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SmartCandles Pro User Guide

The Smart Candles Pro User Guide provides a structured workflow for developing trading strategies, emphasizing the importance of understanding strategy types (trend vs. reversal) and trading concepts (traditional vs. grid). It outlines the steps for selecting triggers, filters, and trade management parameters, as well as the optimization process to refine these elements. The guide concludes with a reminder to test strategies in a demo environment before transitioning to live trading.

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LilSethie gunn
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0% found this document useful (0 votes)
160 views53 pages

SmartCandles Pro User Guide

The Smart Candles Pro User Guide provides a structured workflow for developing trading strategies, emphasizing the importance of understanding strategy types (trend vs. reversal) and trading concepts (traditional vs. grid). It outlines the steps for selecting triggers, filters, and trade management parameters, as well as the optimization process to refine these elements. The guide concludes with a reminder to test strategies in a demo environment before transitioning to live trading.

Uploaded by

LilSethie gunn
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
You are on page 1/ 53

MANUAL

MAN
NO
UAL
.1 FOR NEW USERS

SMART
CANDLES
PRO
USER GUIDE
WORKFLOW
GUIDE
Smart Candles Pro is a system designed to give you the necessary
tools to design an entire trading strategy whether intended for fully
automated use or semi-automated use. This short guide will teach
you about the suggested work-flow when building a trading
strategy, as well as the tips and tricks to quickly discard or further
research a trade idea.

This guide is intended for users that have already studied the user
guide, triggers and filters cheat sheet, and some of the material in
the video archive. There are important concepts that are better
explained in those materials and they will make it very easy for you
to catch up with the concepts explained in this guide.

When building a trading strategy, the first step is to decide what’s


the overall concept behind the strategy that you’re building,
generally speaking, a strategy can fall into one of these categories:

1. Trend Oriented Strategy


2.
ON
2. Reversal Oriented Strategy

The trend strategies look to identify the initial phases of a trend to


then start looking for trading opportunities, generally speaking,
they will have a really good risk-reward profile, but will have a
weakness on the win ratio aspect. These strategies are better suited
for pairs known for showing big price movements in one direction
for a sustained period of time.

The reversal strategies look to identify a pull-back or reversal.


These strategies tend to have a high win-rate, however, the risk
reward aspect tends to have a skew, meaning that on average the
winning trades will be smaller than the losing trades. These
strategies are better suited for pairs known for showing a range
movement for sustained periods of time.

Once we decide what strategy type we’re building, we now need to


decide what will be the overall trading concept behind it, in
summary, with Smart Candles Pro, we can have the following
options:
3.
ON
Traditional trading

Grid trading

The first one is the most common method of trading within manual
operations, so we will have our entry price and a predefined stop
loss and profit target right away. On the other hand, grid systems
will look to add more trades in case the market goes against the
initial position. Generally speaking, as the trade group builds up,
the system will hold the floating drawdown looking to get a reversal
eventually that’s large enough to exit the trade sequence.

These initial steps prior to starting to develop the actual trading


logic and trade management are crucial to better understand what
triggers and trade management methods are better suited for the
strategy concept that we’re looking to develop. Once we define
those crucial steps, we can now start the trading logic phase.

The first step is to choose one of the available triggers, once we


decide what trigger we will be using, we need to do the same
process with the available filters. Remember that within the triggers
and filters cheat sheet we have a description of each filter and
trigger’s behavior. It is extremely important to understand the
triggers and filters that we will be using, as it’s crucial to know what
parameter range we will utilize when starting an optimization.

Here are some examples:

RSI as a trigger, we can interpret a period of 3 - 8 as best


suited for getting a high number of trades, 9 - 14 as an
intermediate area to get trades with a relatively frequent basis,
and above that value as a period that will result in less trades.
4.
ON
Moving average as a filter, we can interpret a period of 5 - 20
as short term trend filtering, values of 21 - 50 as mid term trend
filtering and values above it as long term trend filtering. This is
because the longer the period, the slower the indicator will react
to price movements.

As a general recommendation, the fewer triggers and filters we use,


the better, as we need our strategy to be robust and not depend on
a lot of conditions lining up once or twice a month. The more trades
our strategy gets, the better as we will have a solid base to validate
or invalidate a strategy.

Once we define our triggers and filters, we need to decide what


value we should use in the start, step and stop columns. Generally
speaking, we want to “center” the reference value, and go by an
equal amount of steps below and above it. For example:

To optimize a midterm moving average, we will use 50 as the


reference value, and the value placed in the start column can be
30, a step of 10, and a stop of 70, this way, the optimization engine
will test the values 30, 40, 50, 60 and 70. To decide the steps, we
should make it to where it’s going to take around 5 potential values,
as in the given example.

The first few optimization rounds we’re interested in finding a


broad area of parameters that can produce a positive return, we’re
not focusing on refining yet, once we find a good parameter, we
can start doing rounds that are more specific, for example, let's
assume the MA optimization says a value of 60 is best, we can now
run a second round starting on 50 and stopping on 70, but in steps
of 5, so we will test 50, 55, 60, 65 and 70. That would be the
refining round.
5.
ON
Also, we shouldn’t optimize, in this example, on steps of 1, as that
will make our strategy very fragile and over optimized, as trading
with a system that performs well with a parameter being 55 but
gives out a lot of its performance when changed to 57, it’s not
robust enough for a fully automated set-up.

The next step is to optimize our trade management, and broadly


speaking, there are 3 main components: stop loss, take profit, and
position management. We first need to decide if we will use an ATR
calculation or a pip based calculation, then once we decide it, we
can use the same methodology explained above to optimize our
parameters, for example, a take profit of around 3 times the ATR
can be optimized using a start value of 1, a step of 1, and a stop of
5. Then we can refine using a step value of 0.5.

Then, the trade management will be slightly different between the


traditional version and the grid version, for a first round
optimization, we can optimize in the traditional version the Trailing
Stop Loss feature. This feature is not yet available in the grid
version, however, the grid parameters should be optimized as well
in the first optimization round. Remember to check the user guide
for a detailed explanation on every input and it’s behavior.

These broad areas should be our initial optimization set up, as we


need to maintain the total amount of potential combinations below
500,000. This is because MT4 will automatically select only around
10,000 of them, and those 10,000 should still be a decent
percentage of the total combinations. Think about it this way, if
there are 100,000 possible combinations, from optimizing around 7
- 8 parameters, and MT4 picks 10,000 of them, that’s 10% of our
overall optimization space, but if we optimize more parameters and
have around 10 million potential combinations, MT4 will still only
6.
ON
pick around 10,000 from those, which will represent a 0.1% of the
total combinations, and it’s very possible that we will ignore the
most appropriate settings.

Also, a good trick to get around the situation explained above, is to


have multiple MT4s optimizing at once the same parameters so we
can have our sample size being more significant. Another important
aspect to mention, is the fact that we shouldn’t optimize parameters
related to risk management, that is, the input Reference in the grid
variant or the Risk per trade in the traditional variant, as it will
skew the optimization process towards a high risk.

