Settings description

[Jared]

I finally released version 1.7. I decided to change the format of the instructions a bit. New instruction about ELM settings!​

​

Do you want ELM to work profitably for you? Follow my recommendations ​

- For full and profitable work of the advisor it is necessary to use VPS-server.
- Use brokers from the list of recommended brokers.
- Beware of fraudulent companies!
-Do not change the parameters, if you don't understand how they work.
- Install through a template following the installation instruction

ELM EA includes a wide range of parameters and settings, but our team has done everything possible for you.
Thus, the EA includes a number of standard templates with recommended settings, which should be compatible with most brokerage companies.
In addition, you can contact our technical support team and we will customize your account according to your preferences.

Settings Description​

VirtualStop_Loss - virtual stop loss invisible to the broker. It is recommended to change this value from 3 to 10.

VirtualTake if Rollback more then - a value that determines the speed of closing a deal. The rollback from the maximum value of the current candle is calculated. Use a value of 0.1 - 0.5 for trading in a volatile market and use a value of 0.5-1 for trading during news releases.

Take_Profit - a visible take that is sent in an order to open an order.

Stop_Loss - visible stop loss sent in an order to open an order.

Append On DroDown pp (0 = off) - Value through which a new deal will be opened

Append Size Of Base Lot (0 = off) - Lot increase factor

Append step koef - Increment factor for Append On DroDown pp parameter

AppendStepCnt - Maximum lot increment steps

EnableTrailingStop - OFF / ON / Virtual. Enable / Disable trailing stop.

TrailingStart - the number of profit points through which TrailingStop is activated.

TrailingStop - trailing stop level.

TrailingStep - trailing stop step.

EnableBreakeven - True / False. Virtual breakeven level.

BreakevenTrigger - The number of profit points to be transferred to breakeven.

BreakevenLevel - The breakeven level from the position opening price.

OrderOpenSlippage - slippage to open an order.

OrderCloseSlippage –slippage to close an order.

AutoSlippage - True / False (When OrderOpenSlippage is enabled, it is ignored). The Expert Advisor automatically calculates possible slippage based on the data entered into it.

AlwaysInMarket - True / False. When turned on, the lock will not close. When signals are received, one of the transactions in the lock will be closed and a new one will be opened.

MarketOrder - True / False, in case of True, the advisor sets S / L and T / P after opening an order. This function is required for accounts with Market execution.

Magic - Unique number used to identify EA orders.

Magic Auto– True / False unique number generated automatically.

AutoRisk - %% of balance - the risk per trade, defined as a% of free funds, if 0 the Lot parameter is used. On accounts where the leverage is too small,

it is recommended to use this parameter from 1-5%. On accounts where the leverage is more than 1: 500, you can use up to 10% risk.

Lot - fixed lot for trading.

MaxLot - the maximum possible lot when using the AutoRisk parameter.

UseSheduler - True / False. Whether or not to use the scheduler. The scheduler is applicable if AlwaysInMarket is enabled to avoid swaps.

StartTime - Trading start time.

EndTradeTime - Trade end time. After this time, no new trades are opened.

CloseTradeTime - Closing time of all trades.

Use News Sheduler - True / False

Disable Trade before News - Stop trade before news.

Close Existing - Close existing positions before release.

Indent after News, minutes - 0 disable news filter. Initialization in the specified number of minutes after the news release.

Your Time Zone - Enter the GMT time of your broker's terminal.

Enable hard news - Consider important news.

Enable medium news - Consider news of medium importance.

Enable light news - Consider news of low importance.

NewsSymb - Symbols by which to take into account news.

Everything we have developed is based on the most stable and secure algorithms. We would appreciate any feedback from you, thank you for your patience and for your continued enthusiasm and support.

 

[Butch1220]

Hi, Just joined and downloaded and installed MT4 on both Opti and Pro using Demo accounts for the time being.

