forex software

Create and Test Forex Strategies

forex software

eas-guide:expert-properties

Table of Contents

Expert Properties

Expert Properties

Expert Properties is the first information box of the Expert Advisor Layout just above the Entry rules section. The box shows information about the trading amount, the Stop Loss, and the Take Profit of the Expert Advisor.

When you click on the box the Expert Properties panel appears on the left hand side. There you can change the settings of the expert.

When the Expert Properties panel is open, you cannot edit the other parts of the expert. You have to close the panel first.

There are two control buttons:

The Cancel button cancels all settings you have made and leaves the expert unchanged. The Accept button applies your settings to the expert. EA Studio recalculates the expert immediately and shows the corresponding stats and charts.

Entry lots

You set the trading amount in lots. The real currency amount depends on the number you set and the lot size of the symbol. For example, if the lot size of your broker for that symbol is 100 000 and you use Entry lots = 0.1, EA Studio will open position of 10 000.

Protections

EA Studio protects the open positions by using Stop Loss and Take Profit. The protections options can be switched on and off. When they are enabled, the backtesting algorithm of the program will use the numeric values you set. The same values are also used in the exported Expert Advisors.

Stop Loss is a protection to the strategy in a case when the market goes against our position. It is placed always below a long position or above a short position.

Take Profit closes a position on a profit after the market has moved in you favour with a predefined number of points.

It is important to remember that you set the protection values in points. Be careful with that because a point has a different value depending on the number of decimal digits in the quotation of your broker.

A point is the minimal change in price that the broker makes. For example, if you have 5 decimal digits quotation for EURUSD and a long position open at Ask = 1.27350. A point has a currency equivalent of $0.00001. If we have a spread of 20 points and set a Stop Loss of 150 points, an exit order will be placed at 1.27180 (1.27350 - 0.00020 - 0.00150).

If our broker provides 4 digits quotation for the current symbol, the position price will be 1.2735 with a spread equal to 2 points and respectively, we have to set our Stop Loss numeric box to 15 points. Doing so, the position will be protected with an exit order at the same price 1.2718 (1.2735 - 2 - 15).