Once we have the results from the first round of optimizations, we


can get into more advanced trade management, such as time
based close conditions, hour filtering, day of the week based filters,
variable targets (available in the grid variant) among others. The
reason we want to add these parameters into a later phase of our
optimization process is because we want to solidify first a broad
setting for the main components, which is trading logic and basic
trade management, to then stop optimizing them and start
optimizing more features, which will help keeping the overall
potential combination amount within the recommended range, and
avoid over optimizing our system.

Once we do a second round by optimizing more features and


testing more concepts inside of our strategy, we could test doing a
second round on the main components and leaving the additional
features we added with the results. In other words, we optimize
again the trading logic components but we don’t optimize in that
round the additional features we added to the system.

For example, we stop optimizing time based trade closure, but


7.
ON
optimize again the settings for our triggers and filters to see if with
the addition of the time based trade closure feature, we can find a
better setting for our triggers and filters around the value we
initially found.

After doing this process, we can add more features and re-optimize
existing ones until we find a result that we like to move into a
testing phase. Once we find a good set of parameters, we can start
a demo test, to evaluate the live trading results from our strategy.

This will be the last phase we need to take on, as the demo results
will give us more insights about our strategy being solid enough to
transition to a live account or we need to go back to the drawing
board to find better settings.

We must keep in mind that the entire process of building a strategy


is time consuming and will be frustrating at first, but as with any
other skill, with time it will become easier to go through the entire
process.

In summary, these are the steps we need to follow to build a system:

1. Decide our strategy type, trend or reversal based.


2. Decide the Smart Candles Pro variant we will use, traditionall
or grid.
3. Pick one trigger and one filter.
4. Pick our basic trade management.
5. Run a first broad optimization using the selected parameters.
6. Test and select a set of parameters after running the first
optimization.
7. Uncheck the selected parameters that are already optimized.
8. Check new parameters to test more features.
8.
ON
9. Run a second broad optimization with the added features.
10. Test and select a set of parameters after running the second
optimization.
11. Uncheck the selected parameters that are already optimized.
12. Re-optimize the values from the first round with more
specific settings.
13. Repeat this process for every new feature added into the
strategy.
14. After finding a set of parameters that you consider final,
move to a demo test.
15. After a month or two check if further optimization is needed
or do a small live test.

Remember that this guide is intended to be complemented with the


rest of the support material, which is composed by the manual with
the description of each input, the cheat sheet about the triggers
and filters, and the recorded videos in the archive.

“Without passion, you don’t have energy. Without energy, you


don’t have nothing”
-Warren Buffet.
9.
ON
S. C. PRO
MANUAL
This document has the main purpose of explaining what each input
of the Expert Advisor means. It is divided into several sections
according to the inputs on the system.
General Settings
Broker type: Input to select the type of broker. It defaults to
five digits and it has the following options:

o Four digits: Select when EUR/USD has 4 numbers after the


decimal point. For example: 1.1234
o Five digits: Select when EUR/USD has 5 numbers after the
decimal point. For example: 1.12345

Slippage in pips: To define the maximum order slippage


measured in pips. It defaults to 1.

Magic number: To define the magic number (It should be


unique to every expert advisor instance deployed on
MetaTrader 4) of the deployed instance of the expert advisor. It
defaults to 777666552.

Magic number (split trades): To define the magic number (It


should be unique to every expert advisor instance deployed on
MetaTrader 4) of the deployed instance of the expert advisor.
This will apply to the trades being divided into multiple
positions in case the total traded amount exceeds the maximum
allowed volume per position. It defaults to 777666553.
01 .
ON
Min lots (Auto MM): To define the minimum amount of lots to be
traded. It has no effect when the Auto MM input is deactivated. It
defaults to 0.01.

Max lot (Auto MM): To define the maximum amount of lots to be


traded. It has no effect when the Auto MM input is deactivated. It
defaults to 100.00.

Max simultaneous trades: To define the maximum number of


simultaneous trades placed by the expert advisor on the selected
pair. It defaults to 10.

Alerts: To control if the Expert Advisor is creating pop-up alerts with


information regarding any errors. Setting this input to deactivated
helps the run time. It defaults to Deactivated.

---Dashboard---: Informative parameter.

Info dashboard: To control whether to show or hide the information


panel. It is only recommended to use while live trading, since using it
can decrease the run-time when performing back-testing or
optimizing. It defaults to deactivated.

Text distance: To control the distance between lines inside the


information panel. It defaults to 20.

Text size: To control the font size used in the information panel. It
defaults to 13.

Text adjustment: To control the spacing between the information


column and the text column inside of the information panel. It
defaults to 25.

Text color: To control the color of the text on the information panel.
It defaults to White.
11 .
ON
Title color: To control the color of the titles on the information
panel. It defaults to Gold.

Indicators
---Indicators---: Informative parameter.

PSAR trigger: to activate or deactivate the PSAR indicator


trigger. It defaults false.

o Price increment Step: the desired increment in price by steps.


It defaults 0.02.
o Maximum Value of Step: the size of the maximum value for
the steps. It defaults 0.2.

MACD trigger: to activate or deactivate the MACD indicator


trigger. It defaults false.

o Fast EMA Period: the period of the fast exponential moving


average for the MACD indicator trigger. It defaults to 12.
o Slow EMA Period: the period of the slow exponential moving
average for the MACD indicator trigger. It defaults to 26.
o Signal Line Period: the period for the signal line of the
MACD indicator trigger. It defaults to 9.
o Applied Price: the type of the price applied for MACD
indicator trigger. It defaults to Close Price. The different
options for this feature are the following:

§ Close Price.
§ Open Price.
§ High Price.
§ Low Price.
§ Median Price.
§ Typical Price.
21 .

§ Weighted Price.
ON
RSI trigger: to activate or deactivate the RSI indicator trigger.
It defaults false.

o Period: the period for the RSI indicator. It defaults to 14.


o Applied Price: the type of the price applied for RSI. It defaults
to Close Price. The different options for this feature are the
following:

§ Close Price.
§ Open Price.
§ High Price.
§ Low Price.
§ Median Price.
§ Typical Price.
§ Weighted Price.

o RSI Overbought: the RSI’s value for the price being


overbought. It defaults to 70.
o RSI Oversold: the RSI’s value for the price being oversold. It
defaults to 30.

Smart Candles trigger: to activate or deactivate the Smart


Candles indicator trigger. It defaults false.

o Signal Sensitivity: the signal sensitivity for the Smart Candles


indicator. It defaults to 10.
o Signal Multiplier: the signal multiplier for the Smart Candles
indicator. It defaults to 2.0.
o Smart Candles Strong Buy/Sell: to activate or deactivate the
following trading behavior: if it is set to true, only strong buys
or sells will be generated. If it is set to false, only regular buy
or sells will be generated. It has the following options:
31 .
ON
§ True: To activate the feature.
§ False: To deactivate the feature.