Question:
I'm used to doing the ASSIGN TO A CHART underneath Expert Advisors (left side) with many different EA but yours....hmm, after watching your video about TEMPLATES for about 3 times to make sure I didn't miss a step or two.

At the moment, I've used at this method (OPTI) and LOADED each chart (6) in TEMPLATE for Optimum Demo then I did the ASSIGN TO A CHART so technically I have both in them.

Whereas....

with PRO Demo, I've set up all 26 pairs and I just do the ASSIGN TO A CHART (didn't do the loading *Template* for Pro Demo.

Am I good to go or did I miss something. I checked on a bunch of thread to find the Q/A that I was looking for so I've apologized in advance if I had missed it somewhere in the forum.

Look forward to hearing from anyone of you soon.

Thanks!

 

[Jared]

Hi, Just joined and downloaded and installed MT4 on both Opti and Pro using Demo accounts for the time being.

Question:
I'm used to doing the ASSIGN TO A CHART underneath Expert Advisors (left side) with many different EA but yours....hmm, after watching your video about TEMPLATES for about 3 times to make sure I didn't miss a step or two.

At the moment, I've used at this method (OPTI) and LOADED each chart (6) in TEMPLATE for Optimum Demo then I did the ASSIGN TO A CHART so technically I have both in them.

Whereas....

with PRO Demo, I've set up all 26 pairs and I just do the ASSIGN TO A CHART (didn't do the loading *Template* for Pro Demo.

Am I good to go or did I miss something. I checked on a bunch of thread to find the Q/A that I was looking for so I've apologized in advance if I had missed it somewhere in the forum.

Look forward to hearing from anyone of you soon.

Thanks!

Hello, thank you for post.

Can you please send me screenshot from log in expert tab?
I must error, which occur when you try install ea.

 

[Butch1220]

Here it is.... not sure which but I'm uploading/pasting both. Top Pic: Opti Bottom Pic: Pro

Let me know if you want me to get a SOLO CHART of each account to give you a clearer pics

 

[Jared]

Here it is.... not sure which but I'm uploading/pasting both. Top Pic: Opti Bottom Pic: Pro

Let me know if you want me to get a SOLO CHART of each account to give you a clearer pics

View attachment 4079


View attachment 4080

As I see it, you have not added an indicator. Please follow the installation instructions that you can find here - https://globalforexforum.com/threads/installing-an-expert-advisor-on-a-trading-account.178/

You need install from template. Also please check, that you copy all folders from archive with demo.

 

[Butch1220]

okay.... Instruction didn't help me but figured out with double click on the indicator to each chart so did on both OPTI and PRO. Am I pretty good to go to just stand by and monitor my trading accounts every now and then?

OPTI = Top
Pro = Bottom

 

[Anonymous]

I have a question about the maximum allowed spread parameter.
a) Not all currencies and brokers have the same minimum spread. Do I need to change that parameter when it is close to the standard value of 5 ?
b) Is that value in pip's or points
c) what is the maximum advisable value of that parameter and how to choose the right number.
d) If the EA wants to send an order does it check one or several times at the spread to let the trade happen.

 

[Mack]

I have a question about the maximum allowed spread parameter.
a) Not all currencies and brokers have the same minimum spread. Do I need to change that parameter when it is close to the standard value of 5 ?
b) Is that value in pip's or points
c) what is the maximum advisable value of that parameter and how to choose the right number.
d) If the EA wants to send an order does it check one or several times at the spread to let the trade happen.

a) I only tested EAs on pairs with a 2-3 pip spread.
b) As I understand all values in pips
c) I usually set this value to 2.
d) I think it checks once.

 

[instar]

what is scalping hedge mode? how does it work? I enabled it and it opened also trade with comment "virtual SL"

 

[mreams]

Can we get a summary description of the 3 different Bot modes? Scalping, scalping hedging, and scalping average. I think most people know of what scalping is but please summarize the other 2 options and how they work.

 

[Mxgain369]

Can we get a summary description of the 3 different Bot modes? Scalping, scalping hedging, and scalping average. I think most people know of what scalping is but please summarize the other 2 options and how they work.

