The principle goal of this weblog is to explain and clarify the enter parameters of my Momentum Skilled Advisor for MT5. The advisable utilization of this EA is to commerce currencies on bigger actions because of central financial institution occasions (sometimes rate of interest selections). It may be used although on different medium and excessive influence information as properly.
That is an out-of-the-box product which can usually not be modified based mostly on request from a single buyer. Please subsequently first learn this weblog to the top and/or obtain a demo and take a look at the EA within the technique tester with a view to perceive what it may and can’t do.
At any time when there may be an accessible replace of the EA I like to recommend you to attend with updating till all open positions by the EA have been closed. You may replace it with out eradicating the earlier model from the chart. Earlier than updating I additionally recomend to show off Algo Buying and selling and after the replace please management that the enter parameters haven’t modified on every chart the place the EA is loaded. Then you possibly can activate Algo Buying and selling once more.
Backtest with information information and proper GMT offset
If you’ll not use the Auto settings then I strongly suggest you to do your individual backtesting and advantageous tuning within the technique tester earlier than beginning to commerce on a reside account. For backtesting H1 time-frame ought to be used. It’s sufficient utilizing ‘1 minute OHLC’ modelling for the reason that EA will deal with occasions solely on opening of a brand new M1 candle. That is legitimate additionally for setting trailing cease and break even. I like to recommend setting an execution delay of 150 ms to simulate slippage.
The information supply used is the Metatrader Calendar. Please make it possible for your VPS has the proper time, else it’d result in MT5 exhibiting the incorrect GMT time. Simply verify with the MT5 calendar if the following information occasion that’s exhibiting on the chart has the proper GMT time.
Observe these steps to do a backtest with information filter from historic information occasions.
- Ensure you know the GMT offset of the historic chart information you bought in your MT5 terminal. In case you are undecided, greatest take a look at the latests huge information, which precipitated a breakout on the chart and verify the time with the MT5 calendar in GMT format.
- When putting in the EA the primary time the information file ‘newshistory.bin’ will likely be created within the folder Metratrader widespread folder. It will depend on your person title and is normally situated in C:UsersYOUR_USER_NAMEAppDataRoamingMetaQuotesTerminalCommonFilesnews. In some cased the file could be empty (dimension is 0 bytes). In that case please delete the file change the worth in an enter parameter within the EA. That ought to do the trick.
- Run the backtest in Visible mode and verify on the chart whether or not the following occasions are printed within the higher left nook of the chart.
Enter parameters
- GENERAL SETTINGS
- EA mode – Record field with the next choices:
- Commerce usually
- Pause EA – Will pause the EA. No new oders or modifying of present orders (trailing cease and many others.).
- Multi image mode in tester – If set to True then the all symbols given within the ‘Symbols to commerce’ enter parameter will likely be examined.
- Begin date for information in tester (file) – Will create the information file for again testing beginning with information from this date. If you understand that you’ll again take a look at from 2020.01.01 then to get higher efficiency you must delete the file and set this date as an alternative of the default 2015.01.01.
- Symbols to commerce – Every image have to be separated with a comma (,). For buying and selling solely the Margin curreny (the primary foreign money) the image title have to be adopted by by -1. For example USDCHF-1, which signifies that solely USD occasions will likely be traded. For buying and selling solely the Revenue curreny (the second foreign money) the image title have to be adopted by by -2. For example USDJPY-2.
- Use auto settings –
- GENERAL TRADING FILTERS
- Open purchase order – True or False.
- Open promote order – True or False.
- Permit pending orders for reversal indicators – If set to True (default) then a pending order (purchase or promote cease) will likely be positioned in the wrong way and near the cease loss.
- Permit greater than 1 pending order in similar path – It may be doable with a number of cease orders in case an order shortly hits break even and a brand new order is opened in the identical path as a consequence of a constant sign.
- Most allowed unfold in factors (0 = disabled) – Might be set to keep away from taking trades with to excessive unfold after a information releases. The default settings is 50, which is appropriate for a low unfold dealer.
- Most allowed slippage in factors (0=disabled) – Please notice that not all brokers/account sorts assist slippage management.