BB trigger: to activate or deactivate the Bollinger Bands. It


defaults false.

o Averaging Period: the averaged period for the Bollinger


bands. It defaults to 20.
o Standard Deviations: the standard deviation value for the
Bollinger bands. It defaults to 2.0.
o Applied Price: the type of the price applied for the Bollinger
bands. It defaults to Close Price. The different options for this
feature are the following:

§ Close Price.
§ Open Price.
§ High Price.
§ Low Price.
§ Median Price.
§ Typical Price.
§ Weighted Price.

o Trigger mode: It defaults to Wicks.

PSAR filter: to activate or deactivate the PSAR filter indicator.


It defaults false.

o Price Increment Step: the desired increment in price by steps.


It defaults 0.02.
o Maximum Value of Step: the size of the maximum value for
the steps. It defaults 0.2.
41 .
ON
MACD filter: to activate or deactivate the MACD indicator
filter. It defaults false.

o Fast EMA Period: the period of the fast exponential moving


average for the MACD indicator filter. It defaults to 12.
o Slow EMA Period: the period of the slow exponential moving
average for the MACD indicator filter. It defaults to 26.
o Signal Line Period: the period for the signal line of the MACD
indicator filter. It defaults to 9.
o Applied Price: the type of the price applied for MACD
indicator filter. It defaults to Close Price. The different options
for this feature are the following:

§ Close Price.
§ Open Price.
§ High Price.
§ Low Price.
§ Median Price.
§ Typical Price.
§ Weighted Price.

MA filter: to activate or deactivate the moving average filter


indicator. It defaults false.

o Averaging period: the averaged period for the moving


average indicator. It defaults 13.
o Smoothing methods: the types of smoothing methods for the
moving average filter indicator. It defaults to Simple and it
has the following options:

§ Simple.
51 .
ON
§ Exponential.
§ Smoothed.
§ Linear Weighted.

o Applied Price: the type of the price applied for moving


average filter indicator. It defaults to Close Price. The
different options for this feature are the following:

§ Close Price.
§ Open Price.
§ High Price.
§ Low Price.
§ Median Price.
§ Typical Price.
§ Weighted Price.

Ichimoku filter: to activate or deactivate the Ichimoku filter


indicator. It defaults false.

o Tenkan-sen line’s period: the desired period for Tenkan-sen’s


line of Ichimoku filter indicator. It defaults to 9.
o Kijun-sen line’s period: the desired period for Kijun-sen’s line
of Ichimoku filter indicator. It defaults 26.
o Senkou Span B line’s period: the desired period for Senkou
Span B’s line of Ichimoku filter indicator. It defaults 52.

ADX filter: to activate or deactivate the average directional


index filter indicator. It defaults false.

o Averaging period: the averaged period for the average


directional index filter indicator. It defaults 14.
61 .
ON
o ADX threshold: To define the ADX threshold. It defaults to 25.
o Applied Price: the type of the price applied for the average
directional index filter indicator. It defaults to Close Price.
The different options for this feature are the following:

§ Close Price.
§ Open Price.
§ High Price.
§ Low Price.
§ Median Price.
§ Typical Price.
§ Weighted Price.

o ADX Filter mode: It defaults to Filter out range. The


behavior is defined down below. The different options for
this feature are the following:

§ Filter out range: For trades to be placed the


indicator needs to be above the threshold.
§ Filter out trends: For trades to be placed the indicator
needs to be below the threshold.

Trade Management
ATR period: ATR indicator period to calculate various trade
management features. It defaults to 14.

---Take profit---: Informative parameter.

Take profit mode: To control what calculation method will be


used for the take profit levels. It defaults to ATR and it has the
following options:
71 .
ON
o ATR: The ATR indicator will be used to calculate the take
profit level.
o Pips: A regular pip-count based calculation will be used to
define the take profit level.

Take profit (ATR / Pips): Multiplier to calculate take profit. It


will be based on a predefined number of pips or an ATR
multiplier depending on the Take profit mode input. For
example, if the ATR mode is used, an input of 2 will place the
take profit 2 times the current ATR away from the entry price. It
defaults to 3.

---Stop loss---: Informative parameter.

Stop loss mode: To control what calculation method will be used


for the stop loss levels. It defaults to ATR and it has the
following options:

o ATR: The ATR indicator will be used to calculate the stop loss
level.
o Pips: A regular pip-count based calculation will be used to
define the stop loss level.

Stop loss in ATR: Multiplier to calculate stop loss. It will be


based on a predefined number of pips or an ATR multiplier
depending on the Stop loss mode input. For example, a
multiplier of 2 will place the stop loss 2 times the current ATR
away from the entry price. It defaults to 3.

---Spread limit---: Informative parameter.

Spread limit: To activate or deactivate the spread limit feature.


It defaults to deactivated and it has the following options:
81 .
ON
o Activated: Select to use the feature.
o Deactivated: Select to not use the feature.

Spread limit in ticks: To define the number of ticks allowed as


the maximum spread. Note that the input is on ticks and not
pips, so if the limit is 1 pip, the input should be 10 as 1 pip
equals to 10 ticks. If the current spread is above this value, the
expert advisor will not place any trades. It has no effect when
the spread limit input is deactivated. It defaults to 10.

---Trading hours---: Informative parameter.

Trading hours: To activate or deactivate the trading hours


feature. It defaults to deactivated and it has the following
options:

o Activated: Select to use the feature.


o Deactivated: Select to not use the feature.

Start hour: To define the time on which the system will start
searching for entries. It has no effect if the trading hours input
is deactivated. 0-to-23-time format. It defaults to 0.

Stop hour: To define the time on which the system will stop
searching for entries. It has no effect if the trading hours input
is deactivated. 0-to-23-time format. It defaults to 23.

Stop hour mode: To define the behavior when the stop hour is
reached. It has no effect if the trading hours input is
deactivated. It defaults to Close trades and it has the following
options:
91 .
ON
o Close trades: The system will close all the orders opened by
the Expert Advisor on the selected pair once the stop hour is
reached.
o Keep trades: The system will maintain all the orders opened
by the Expert Advisor on the selected pair once the stop hour
is reached.

---Skip hours---: Informative parameter.

Skip hours: To activate or deactivate the skip hours feature. It


defaults to deactivated and it has the following options:

o Activated (1): The system will not trade on the defined hour in
the Hour 1 input (described below).
o Activated (1 and 2): The system will not trade on the defined
hours on the Hour 1 and Hour 2 inputs (described below).
o Activated (1, 2 and 3): The system will not trade on the
defined hours on the Hour 1, Hour 2, and Hour 3 inputs
(described below).

Hour 1: To define the first hour to skip when using the skip
hours feature. It has no effect when the skip hours input is
deactivated. 0-to-23-time format. It defaults to 0.

Hour 2: To define the second hour to skip when using the skip
hours feature. It has no effect when the skip hours input is
deactivated. It has effect only when the Skip hours input is set
to Activated (1 and 2) or Activated (1, 2 and 3). 0-to-23-time
format. It defaults to 1.

