News Filter (to run in a live chart)

The news filter is commonly used to avoid sending trades some hours before or after important news. You can set what currencies the EA will check to detect the important news as well as filter news events by the name of the news. The news is from the MQL5 Calendar. You can also use the news filter for other things that you want; for example, only send trades in a news event or close trades in advance of such events. In the event that this feature is used for other purposes, it may require extra capabilities. This premium feature can only be used in live charts and not in historical data for backtesting using the strategy tester. If you want to use it in the strategy tester, add the premium feature “News Filter (to run in the strategy tester)”.

News Filter (to run in the strategy tester)

The news filter is commonly used to avoid sending trades some hours before or after important news. You can set what currencies the EA will check to detect the important news as well as filter important news by the name of the news. Given that the strategy tester doesn’t have an internet connection, you will receive a CSV file with the news saved from 2011 up to four months in the future. If, after 4 months, you want the new file with 4 new months, you can request them for an extra $10 per request. You can also use the news filter for other things that you want; for example, only send trades in a news event or close trades in advance of such events. In the event that this feature is used for other purposes, it may require extra capabilities. This premium feature can only be used in historical data for backtesting using the strategy tester. If you want to use it in a live chart, add the premium feature “News Filter (to run in a live chart)”.

Add funding company rules

Add the funding company common rules like maximum daily drawdown, overall max drawdown, stop trading after reaching profit target, and close trades before the weekend (news filter not included; it can be added as an extra premium capability).

Premium Dashboard

The dashboard can show real-time statistics that you want, such as:

• Profit and number of trades won and lost in a specific period.
• Current account balance and drawdown.
• Current profit of the day.
• Statistics about inside EA calculations, like the average candle length of the last 3 candles.
• Average risk-reward ratio of trades sent.
• Time has passed since the last trade was sent.

You can tell the developer the color of the background, frame, and letters that the dashboard will have, as well as the position (if you want to add buttons to the dashboard, it will require adding another premium capability called “Manage trades with buttons in the chart”).

Draw lines or objects based on complex conditions

Make the EA draw lines, arrows, rectangles, Fibonacci, text, labels, etc. in the chart based on specific rules you want, such as:

• Draw lines every day from the beginning of the day till the end in the highest and lowest prices of the day. Each new day, two new lines are created.
• Draw horizontal lines based on the peaks of the zigzag indicator; if the line is crossed more than twice, delete the line.
• Draw arrows below each candle that make a hammer or engulfing pattern.

If the conditions to draw the objects are too complex, the creation of an indicator will be needed instead of drawing the objects with the EA. In that case, the indicator development is according to the prices of the indicators section.

Analyze objects (rectangles, lines, etc) in other charts

In the event that you want to run indicators in different timeframes and the indicator draws objects such as rectangles or lines, you will need to use this capability to be able to detect with the EA the rectangles and lines drawn in the other charts. It isn’t needed to run the indicator in different timeframes if the indicator does not draw objects and uses buffers.

Manage trades with buttons in the chart

This allows you to manage the trades using buttons in the chart window, so you can activate the breakeven, send new trades, close partially or totally the trades, move the SL, etc. with the buttons. They could also be used in premium dashboards to manage the EA and show real-time data on the dashboard.

Time Filter

It allows you to set the hours and minutes the EA can send trades. So if you set it from 03:30 to 23.00 for example, the EA can only send trades between this range of hours and not outside this range. You can set more than one hour range if you want (specify). It can also be used to not send trades in hours of high spread or to trade only in specific sessions.

Day Filter

You can customize the EA’s trading days by setting input parameters to true or false. It will allows you to select which days it can send trades and which days it cannot.

Trailing Stop

It is commonly used to start moving the StopLoss at a specific distance (input) from the current price or using an indicator like ParabolicSAR after the price moves a specific distance from the entry price, securing profits if the order reverses.

Breakeven

It is commonly used to secure profits by moving the StopLoss to the entry price of the trade once the price moves a certain distance in positive direction from the entry price.

Partial Closure

It is commonly used to close a certain portion of an open trade based on specific rules. For example, close 25% of the total volume of the trade once the price has reached 50% of the distance between the entry price and the Take Profit.

Close trades according to specific rules

It is commonly used to totally close an open trade based on specific rules. For example, close the trade if candle 1 (the previous candle) closes below a Moving Average.

Loss limit

It is commonly used to limit the overall loss or daily loss of the account given an amount of money that you set in the input. For example, if you set the maximum daily loss to $200, if the equity falls by $200 on this day, the EA will close all the trades and stop working until the next day.

Profit limit

It is commonly used to limit the overall profit or daily profit of the account given an amount of money that you set in the input. For example, if you set the maximum daily profit to $200, if the equity rises by $200 on this day, the EA will close all the trades and stop working until the next day.

Drawdown limit

It is commonly used to limit the overall drawdown or daily drawdown of the account, given a percentage that you set in the input. For example, if you set the maximum daily drawdown to 5%, if the equity falls 5% on this day, the EA will close all the trades and stop working until the next day.

Magic Number

The magic number is a number that you can set in the inputs of the EA. It allows you to use the same EA on the same pair using different charts without considering the trades of the other charts. So, if you want to run the same EA with different settings in the same symbol (pair), you can set different magic numbers to each EA to avoid mixing the trades of each EA. Otherwise, one EA will consider the trades sent by the other EA with different settings. You can run EAs on different pairs simultaneously without needing the magic number.

Increase lot size based on consecutive losses

It is commonly used in martingale EAs to increase the lot size of the trades automatically, given the number of consecutive losses and a multiplier. For example, if you set a multiplier of 2, the initial lot size to 0.10 and we suppose there are 4 trades lost in a row, the first trade will be sent with 0.10 lots, the second with 0.2, the third with 0.4, the fourth with 0.8, and so on.

Send pop-up alerts, emails, and phone notifications

It is commonly used to send alerts in a pop-up window in the Metatrader (PC), send emails with alerts or notifications to the Metatrader on the phone. These alerts can be used in different situations, for example, when a new trade is sent or when a moving average is crossed. The configuration of where to send the emails and phone notifications is set in the Metatrader Tool tab, but the explanation is not included (the explanation can be found in the forums of the Metatrader website).

Account number restriction and expiration date

It is commonly used to restrict the usage of the EA to specific account numbers or to make the EA stop working after a specific date that is placed in the code. You can change the account number and date inside the code with an explanation. You just have to give the executable EA without the code with all the restrictions inside in case you want to distribute the EA.

Basic dashboard

The Basic dashboard can show up to five real-time simple statistics that you want, such as:

• Profit and number of trades won and lost in a specific period.
• Current profit of the day.
• Statistics about inside EA calculations, like the average candle length of the last 3 candles.
• Average risk-reward ratio of trades sent.
• Time has passed since the last trade was sent.

The basic dashboard will appear with a transparent background in the top left corner of the chart. You can opt for the Premium Dashboard in the premium capabilities to be able to modify the color of the background, frame, and letters that the dashboard will have, as well as the position (if you want to add buttons to the dashboard, it will require adding another premium capability called “Manage trades with buttons in the chart”).

Change automatically chart colors

It allows you to specify the properties of the chart, such as background color, foreground color, grid, candle body color, candle wick color, bid and ask price colors, etc. So every time you set the EA on the chart, you don’t have to change the chart colors manually; they will change automatically.

Draw lines or object based on simple conditions

It is commonly used to draw arrows, lines, rectangles, and other objects based on basic rules, such as: drawing an arrow every time a trade is sent; drawing a horizontal line where the partial closure will be made; drawing a vertical line where the last trade was closed; etc.