Good question

 

[zombie]

Can we get a summary description of the 3 different Bot modes? Scalping, scalping hedging, and scalping average. I think most people know of what scalping is but please summarize the other 2 options and how they wor

Hi, I asked Jared about this question and here is what he said:

- Mode_hedge - allows you to increase the time of transactions. You can use it if your broker has a limit on the minimum transaction time. When using hedging, the algorithm opens a counter trade instead of closing it. I.e. the signal to close at mod_ hedging is a new signal for opening a new opposite deal. The multiplier is not used for the reason that all deals are opened with an identical lot

- Mode_scalping - There are no tricky and questionable order management practices. Everything works according to strict rules. If there are losing trades, we don't wait for the market to turn in the right direction, we close the loss. And we wait for new signals to enter new trades.
Because of this, the algorithm does not require a large margin, and the probability that the account will be completely lost is excluded.
Each deal is closed at Take Profit or Stop Loss.Methods of averaging and infinitely long stay in the drawdowns are not used

- Mode_scalping_avg - Position averaging. Perspective direction of the strategy. All trades are opened by the trend, based on an accurate signal of the direction of price movement. This is the main difference of our algorithm from any other robot that uses a martingale. We also use SL. When using this mode, it is best to choose the settings for each currency pair. Namely the size of TP and SL.

maybe this will help you find answers to your questions!

 

[Mxgain369]

Hi, I asked Jared about this question and here is what he said:

- Mode_hedge - allows you to increase the time of transactions. You can use it if your broker has a limit on the minimum transaction time. When using hedging, the algorithm opens a counter trade instead of closing it. I.e. the signal to close at mod_ hedging is a new signal for opening a new opposite deal. The multiplier is not used for the reason that all deals are opened with an identical lot

- Mode_scalping - There are no tricky and questionable order management practices. Everything works according to strict rules. If there are losing trades, we don't wait for the market to turn in the right direction, we close the loss. And we wait for new signals to enter new trades.
Because of this, the algorithm does not require a large margin, and the probability that the account will be completely lost is excluded.
Each deal is closed at Take Profit or Stop Loss.Methods of averaging and infinitely long stay in the drawdowns are not used

- Mode_scalping_avg - Position averaging. Perspective direction of the strategy. All trades are opened by the trend, based on an accurate signal of the direction of price movement. This is the main difference of our algorithm from any other robot that uses a martingale. We also use SL. When using this mode, it is best to choose the settings for each currency pair. Namely the size of TP and SL.

maybe this will help you find answers to your questions!

Thank for this information

 

[sosopol]

Hi
I did every thing as you mention in installing set up
and check
2022.09.19 02:02:08.465 [ELM EA]_Pro_Demo_2.1[MT4] EURUSD,H1: Connect to License Server, OK
but the EA statue (wait 5minutes then restart MT4) I restart the MT4 and the same thing is there any error

 

[zombie]

Hi
I did every thing as you mention in installing set up
and check
2022.09.19 02:02:08.465 [ELM EA]_Pro_Demo_2.1[MT4] EURUSD,H1: Connect to License Server, OK
but the EA statue (wait 5minutes then restart MT4) I restart the MT4 and the same thing is there any error

I think, colleague, on such issues it is best to contact technical support.

 

[John G]

Jared, I'm not quite clear, what percentage in the "Autorisk" parameter should I set at a leverage of 1:500? Thank you very much!

 

[Jared]

Hi !
It's an excellent question, I myself do not like to work with large leverage, as a large leverage size, correlates to a large risk when trading forex. so do not recommend increasing this value over 2-2.5%. In your case, I would start with a small value, for example 1%, and then increase it as the algorithm works more efficiently.
What broker do you work with and what is your deposit size?

 

[John G]

Thanks Jared, I will definitely take your advice into account as it always works for me. That is why I want to invest my funds in your development. I see the meaning and future of your project. That is why I am with you.