Hour 3: To define the third hour to skip when using the


02 .
ON
skip hours feature. It has no effect when the skip hours input is
deactivated. It has effect only when the Skip hours input is set to
Activated (1, 2 and 3). 0-to-23-time format. It defaults to 2.

---Weekly close---: Informative parameter.

Weekly close: To activate or deactivate the weekly close


feature. It defaults to deactivated and it has the following
options:

o Activated: Select to use the feature.


o Deactivated: Select to not use the feature.

Open day: To define the day of the week to start the trading
operations, the expert advisor will start looking for trades on
the selected pair once the open hour (defined by the input
described below) is reached. It has no effect when the Weekly
close input is deactivated. 0 = Sunday, 1 = Monday… format. It
defaults to 1.

Open hour: To define the hour where the expert advisor will
start looking for trades on the selected pair once the open hour
is reached. It has no effect when the weekly close input is
deactivated. 0-to-23-time format. It defaults to 0.

Close day: To define the day of the week to close all the orders
that were opened by the expert advisor on the selected pair
once the close hour (defined by the input described below) is
reached. Once the close hour is reached within the selected day,
the expert advisor will stop looking for new potential trading
opportunities. It has no effect when the Weekly close input is
deactivated. 0 = Sunday, 1 = Monday… format. It defaults to 5.
12 .
ON
Close hour: To define the hour to close all orders opened by the
expert advisor on the selected pair once the close hour is
reached. It has no effect when the weekly close input is
deactivated. 0-to-23-time format. It defaults to 23.

---Weekly schedule---: Informative parameter.

Monday: To allow trading during Monday. True means trading


is allowed, false means trading is not allowed. It defaults to
true.

Tuesday: To allow trading during Tuesday. True means trading


is allowed, false means trading is not allowed. It defaults to
true.

Wednesday: To allow trading during Wednesday. True means


trading is allowed, false means trading is not allowed. It
defaults to true.

Thursday: To allow trading during Thursday. True means


trading is allowed, false means trading is not allowed. It
defaults to true.

Friday: To allow trading during Friday. True means trading is


allowed, false means trading is not allowed. It defaults to true.

---Bar time-out---: Informative parameter.

Bar time-out: To activate or deactivate the bar time-out


feature. It defaults to deactivated and it has the following
options:
22 .
ON
o Break even mode: Select to have the following behavior: If
any given order opened by the expert advisor on the selected
pair is not at break even or in profits after the defined
number of bars since execution, specified in the bar time-out
input (See below), the system will close the order at market.
For example, if the bar time-out input is 5 and 5 bars have
gone by since order execution, and the order is at a loss, the
system will close it.

o Min profit mode: Select to have the following behavior: If any


given order opened by the expert advisor on the selected pair
is not at a minimum profit threshold (defined by either an
ATR multiplier or a predefined amount of pips, depending on
the Bar time-out mode input, see below) after the defined
amount of bars since execution in the bar time-out input (See
below), the system will close the order at market. For example,
if the bar time-out input is 5 and 5 bars have gone by since
order execution, and the order is at a loss or at a profit below
the threshold, the system will close it.

o Deactivated: Select to not use the feature.

Bar time-out: To define the number of bars to wait for the


order to be at or above break even or at a minimum profit
(depending on the bar time-out input). It has no effect when the
bar time-out input is deactivated. It defaults to 5.

Bar time-out mode: To define the calculation method for the


minimum profit threshold of the bar time-out feature. It has no
effect when the bar time-out input is deactivated or set to
break even mode. It defaults to ATR and it has the following
options:
32 .
ON
o ATR: The ATR indicator will be used to calculate the minimum
profit threshold level.
o Pips: A regular pip-count based calculation will be used to
define the minimum profit threshold level.

Bar time-out threshold (ATR / Pips): Multiplier of the ATR


indicator, or a predefined pip count number (depending on the
Bar time-out mode input) to calculate the minimum profit
threshold for the bar time-out feature. For example, a multiplier
of 2 while using the Bar time-out mode to ATR, will set the
minimum profit required to not close the order after the bar
time-out at 2 times the current value of the ATR indicator. It
has no effect when the bar time-out input is deactivated or set
to break even mode. It defaults to 2.

Trailing Stop Loss


Trailing stop loss: To activate or deactivate the trailing stop
loss feature. It defaults to deactivated and it has the following
options:

o Activated: Select to use the feature.


o Deactivated: Select to not use the feature.

Trailing stop loss mode: To control what calculation method will


be used for the trailing stop loss feature. It defaults to ATR and
it has the following options:

o ATR: The ATR indicator will be used to calculate the trailing


stop loss levels.
o Pips: A regular pip-count based calculation will be used to
define the trailing stop loss levels.
42 .
ON
Trailing stop ATR period: ATR indicator period to calculate the
new stop loss levels based on the trailing stop loss feature. It
has no effect when the trailing stop loss input is deactivated. It
defaults to 14.

Trailing step: To define the trailing step value. This means the
amount of pips by which the stop loss will be moved when using
the trailing stop loss feature. For example, if set to 1, it will
move 1 pip at the time. It has no effect when the trailing stop
loss input is deactivated. It defaults to 1.

---Trailing start---: Informative parameter.

Trailing start: Input to activate or deactivate the trailing start


feature. It defaults to deactivated and it has the following
options:

o Activated: Select to use the feature.


o Deactivated: Select to not use the feature.

Trailing start mode: To define the behavior of the trailing start


feature. It has no effect when the trailing stop loss input and
the trailing start input are deactivated. It defaults to
independent multiplier and it has the following options:

o SL multiplier: Select to use the stop loss ATR multiplier or pip


value (depending on the Stop loss mode input) as the
threshold to calculate the minimum profit to trigger the
trailing start feature.
o Independent multiplier: Select to use an independent ATR
multiplier or pip value (depending on the Trailing stop loss
52 .
ON
mode input) as the threshold to calculate the minimum profit
to trigger the trailing start feature.

Trailing start (ATR / Pips): Multiplier of the ATR indicator, or a


predefined pip count number (depending on the Trailing start
mode input) to calculate the minimum profit threshold to
activate the trailing start feature. For example, a multiplier of 3
while using the Trailing start mode input to ATR will require the
existing orders placed by the expert advisor on the selected pair
to have at least 3 times the current ATR in profits to activate
the trailing start feature. It has no effect when the trailing stop
loss input and the trailing start input is deactivated, and the
trailing start mode is set to SL multiplier. It defaults to 3.

Partials: To activate or deactivate the partials feature. It has no


effect when the trailing stop loss input and the trailing start
input is deactivated. It defaults to deactivated and it has the
following options:

o Activated: Select to use the feature.


o Deactivated: Select to not use the feature.

Partials in %: To define the percentage of the order to be


closed when the trailing start is triggered. For example, if set to
50, the system will close 50% of the existing orders placed by
the expert advisor on the selected pair when the trailing start
feature is triggered. It has no effect when the trailing stop loss
input, the trailing start input, and the partials input is
deactivated. It defaults to 50.
62 .
ON
Break-even: To activate or deactivate the break-even feature. It
defaults to deactivated and it has the following options:

o Activated: Select to use the feature.


o Deactivated: Select to not use the feature.

