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Expert Advisor Options

Expert Advisor Options

Strategy Properties

These options correspond to the Strategy Properties options. FSB Pro fills in the values of our strategy here when we are exporting an Expert Advisor.

The values can be measured either in lots or in percents, depending on the Trading unit option of the strategy. We cannot change the unit type here. When the unit is percent, lets say 2%, the EA will use 2% of your free account equity to cover the required margin for opening a new position.

  • Amount for a new position - how many lots (or percent) to buy or sell when opening a new position.
  • Maximum position amount [lot] - the maximum open lots a strategy can reach.
  • Amount to add on addition - if the strategy allows adding, it will add the selected ## of lots (or percent)
  • Amount to close on reduction - if the strategy allows reduction of a position, this number sets what amount will be closed on an opposite entry signal.

This section of the panel contains the values of the strategy protections. These values are set in points. If a value is zero, it means that the protection is not used. You can change these values form the EA options.

  • Stop Loss [point]
  • Take Profit [point]
  • Break Even [point]
  • Martingale Multiplier

Indicator Parameters

This section exposes all numeric parameters of the EA indicators. You can change the parameters form here, but be careful to not make a parameter out of the possible range. The EA doesn't check the min and max values. If you make a value out of range the EA may crash.

Expert Settings

  • Expert Magic Number - A unique number of the expert's orders.
  • Stop trading at min Account - If account equity drops below this value, the expert will close out all positions and stop automatic trade. The value must be set in account currency. Example: If “Stop trading at min Account” = 700, the Expert will close all positions if the equity drops below 700 USD (EUR if your account is in EUR).
  • Ensure maximum Stop Loss - The expert checks the open positions at every tick and if found no SL or SL lower (higher for short) than selected, it sets SL to the defined value. The value is in points. Example: “Ensure maximum Stop Loss” = 200 means 200 pips for 4 digit broker and 20 pips for 5 digit broker.
  • Bar closing advance [sec] - How many seconds before the expected bar closing to rise a Bar Closing event.
  • Write a log file - When the option is “true”, the expert writes a log file in MQL\Files folder.
  • Custom order comment - this is a text parameter. If you set it, the EA will use the text as a comment to your open orders. It is necessary for some brokers. One possible use is when you trade binary options with an EA. Then you set the expiration time as a comment.