Market Master MT5

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Inputs

• Lot Size: This is the Volume size in fixed Lots that you wish to use for each trade.

• Use AutoLots?: Set to True if you want the EA to automatically adjust the Volume size according to your Account Balance as it changes.

• AutoLots Division (of Account Balance): The value entered here will be used to divide your Account Balance resulting in the Volume size to be used. This only applies when using AutoLots.
  • Example: If your Account Balance is 10,000 and the value entered here is 100,000, the caluculation will be as follows: 10,000 / 100,000 = 0.10 Lots.

• Entries Start Time (Server): This is the time that the EA will start looking for entry signals each day. Note: This should be set according to your MT5 platform’s Server time (not your local time).

• Entries Stop Time (Server): This is the time that the EA will stop looking for entry signals each day. Note: This should be set according to your MT5 platform’s Server time (not your local time).

• Trade Direction: Here you can select whether you want the EA to take only Buy trades, only Sell trades, or Both.

• Allow Hedging (When Trade Direction = Both): This input only applies when trading in both direction (as mentioned above). When set to True, the EA will be able to be in both Buy & Sell trades simultaneously. When set to False, the EA will ignore Sell signals when a Buy trade is currently running, and vice versa.

• Max Positions (per Buy/Sell Side): This is the maximum amount of Buy/Sell positions that the EA will open. Note: When allowing the EA to trade in Both directions (mentioned above), this will apply to each the Buys and the Sells.
  • Example: When the Trade Direction is set to Both, a value of 4 would mean a maximum of 4 Buy positions and 4 Sell positions (8 positions in total).
  • Risk Warning: Generally speaking, the higher the value here, the higher the risk becomes. My preferred value is 4, but it is up to each individual to do their own testing and determine their risk tolerance. It is possible to significantly reduce risk by using a value of 1.

• Grid Step (in Pips): When using more than one Buy/Sell position, the value entered here will be used to determine at which point of drawdown (in Pips) another position will be opened by the EA. Note: This is known as Dollar Cost Averaging (DCA) where further positions opened whilst in drawdown reduces the cost of your overall position.
  • Example: The EA enters a Buy trade at the 1.150 price level. The position goes into drawdown and the EA enters a second Buy position at 1.100. Across the two positions, the average entry level is now 1.125 (a 0.025 cost reduction of the original entry).

• Step Multiplier: When using more than one Buy/Sell position, this value determines the amount that the current Volume size will be multiplied by for the next position.
  • Risk Warning: Generally speaking, the higher the value here, the higher the risk becomes. My preferred value is 2, but it is up to each individual to do their own testing and determine their risk tolerance. It is possible to significantly reduce risk by using a value of 1.

• Profit Target (in Pips): The value entered here will be used by the EA to determine the amount of profit (in Pips) that needs to be gained before closing a successful trade.

• Use Drawdown Stop Loss?: Set to True if you would like the EA to close all running trades if a certain amount of drawdown is reached.

• Drawdown Limit (in % of Account Balance): When using the Drawdown Stop Loss, the value entered here determines the maximum amount of Drawdown that can be reached before all of the trades running are automatically closed by the EA.

• Magic Number: This is the unique number that your MT5 platform uses to identify the EA when multiple EAs are being used.