Break-even calculation mode: To control what calculation


method will be used for the break-even feature. It defaults to
ATR and it has the following options:

o ATR: The ATR indicator will be used in order to calculate the


break-even levels.
o Pips: A regular pip-count based calculation will be used to
define the break-even levels.

ATR period: ATR indicator period to calculate the minimum


profit threshold to activate the break-even feature. Once the
threshold is reached, the system will move the stop loss to
break-even. It has no effect when the break-even input is
deactivated. It defaults to 14.

Break-even mode: To define the behavior of the break-even


feature. It has no effect when the break-even input is
deactivated. It defaults to Independent multiplier and it has the
following options:

o SL multiplier: Select to use the stop loss ATR multiplier or pip


value (depending on the Stop loss mode input) as the
threshold to calculate the minimum profit to trigger the
break-even feature.
72 .
ON
o Independent multiplier: Select to use an independent ATR
multiplier or pip value (depending on the Break-even
calculation mode input) as the threshold to calculate the
minimum profit to trigger the break-even feature.

Break-even (ATR / Pips): Multiplier of the ATR indicator, or a


predefined pip count number (depending on the Break-even
calculation mode input) to calculate the minimum profit
threshold to activate the break-even feature. For example, a
multiplier of 3, while using the Break-even calculation mode
input to ATR will require the existing orders placed by the
expert advisor on the selected pair to have at least 3 times the
current ATR in profits to activate the break-even feature. It has
no effect when the break-even input is deactivated, and the
break-even mode is set to SL multiplier. It defaults to 3.

Partials: To activate or deactivate the partials feature. It has no


effect when the break-even input is deactivated. It defaults to
deactivated and it has the following options:

o Activated: Select to use the feature.


o Deactivated: Select to not use the feature.

Partials in %: To define the percentage of the order to be


closed when the break-even is triggered. For example, if set to
50, the system will close 50% of the existing orders placed by
the expert advisor on the selected pair when the break-even
feature is triggered. It has no effect when the break-even input
and the partials input is deactivated. It defaults to 50.

---Profit protection settings---: Informative parameter.


82 .
ON
Profit protection: Input to activate or deactivate the profit
protection feature. It has no effect when the break-even input is
deactivated. It defaults to deactivated and it has the following
options:

o Activated: Select to use the feature.


o Deactivated: Select to not use the feature.

Profit protection (ATR/Pips): To define the amount of pips, or


multiplier of the ATR indicator (depending on the Break-even
calculation mode input) that will be secured in profits when the
break-even feature is triggered. It has no effect when the break-
even input and the profit protection feature is deactivated. It
defaults to 0.5.
Money Management
---Loss limit---: Informative parameter.

Loss limit: To activate or deactivate the loss limit feature. It


defaults to activated and it has the following options:

o Activated: Select to use the feature.


o Deactivated: Select to not use the feature.

Loss limit mode: To define the calculation method for the loss
limit feature. It has no effect when the loss limit input is
deactivated. It defaults to equity and it has the following
options:

o Balance: Select to use the account balance to calculate the


loss limit feature.
92 .
ON
o Equity: Select to use the account equity to calculate the loss
limit feature.

Loss limit (%): To define the loss limit % threshold for the loss
limit feature. For example, if the input is set at 20, the system
will stop the expert advisor instance and close all open orders
opened by the expert advisor on the selected pair in the case
the account gets a 20% drawdown hit. It has no effect when the
loss limit input is deactivated. It defaults to 25.

---Manual lots---: Informative parameter.

Lots (When not using Auto MM): To define the manual lot size
when the automatic money management is disabled. It has no
effect when the Auto MM input (see below) is deactivated. It
defaults to 0.01.

---Auto money management---: Informative parameter.

Auto MM: To activate or deactivate the automatic money


management feature. It defaults to activated and it has the
following options:

o Activated: Select to use the feature.


o Deactivated: Select to not use the feature.

---Risk profile---: Informative parameter.

Risk per trade (%): To define the account % (calculated over


equity) to risk on any given trade opened by the expert advisor
on the selected pair. For example, if set to 1 on an account with
03 .
ON
$10 000.00, it will risk $100 per trade. The calculation involves
using a stop loss to calculate the required position sizing. It has
no effect when the Auto MM input is deactivated. It defaults to
1.

Risk mode: To define the behavior of the position sizing


calculation. It has no effect when the Auto MM input is
deactivated. It defaults to strict and it has the following options:

o Strict: Select to always round down the lot sizing if necessary.


o Flex: Select to round to the nearest lot size available if
necessary.
03 .
ON
S. C. PRO GRID
MANUAL
This document has the main purpose of explaining what each input
of the Expert Advisor: Smart Candles Pro Grid means. It is divided
into several sections according to the inputs on the system.
General Settings
Broker type: Input to select the type of broker. It defaults to
five digits and it has the following options:

o Four digits: Select when EUR/USD has 4 numbers after the


decimal point. For example: 1.1234
o Five digits: Select when EUR/USD has 5 numbers after the
decimal point. For example: 1.12345

Slippage in pips: To define the maximum order slippage


measured in pips. It defaults to 1.

Magic number: To define the magic number (It should be


unique to every expert advisor instance deployed on
MetaTrader 4) of the deployed instance of the expert advisor. It
defaults to 777666552.

Magic number (split trades): To define the magic number (It


should be unique to every expert advisor instance deployed on
MetaTrader 4) of the deployed instance of the expert advisor.
This will apply to the trades being divided into multiple
positions in case the total traded amount exceeds the maximum
allowed volume per position. It defaults to 777666553.
23 .
ON
Min lots (Auto MM): To define the minimum amount of lots to be
traded. It has no effect when the Auto MM input is deactivated. It
defaults to 0.01.

Max lot (Auto MM): To define the maximum amount of lots to be


traded. It has no effect when the Auto MM input is deactivated. It
defaults to 100.00.

Max simultaneous trades: To define the maximum number of


simultaneous trades placed by the expert advisor on the selected
pair. It defaults to 10.

Alerts: To control if the Expert Advisor is creating pop-up alerts with


information regarding any errors. Setting this input to deactivated
helps the run time. It defaults to Deactivated.

---Dashboard---: Informative parameter.

Info dashboard: To control whether to show or hide the information


panel. It is only recommended to use while live trading, since using it
can decrease the run-time when performing back-testing or
optimizing. It defaults to deactivated.

Text distance: To control the distance between lines inside the


information panel. It defaults to 20.

Text size: To control the font size used in the information panel. It
defaults to 13.

Text adjustment: To control the spacing between the information


column and the text column inside of the information panel. It
defaults to 25.

Text color: To control the color of the text on the information panel.
It defaults to White.
33 .
ON
Title color: To control the color of the titles on the information
panel. It defaults to Gold.

Indicators
---Indicators---: Informative parameter.

