forex software

Create and Test Forex Strategies

forex software

fsbpro_guide:expert_advisor_options

This is an old revision of the document!


Expert Advisor Options

Expert Advisor Options

1. Trading Amount

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.

2. Expert Protection

  • 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.

3. Expert Options

  • Expert Magic Number - A unique number of the expert's orders.
  • 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.