EA CONFIGURATIONS

EA CONFIGURATIONS

Key Parameters:

1. Slippage:
   • Defines the maximum allowable slippage (in points) for opening trades.
   • If the slippage exceeds this value, the trade will not be executed.
   • Note: This value is used internally by the EA, but many brokers may not honor it consistently.
   • Example: If Slippage = 3, the EA will attempt to open trades with a maximum slippage of 3 points. Trades with greater slippage will be rejected.
2. MagicNumber:
   • A unique identifier used by the EA to track its own trades.
   • This ensures the EA can distinguish its trades from those opened by other EAs or manually.
   • Use Cases:
     • If running multiple EAs on different pairs, the same MagicNumber can be used.
     • If running multiple EAs on the same pair, assign each EA a unique MagicNumber to avoid conflicts.
   • Example MagicNumbers:
     • EA on EURUSD: 23423410
     • EA on GBPUSD: 23423411
     • EA on EURUSD (second instance): 23423412
3. TradeComment:
   • Allows you to set a custom comment for trades opened by the EA.
   • This comment is visible in the trade terminal and helps identify trades opened by the EA.
   • Example: If TradeComment = "TrendFollower", trades will appear in the terminal with this label.
4. Disable Check Error to Open Trade:
   • True: Disables the EA’s built-in checks before sending a trade command to the broker.
   • False: Enables the checks.
   • Explanation:
     • The EA performs predefined checks, such as ensuring there is enough margin, avoiding stoplevel areas, or adhering to other broker-specific rules before opening trades.
     • If your broker has unique conditions causing these checks to block valid trades, set this to True to bypass them.
5. Disable Market Close Error:
   • True: The EA ignores market close conditions and continues attempting to open trades.
   • False: The EA will not open trades if the market is closed.
   • Use Case:
     • Useful in backtesting when the broker’s market hours differ from standard trading hours, which might cause the EA to halt.
     • If your backtest is stuck due to market close conditions, set this to True and retry.

Important Notes:

• Slippage: While the EA can control slippage during trade execution, brokers may still execute trades at a different price due to market conditions.
• MagicNumber: Properly configuring MagicNumbers is critical when running multiple EAs to prevent trade management conflicts.
• Error Checks: Use the Disable Check Error to Open Trade option with caution, as disabling error checks can lead to trades being rejected by the broker.
• Backtesting: The Disable Market Close Error setting is specifically helpful for backtesting and may not be required during live trading.