PSAR trigger: to activate or deactivate the PSAR indicator


trigger. It defaults false.

o Price increment Step: the desired increment in price by steps.


It defaults 0.02.
o Maximum Value of Step: the size of the maximum value for
the steps. It defaults 0.2.

MACD trigger: to activate or deactivate the MACD indicator


trigger. It defaults false.

o Fast EMA Period: the period of the fast exponential moving


average for the MACD indicator trigger. It defaults to 12.
o Slow EMA Period: the period of the slow exponential moving
average for the MACD indicator trigger. It defaults to 26.
o Signal Line Period: the period for the signal line of the
MACD indicator trigger. It defaults to 9.
o Applied Price: the type of the price applied for MACD
indicator trigger. It defaults to Close Price. The different
options for this feature are the following:

§ Close Price.
§ Open Price.
§ High Price.
§ Low Price.
§ Median Price.
§ Typical Price.
43 .

§ Weighted Price.
ON
RSI trigger: to activate or deactivate the RSI indicator trigger.
It defaults false.

o Period: the period for the RSI indicator. It defaults to 14.


o Applied Price: the type of the price applied for RSI. It defaults
to Close Price. The different options for this feature are the
following:

§ Close Price.
§ Open Price.
§ High Price.
§ Low Price.
§ Median Price.
§ Typical Price.
§ Weighted Price.

o RSI Overbought: the RSI’s value for the price being


overbought. It defaults to 70.
o RSI Oversold: the RSI’s value for the price being oversold. It
defaults to 30.

Smart Candles trigger: to activate or deactivate the Smart


Candles indicator trigger. It defaults false.

o Signal Sensitivity: the signal sensitivity for the Smart Candles


indicator. It defaults to 10.
o Signal Multiplier: the signal multiplier for the Smart Candles
indicator. It defaults to 2.0.
o Smart Candles Strong Buy/Sell: to activate or deactivate the
following trading behavior: if it is set to true, only strong buys
or sells will be generated. If it is set to false, only regular buy
or sells will be generated. It has the following options:
53 .
ON
§ True: To activate the feature.
§ False: To deactivate the feature.

BB trigger: to activate or deactivate the Bollinger Bands. It


defaults false.

o Averaging Period: the averaged period for the Bollinger


bands. It defaults to 20.
o Standard Deviations: the standard deviation value for the
Bollinger bands. It defaults to 2.0.
o Applied Price: the type of the price applied for the Bollinger
bands. It defaults to Close Price. The different options for this
feature are the following:

§ Close Price.
§ Open Price.
§ High Price.
§ Low Price.
§ Median Price.
§ Typical Price.
§ Weighted Price.

o Trigger mode: It defaults to Wicks.

PSAR filter: to activate or deactivate the PSAR filter indicator.


It defaults false.

o Price Increment Step: the desired increment in price by steps.


It defaults 0.02.
o Maximum Value of Step: the size of the maximum value for
the steps. It defaults 0.2.
63 .
ON
MACD filter: to activate or deactivate the MACD indicator
filter. It defaults false.

o Fast EMA Period: the period of the fast exponential moving


average for the MACD indicator filter. It defaults to 12.
o Slow EMA Period: the period of the slow exponential moving
average for the MACD indicator filter. It defaults to 26.
o Signal Line Period: the period for the signal line of the MACD
indicator filter. It defaults to 9.
o Applied Price: the type of the price applied for MACD
indicator filter. It defaults to Close Price. The different options
for this feature are the following:

§ Close Price.
§ Open Price.
§ High Price.
§ Low Price.
§ Median Price.
§ Typical Price.
§ Weighted Price.

MA filter: to activate or deactivate the moving average filter


indicator. It defaults false.

o Averaging period: the averaged period for the moving


average indicator. It defaults 13.
o Smoothing methods: the types of smoothing methods for the
moving average filter indicator. It defaults to Simple and it
has the following options:

§ Simple.
73 .
ON
§ Exponential.
§ Smoothed.
§ Linear Weighted.

o Applied Price: the type of the price applied for moving


average filter indicator. It defaults to Close Price. The
different options for this feature are the following:

§ Close Price.
§ Open Price.
§ High Price.
§ Low Price.
§ Median Price.
§ Typical Price.
§ Weighted Price.

Ichimoku filter: to activate or deactivate the Ichimoku filter


indicator. It defaults false.

o Tenkan-sen line’s period: the desired period for Tenkan-sen’s


line of Ichimoku filter indicator. It defaults to 9.
o Kijun-sen line’s period: the desired period for Kijun-sen’s line
of Ichimoku filter indicator. It defaults 26.
o Senkou Span B line’s period: the desired period for Senkou
Span B’s line of Ichimoku filter indicator. It defaults 52.

ADX filter: to activate or deactivate the average directional


index filter indicator. It defaults false.

o Averaging period: the averaged period for the average


directional index filter indicator. It defaults 14.
83 .
ON
o ADX threshold: To define the ADX threshold. It defaults to 25.
o Applied Price: the type of the price applied for the average
directional index filter indicator. It defaults to Close Price.
The different options for this feature are the following:

§ Close Price.
§ Open Price.
§ High Price.
§ Low Price.
§ Median Price.
§ Typical Price.
§ Weighted Price.

o ADX Filter mode: It defaults to Filter out range. The


behavior is defined down below. The different options for
this feature are the following:

§ Filter out range: For trades to be placed the


indicator needs to be above the threshold.
§ Filter out trends: For trades to be placed the indicator
needs to be below the threshold.

Trade Management
ATR period: ATR indicator period to calculate various trade
management features. It defaults to 14.

---Take profit---: Informative parameter.

Take profit mode: To control what calculation method will be


used for the take profit levels. It defaults to ATR and it has the
following options:
93 .
ON
o ATR: The ATR indicator will be used to calculate the take
profit level.
o Pips: A regular pip-count based calculation will be used to
define the take profit level.

Take profit (ATR / Pips): Multiplier to calculate take profit. It


will be based on a predefined number of pips or an ATR
multiplier depending on the Take profit mode input. For
example, if the ATR mode is used, an input of 2 will place the
take profit 2 times the current ATR away from the entry price. It
defaults to 3.

Block hour mode: To activate or deactivate the block hour


feature. It defaults to false, and it has the following options:

o True: Select to block trades to be closed or executed within


the specified hour.
o False: Select to allow trades to close during any time of the
day.

Block hour: To define the hour to block trades from closing. It


defaults to 0 and it follows a 0-to-23-hour format.

---Stop loss---: Informative parameter.

Stop loss mode: To control what calculation method will be used


for the stop loss levels. It defaults to ATR and it has the
following options:

o ATR: The ATR indicator will be used to calculate the stop loss
level.
o Pips: A regular pip-count based calculation will be used to
define the stop loss level.
04 .
ON
Stop loss in ATR: Multiplier to calculate stop loss. It will be
based on a predefined number of pips or an ATR multiplier
depending on the Stop loss mode input. For example, a
multiplier of 2 will place the stop loss 2 times the current ATR
away from the entry price. It defaults to 3.