- TIME FILTERS
- NY shut dealer (GMT+2 winter, +3 summer time, US DST) – True or False. If set to True then the two following inputs do not must be set.
- GMT handbook winter offset – In case you need to set the GMT offset manually your self. Remember that on most brokers the GMT offset will change twice a yr due to daylight saving time.
- Dealer Daylight Saving Time (DST) – Record field with the next choices:
- Weekdays to commerce [1-Mon..7-Sun] – In case you for example would really like the EA to commerce each weekday besides Friday the the worth have to be set to 1234.
- Friday cease commerce time (-1=disabled)
- Friday shut time (-1=disabled) – To keep away from conserving open positions over the weekend.
- NEWS SETTINGS
- Occasion kind – Record field with the next choices:
- Financial institution occasions
- Different occasions
- Each
- Financial institution occasions (influence=excessive, sector=cash) – Record of financial institution occasions. Should be comma separated. Might be put with decrease or higher characters.
- Different occasions (influence=excessive,medium)
- Checking begin minute [0-8] –
- Checking finish minute [4-30] –
- Set off scale issue [0.24-0.48] –
- Set off scale issue for extra order (0=disabled) –
- Minutes to attend for addtional order [15-240] –
- RISK MANAGEMENT (ranges are in factors) – I can’t set the chance for you, please think about your self what danger you’re prepared to take, specifically contemplating your account leverage.
- Lot calculating technique – Record field with the next choices:
- Mounted lot
- Fairness step
- Danger %
- Mounted lot dimension or lot increment step – Mounted lot or how a lot the lot dimension ought to be elevated each Lot increment fairness step (if Lot calculating technique = Fairness step).
- Lot increment fairness step – 0.01 heaps per 400 EUR steadiness is appears to be a good worth in accordance with backtest. The backtest from 2015.01.01 resulted in a 7% steadiness drawdown and a15% fairness drawdown with this setting.
- Danger in proportion – Used if Lot calculating technique = Danger %. If set to 1% then with 6 concurrent orders you danger 6% of your account steadiness.
- Max. open positions (0=disabled) – Set to for example 6 and you’ll by no means danger that the EA may have greater than 6 energetic trades. Necessary to know is that you’re utilizing Danger % and have set it to for example 1% then with 6 trades your doubtlessly risking 6% in case the entire positions ought to hit cease loss.
- Cease buying and selling when Fairness decreased (0=disabled) – is not going to open any new orders if the fairness is decreased by this quantity. In case you put for example 1000 and your present steadiness is 4000 then the EA is not going to open new trades in case your fairness goes beneath 3000.
- Cease buying and selling when Free margin beneath (0=disabled) – is not going to open any new orders if the free margin goes beneath this quantity.
- Max allowed steadiness drawdown % (100=disabled)
- Orders with this Magic quantity (0=all) – With the default worth (67) the EA will solely verify open order the place the Magic quantity begins with 67. So in case you have different EAs operating with open orders then they won’t be considered.
- Shut orders – If set to True then all orders, the place the magic quantity begins with the worth you’ve got set above, will likely be closed instantly when the max worth has been reached.
- POSITION MANAGEMENT (ranges are in factors)
- Cease loss scale issue [0.2-0.45]
- Trailing cease scale issue [0.25-0.9]
- Trailing step (<0 = minutes, >0 = factors)
- Break even set off scale issue [0.06-0.24] (0=BE disabled)
- Multiplier for Set off/SL/TS/BE [0.66-1.34] – This parameter is for a fast manner of diversification. It is going to scale the cease loss, break even, trailing cease and entry set off parameters by the multiplier specified. For instance, as an alternative of operating one set with 0.03 heaps, you possibly can run 3 units with 0.01 heaps and scale elements 0.8, 1.0 and 1.2. This fashion your entries and exits will likely be barely completely different on every set.
- OBJECTS
- Information panel auto colours
- Information panel background colour
- Information panel border colour
- Information panel caption colour
- Information panel textual content colour
- Information panel consideration colour
- Information panel font dimension
- EA SETTINGS
- Magic quantity – Ought to be completely different should you for some cause have the EA operating on a number of chart with overlapping symbols.
- Order remark
