The input params of a ForecastCycles MT4 Expert Advisor

Forecastcycles offers downloadable MT4 Expert Advisors (MT4 EA), that join Seasonality and Indicators to optimize entry and exit time and price.

These are the common settings (input parameters) of each EA, divided by sections.

EA INFO

• EA Name
  • the unique name of the EA in the Portfolio
• Symbol Name MT4
  • the name of the Symbol of Metatrader 4 given by the broker.
  • Examples in Activtrades: "Usa500" is the S&P 500 | "EURUSD" is Euro vs US Dollar | "LCrude" is WTI Crude Oil | "Soybns" is Soybeans | "UsaTB" is US 30y bond price
• Category
  • the asset class of the instrument, used to compute the exit time adjusted by weekdays and major holidays.
  • Cryptocurrencies are open 24/7 while other instruments 24/5.
• Magic Number
  • it is very important
  • it the unique identifier of the order in the entire portfolio.
  • Rules:
    • In an EA all Magic Numbers must be different
    • In a portfolio of EAs all Magic Numbers must be different
  • If rules are not respected, an EA will manage an order belonging to another EA.

MAIN PARAMETERS

• Direction
  • long or short

MONEY MANAGEMENT

• "MM Mode" and "MM Value" the size of the trade that the EA will open. There are 3 choices:
  • Fixed Lots
    • Example: 0.01 means that each trade size will be 0.01 lots
    • Note: each instrument can have a different minimum lot size. Is possible to see it by right-clicking the instrument in 'Market Watch' => click 'Specifications' => read 'Minimal Volume'
  • Equity Percentage
    • Example: "0.01" means that each trade will lose 1% of Equity if the Stop-Loss will be triggered.
  • Fixed Money
    • Example: "10" means that each trade will lose 10 if the Stop-Loss will be triggered.
    • 10 is based on the Account Currency that can be Euro, Dollars, etc.

TRADE MANAGEMENT

• From here is possible to set Stop-Loss, Take-Profit, and Risk-Free levels.
  • "Stop-Loss" (SL) is the level to exit from a trade in loss
  • "Take-Profit" (TP) is the level to exit from a trade in gain
  • "Risk-Free" (RF) is the level, computed from the Entry-Price of the trade, to move the Stop-Loss equal to the Entry-Price. So if the price will come back, it will exit with no-profit and no-loss.
• Mode and Value there are 4 choices for each one, let's use the Take Profit to do examples:
  • "No Take Profit"
  • "Percentage" example: if TP Value is "0.025", the TP will be set at 2.5% distance from the entry-price.
  • "ATR multiple" example: if TP Value is "2", the TP will be set at the double of ATR(14) from the entry-price.
  • "Price, in Points" example: if TP Value is "500", the TP will be set at 500 points of distance from the entry-price. The point is the smallest unit for measuring the price of the instrument

Entry Months allowed
To set the months in which the EA is allowed to open new trades.

Entry Weekdays allowed
To set the weekdays in which the EA is allowed to open new trades.

Entry and Exit Filters

Entry Filters
The filters allows to filter the trades. The EA will enter in a trade only if all filter conditions are satisfied.

Exit Filters
These filters allows to exit from a trade before the time of exit is reached. The EA will exit from a trade only if all filter conditions are satisfied.

Each filter has its associated Timeframe in which it will be computed:

• 'Current' means that it will be the same of the Chart Period, but
• it is recommended to choose the timeframe among the list [1m, 5m, 15m, 30m, 1h, 4h, 1d, 1w, 1mo] to avoid errors.

These are the filters:

• ADX
  • The ADX (Average Directional Index) is an indicator to measure how strong is a trend. It goes from 0 (min strength) to 100 (max strength). It can be computed using different peridos (5, 14, etc.)
  • Example "ADX(5) > 30" means "ADX(5) is now greater than 30"
• Body Range Ratio
  • The Body formula is "absolute(close - open")
  • The Range formula is "high - low"
  • Example: "Body < 50% Range" means "the last candle has a body that is lower than 50% of the Range"
• RSI
  • The RSI (Relative Strength Index) is a momentum indicator that measures the magnitude of recent price changes to analyze overbought or oversold conditions. It goes from 0 (oversold) to 100 (overbought). It can be computed using different peridos (5, 14, etc.)
  • Example "RSI(14) < 60" means "RSI(14) is now lower than 60".

• Consecutive Bull/Bear candles
  • Example "2 cons. Bull Candles": The previous 2 candles were bullish (close > open)
• Consecutive Higher/Lower Highs and Lows
  • Example "2 cons. higher High&Low": each one of the previous 2 candles has higher high and low than its previous candle.
• No gap filters
  • O[0] < HH[3] means "the last Open (shift 0) is lower than the Higher High of the last 3 candles (from shift 1 to 4)". The market has not openend in a gap-up.
• Breakout (or not) filters
  • C[1] > HH[1]: means "the last close (shift 1) was higher than the 1 period Higher High (shift 2)". The price has breakout the higher high of 1 period.
  • C[1] < LL[3]: means "the last close (shift 1) was lower than the 3 periods Lower Low (shift 2 to 5)". The price has breakout the lower low of 3 periods.

• Price and Moving Average
  • Moving average used is exponential (EMA).
  • Example 1: "P > MA 100" means the last close was above the 100 periods Moving Average.
  • Example 2: "PP > MA 100" means the last 2 closes were above the 100 periods Moving Average.
• Fast and Slow Moving Averages
  • Moving average used is exponential (EMA).
  • Example: "MA 50 > MA 200" means that the MA 50 is above the MA 200.

Tags

• EA MT4