---Grid Settings---: Informative parameter.

Grid mode: To calculate the distance between the operations. It


defaults to ATR. It has the following options:

o ATR: The ATR indicator will be used to calculate the distance.


o Pips: A regular pip-count based calculation will be used to
define the distance.

Grid Spacing (ATR / Pips): Multiplier to calculate the distance


between operations. It will be based on a predefined number of
pips or an ATR multiplier depending on the Grid mode input.
For example, if the ATR mode is used, an input of 2 will place
the Grid 2 times the current ATR away from the previous enter.
It defaults to 2.

---Oh poop Settings---: Informative parameter.

Oh poop: To activate or deactivate the Oh poop protocol. It


defaults to deactivated.

Oh poop mode: To control what calculation method will be used


for the Oh poop protocol. It defaults to Pips and it has the
following options:
14 .
ON
o ATR: The ATR indicator will be used to calculate the take
profit level.
o Pips: A regular pip-count based calculation will be used to
define the take profit level.

Oh poop: The value of the minimum profit threshold. It will be


based on a predefined number of pips or an ATR multiplier
depending on the Oh Poop mode input. It defaults to 20.0.

Recovery target: The new profit target in case the current


orders do not have at least the profit amount in pips or ATR
specified in the Oh poop input. It will be based on a predefined
number of pips or an ATR multiplier depending on the Oh Poop
mode input. It defaults to 10.0.

Oh poop hour: Time of the day in which the Oh poop protocol


is going to take effect. The value of the minimum profit
threshold must be reached at this hour to avoid the protocol
activation. It defaults to 4.

Early exit: To activate or deactivate the early exit feature. It


defaults to deactivated and it has the following options:

o Activated: Select to use the feature.


o Deactivated: Select to not use the feature.

Early exit mode: To control what calculation method will be


used for the Early exit protocol. It defaults to Pips and it has
the following options:

o ATR: The ATR indicator will be used to calculate the take


profit level.
24 .
ON
o Pips: A regular pip-count based calculation will be used to
define the take profit level.

Early exit: The value for the early exit profit target. If the Early
exit input is set to deactivated, the value specified in this input
will be used. Keep in mind that if the value is 10, it means the
system will look to take a loss of 10 pips (or ATR multiplier) or
less if the Oh poop protocol is triggered. It will be based on a
predefined number of pips or an ATR multiplier depending on
the Oh Poop mode input. It defaults to 10.0.

---Spread limit---: Informative parameter.

Spread limit: To activate or deactivate the spread limit feature.


It defaults to deactivated and it has the following options:

o Activated: Select to use the feature.


o Deactivated: Select to not use the feature.

Spread limit in ticks: To define the number of ticks allowed as


the maximum spread. Note that the input is on ticks and not
pips, so if the limit is 1 pip, the input should be 10 as 1 pip
equals to 10 ticks. If the current spread is above this value, the
expert advisor will not place any trades. It has no effect when
the spread limit input is deactivated. It defaults to 10.

---Offset settings---: Informative parameter.

Use offset: To activate or deactivate the use offset feature. It


defaults to deactivated and it has the following options:

o Activated: Select to use the feature.


34 .
ON
o Deactivated: Select to not use the feature.

Entry offset (points): The number of points by which the entry


will be offset. It defaults to 10.

Spread filter: To activate or deactivate the spread filter


feature. It defaults to deactivated and it has the following
options:

o Activated: Select to use the feature.


o Deactivated: Select to not use the feature.

Spread filter (points): Applies an offset equals to the


difference between the current spread and the spread filter
value, only if the current spread is above the filter value. For
example, if the spread filter value is 10 points and the current
spread is 30 points an offset of 20 points will be applied since
is the number of points in difference between the current
spread and the spread filter value. It defaults to 10.

Grid offset: To activate or deactivate the grid offset feature. It


defaults to deactivated and it has the following options:

o Activated: Select to use the feature.


o Deactivated: Select to not use the feature.

---Trading hours---: Informative parameter.

Trading hours: To activate or deactivate the trading hours


feature. It defaults to deactivated and it has the following
options:

o Activated: Select to use the feature.


44 .
ON
o Deactivated: Select to not use the feature.

Start hour: To define the time on which the system will start
searching for entries. It has no effect if the trading hours input
is deactivated. 0-to-23-time format. It defaults to 0.

Stop hour: To define the time on which the system will stop
searching for entries. It has no effect if the trading hours input
is deactivated. 0-to-23-time format. It defaults to 23.

Stop hour mode: To define the behavior when the stop hour is
reached. It has no effect if the trading hours input is
deactivated. It defaults to Close trades and it has the following
options:

o Close trades: The system will close all the orders opened by
the Expert Advisor on the selected pair once the stop hour is
reached.
o Keep trades: The system will maintain all the orders opened
by the Expert Advisor on the selected pair once the stop hour
is reached.

---Skip hours---: Informative parameter.

Skip hours: To activate or deactivate the skip hours feature. It


defaults to deactivated and it has the following options:

o Activated (1): The system will not trade on the defined hour in
the Hour 1 input (described below).
o Activated (1 and 2): The system will not trade on the defined
hours on the Hour 1 and Hour 2 inputs (described below).
54 .
ON
o Activated (1, 2 and 3): The system will not trade on the
defined hours on the Hour 1, Hour 2, and Hour 3 inputs
(described below).

Hour 1: To define the first hour to skip when using the skip
hours feature. It has no effect when the skip hours input is
deactivated. 0-to-23-time format. It defaults to 0.

Hour 2: To define the second hour to skip when using the skip
hours feature. It has no effect when the skip hours input is
deactivated. It has effect only when the Skip hours input is set
to Activated (1 and 2) or Activated (1, 2 and 3). 0-to-23-time
format. It defaults to 1.

Hour 3: To define the third hour to skip when using the skip
hours feature. It has no effect when the skip hours input is
deactivated. It has effect only when the Skip hours input is set
to Activated (1, 2 and 3). 0-to-23-time format. It defaults to 2.

---Weekly close---: Informative parameter.

Weekly close: To activate or deactivate the weekly close


feature. It defaults to deactivated and it has the following
options:

o Activated: Select to use the feature.


o Deactivated: Select to not use the feature.

Weekly close mode: It specifies the behavior when the weekly


close protocol is activated. It defaults to Close Trades. The
different modes are the following:

o Close Trades
64 .
ON
o Keep Trades

Open day: To define the day of the week to start the trading
operations, the expert advisor will start looking for trades on
the selected pair once the open hour (defined by the input
described below) is reached. It has no effect when the Weekly
close input is deactivated. 0 = Sunday, 1 = Monday… format. It
defaults to 1.

Open hour: To define the hour where the expert advisor will
start looking for trades on the selected pair once the open hour
is reached. It has no effect when the weekly close input is
deactivated. 0-to-23-time format. It defaults to 0.

