Parameters
You can access the Expert Advisor settings at any time to make changes to your settings when the EA is running. Simply right click on the chart and you will see Expert Advisors and select Properties.
Remember, each chart has separate settings. Changing one of the parameters on the GBP/USD chart will not affect the settings of the USD/CAD chart.
| Parameter | Description | Recommended values |
|---|---|---|
| Receipt | Enter your license key here. | |
| EABuy_Number | Unique identifier for all buy positions. | Number between 0 and 9999 |
| EASell_Number | Unique identifier for all sell positions. | Number between 0 and 9999 |
| Lots | Lot size for every new position opened, unless trade is in recovery (see CoveringLoss_Percent). The lot size depends on you account balance and risk profile. | Number between 0.01 and 50 |
| CoveringLoss_Percent | When a position closes with a loss, the next position will try to recover X % of the initial loss. 100 would be recovering 100% of the loss. 110 would be recovering 100% of the loss + 10%. 120 would be recovering 100% of the loss + 20%. If set to 0 the next position will simply use the Lots parameter. You may also set this to less than 100. The recovery percentage depends on you account balance and risk profile. | Number between 0 and 200 |
| MaxOrder | This limits the amount of consecutive loosing trades. If a given currency pair exceeds this number of losses in a row, it will stop placing new trades. | Number between 1 and 99 |
Sequences
To better understand how to use the parameters to set your preferred risk profile, we must first understand how the bot behaves. The following guide will use examples to show how the algorithm works.
How sequences work
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Single Chart Awareness: The EA operates only within the chart it's attached to and doesn't recognize other instances of the same EA running on different charts.
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Buy and Sell Differentiation: The EA distinguishes between buying and selling directions in trading.
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Directional Switching on Loss: If a trade in one direction (e.g., selling) incurs a loss, the EA switches to the opposite direction (e.g., buying).
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Loss Recovery Mechanism: When the EA returns to the original direction (e.g., selling) after a losing trade, it remembers the loss. To recover the loss, it opens a larger position based on a "recovery factor".
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Return to Original Lot Size on Win: If the recovery trade is successful, the EA reverts to the original lot size for all future trades in that direction.
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Directional Switch on Recovery Failure: If the recovery trade fails, the EA switches directions once again.
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Multiplier for Subsequent Losses: Each time the EA loses in a particular direction, the next trade in that direction will have its size multiplied by the "recovery factor" until a winning trade is achieved in that direction and it returns back to the initial lot size.