Max_friday_hour”.
If, on the other hand, that order was already in profit and the time is equal to or greater than “After_hour_profit_closes”, in this case the EA will close that order with the profit it is showing. This function aims to ensure that on Friday the user can collect some profit before “Max_friday_hour”.
parameter After_hour_profit_closes = (16 by default)
If it’s friday and after this hour, the order in profit is closed
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SECTION_MONTHLY_GAIN_TARGET = ——-// DEFINE PERCENTAGE OF MONTHLY GAIN //——
parameter Seek_monthly_target = (false by default)
Seek monthly percentage or not
parameter Monthly_gain_perc = (2.5 by default)
Monthly percentage to be achieved
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SECTION_NEWS_FILTER = ——-// NEWS FILTER PARAMETERS //——
parameter News_filter_on = (false by default)
Enable (true) or disable (false) the news filter
parameter NoTradeAfterNews = (30 by default)
No trade x minutes after news
parameter NoTradeBeforeNews = (30 by default)
No trade x minutes before news
parameter NewsLight = (false by default)
Enable (true) or disable (false) light news filter
parameter NewsMedium = (false by default)
Enable (true) or disable (false) medium news filter
parameter NewsHard = (false by default)
Enable (true) or disable (false) hard news filter
parameter Your_Time_Zone_GMT = (3 by default)
Your Time Zone, GMT (for news)
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SECTION_SEND_NOTIFICATION = ——-// ENABLE OR DISABLE NOTIFICATIONS ON TRADES //——
parameter Notification_Options = (0 – NoNotifications by default), 1 – OrdersAndResults, 2 – OrdersOnly, 3 – ResultsOnly
When you decide you want to be notified only about Orders, it means you don’t want to be notified, for example, about the EA achieving a “result” like hitting the monthly gain.
If you choose “OrdersOnly,” every time the EA opens an order or when an order is closed with a positive or negative result, the EA will send a notification to the MQL app. Otherwise, if you want to be notified when the monthly target is hit, when the profit target is hit, when the maximum loss is hit, or even when the EA is removed for safety, then Results should be chosen.
The best practice is to set this parameter to “Orders and Results.” This way, you will be aware of both situations.
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