Close day: To define the day of the week to close all the orders
that were opened by the expert advisor on the selected pair
once the close hour (defined by the input described below) is
reached. Once the close hour is reached within the selected day,
the expert advisor will stop looking for new potential trading
opportunities. It has no effect when the Weekly close input is
deactivated. 0 = Sunday, 1 = Monday… format. It defaults to 5.

Close hour: To define the hour to close all orders opened by the
expert advisor on the selected pair once the close hour is
reached. It has no effect when the weekly close input is
deactivated. 0-to-23-time format. It defaults to 23.

---Weekly schedule---: Informative parameter.

Monday: To allow trading during Monday. True means trading


is allowed, false means trading is not allowed. It defaults to
true.
74 .
ON
Tuesday: To allow trading during Tuesday. True means trading
is allowed, false means trading is not allowed. It defaults to
true.

Wednesday: To allow trading during Wednesday. True means


trading is allowed, false means trading is not allowed. It
defaults to true.

Thursday: To allow trading during Thursday. True means


trading is allowed, false means trading is not allowed. It
defaults to true.

Friday: To allow trading during Friday. True means trading is


allowed, false means trading is not allowed. It defaults to true.

---Bar time-out---: Informative parameter.

Bar time-out: To activate or deactivate the bar time-out


feature. It defaults to deactivated and it has the following
options:

o Break even mode: Select to have the following behavior: If


any given order opened by the expert advisor on the selected
pair is not at break even or in profits after the defined
number of bars since execution, specified in the bar time-out
input (See below), the system will close the order at market.
For example, if the bar time-out input is 5 and 5 bars have
gone by since order execution, and the order is at a loss, the
system will close it.
o Min profit mode: Select to have the following behavior: If
any given order opened by the expert advisor on the selected
pair is not at a minimum profit threshold (defined by either
an ATR multiplier or a predefined amount of pips, depending
84 .
ON
on the Bar time-out mode input, see below) after the defined
amount of bars since execution in the bar time-out input (See
below), the system will close the order at market. For example,
if the bar time-out input is 5 and 5 bars have gone by since
order execution, and the order is at a loss or at a profit below
the threshold, the system will close it.

o Deactivated: Select to not use the feature.

Bar time-out: To define the number of bars to wait for the


order to be at or above break even or at a minimum profit
(depending on the bar time-out input). It has no effect when the
bar time-out input is deactivated. It defaults to 5.

Bar time-out mode: To define the calculation method for the


minimum profit threshold of the bar time-out feature. It has no
effect when the bar time-out input is deactivated or set to
break even mode. It defaults to ATR and it has the following
options:

o ATR: The ATR indicator will be used to calculate the minimum


profit threshold level.
o Pips: A regular pip-count based calculation will be used to
define the minimum profit threshold level.

Bar time-out threshold (ATR / Pips): Multiplier of the ATR


indicator, or a predefined pip count number (depending on the
Bar time-out mode input) to calculate the minimum profit
threshold for the bar time-out feature. For example, a multiplier
of 2 while using the Bar time-out mode to ATR, will set the
minimum profit required to not close the order after the bar
time-out at 2 times the current value of the ATR indicator. It
94 .
ON
has no effect when the bar time-out input is deactivated or set
to break even mode. It defaults to 2.

Money Management
---Loss limit---: Informative parameter.

Loss limit: To activate or deactivate the loss limit feature. It


defaults to activated and it has the following options:

o Activated: Select to use the feature.


o Deactivated: Select to not use the feature.

Loss limit mode: To define the calculation method for the loss
limit feature. It has no effect when the loss limit input is
deactivated. It defaults to equity and it has the following
options:

o Balance: Select to use the account balance to calculate the


loss limit feature.
o Equity: Select to use the account equity to calculate the loss
limit feature.

Loss limit (%): To define the loss limit % threshold for the loss
limit feature. For example, if the input is set at 20, the system
will stop the expert advisor instance and close all open orders
opened by the expert advisor on the selected pair in the case
the account gets a 20% drawdown hit. It has no effect when the
loss limit input is deactivated. It defaults to 25.

---Manual lots---: Informative parameter.


05 .
ON
Lots (When not using Auto MM): To define the manual lot size
when the automatic money management is disabled. It has no
effect when the Auto MM input (see below) is deactivated. It
defaults to 0.01.

---Auto money management---: Informative parameter.

Auto MM: To activate or deactivate the automatic money


management feature. It defaults to activated and it has the
following options:

o Activated: Select to use the feature.


o Deactivated: Select to not use the feature.

---Risk profile---: Informative parameter.

Risk per trade (%): To define the account % (calculated over


equity) to risk on any given trade opened by the expert advisor
on the selected pair. For example, if set to 1 on an account with
$10 000.00, it will risk $100 per trade. The calculation involves
using a stop loss to calculate the required position sizing. It has
no effect when the Auto MM input is deactivated. It defaults to
1.

Risk mode: To define the behavior of the position sizing


calculation. It has no effect when the Auto MM input is
deactivated. It defaults to strict and it has the following options:

o Strict: Select to always round down the lot sizing if necessary.


o Flex: Select to round to the nearest lot size available if
necessary.
15 .
ON
Basket size: The number of trades per grid basket cycle. It
defaults to 6.

Reference: The reference capital that will be used for the lot
size calculations. If the value is 500, it will be 500 units of the
base currency in the account and will trade the amount of lots
specified in the Initial Sizing input. For example, if it is set to
500, the Initial Sizing input is set to 0.01, and the account has
1000, the lot size will be 0.02 since the account has double the
money specified in the input and the initial sizing is 0.01. It
defaults to 1000.

Initial Sizing: The lot’s initial sizing. It defaults to 0.01.

Scaling factor: The scaling factor for the lot size. It defaults to
2.0.

Recovery trigger: The number of trades needed to start


increasing the lot size per trade within the trade basket. The
increase factor will be specified by the scaling factor input. For
example, if the basket size is 6 and the recovery trigger is 3, the
trades 3, 4, 5, and 6 will gradually increase in size according to
the scaling factor input, if it is set at 2 then trade 3 will be
double the size of trade 2, trade 4 is going to be double the size
of trade 3 and so on. It defaults to 3.

Size boost: To activate or deactivate the size boost feature. It


defaults to deactivated and it has the following options:

o Activated: Select to use the feature.


o Deactivated: Select to not use the feature.
25 .
ON
Size boost multiplier: It will override the scaling factor in the
trade specified in the recovery trigger. For example, if the
recovery trigger is set to 3, the scaling factor to 2 and the size
boost to 3, the third trade of the sequence will have the
increase factor specified in this input instead of the one
specified in the scaling factor input. It defaults to 3.0.

Skip levels: To activate or deactivate the skip levels feature. It


defaults to deactivated and it has the following options:

o Activated: Select to use the feature.


o Deactivated: Select to not use the feature.

Skipped levels: To define how many trade levels will be skipped


at the start of a trade sequence. For example, if set to 3, the
trade levels 1, 2 and 3 will be voided, and the trade will trigger
until the price reaches the required movement to open where
trade 4 would be. It defaults to 3.
35 .
ON

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