EA Configuration Guide
This guide provides detailed information about all the configurable parameters in the TradeSgnl MT5 Expert Advisor. Understanding these settings is crucial for optimizing your trading performance and managing risk effectively.
Understanding Management Modes
Several EA features offer three control modes that determine how and when they activate. Understanding these modes helps you choose the right approach for your trading strategy.
Mode | Description | Best For |
|---|---|---|
Disabled | Feature is completely turned off and will not activate under any circumstances | When you don't want to use the feature at all |
Enabled | Feature is always active and uses the parameters you've configured in the EA inputs | When you want consistent behavior across all trades using your EA settings |
Signal | Feature activation and parameters are controlled by your webhook signals on a per-trade or per-strategy basis | When you want dynamic control through your webhook signals rather than fixed EA settings |
General Settings
Basic parameters for EA operation and signal handling
Parameter | Description | Importance |
|---|---|---|
License ID | Your unique license code provided by your license provider | Required |
Receive Trade Signals | Enable/disable receiving trade signals | Required |
Maximum Spread | Maximum spread in pips allowed for trade execution | Recommended |
Parameter Source | Source of trade parameters (Signal Parameters or EA Inputs) | Optional |
Pending Order Entry | How pending order levels are calculated (Pips from Current or Absolute Price) | Conditional |
Detailed Explanation
License ID: Your unique license code is provided after purchase. This code links your EA to your account and enables signal reception.
Parameter Source: This setting determines whether the EA uses parameters from incoming signals or from the inputs you set in the EA. When set to "Signal Parameters," trade settings like lot size, stop-loss, and take-profit come from the signal. When set to "EA Inputs," the EA uses the values you've configured locally.
Pending Order Entry: For pending orders (buy stop, sell limit, etc.), this determines how the entry level is calculated. "Pips from Current" means the level is calculated as an offset from the current price (e.g., 20 pips above for a buy stop), while "Absolute Price" allows you to specify the exact price level for entry.
Volume Settings
Parameters for controlling position sizing
Parameter | Description | Importance |
|---|---|---|
Volume Type | Method for calculating position size (Lots, Percentage of Balance, Percentage of Equity) | Required |
Volume (Risk) | Fixed lot size or risk percentage based on selected Volume Type | Required |
Take Profit | Default take profit in pips (0 = disabled) | Optional |
Stop Loss | Default stop loss in pips (0 = disabled) | Recommended |
Maximum Lot Size | Maximum lot size per trade (0 = no limit) | Recommended |
Maximum Total Lot Size | Maximum total lot size across all positions (0 = no limit) | Recommended |
Understanding Volume Settings
Volume Type: This setting determines how the EA calculates position sizes for your trades:
Lots: Uses the exact lot size you specify (e.g., 0.01 lots for every trade)
Percentage of Balance: Calculates lot size based on your account balance (e.g., 1% of balance)
Percentage of Equity: Calculates lot size based on your current equity (e.g., 1% of equity)
Maximum Lot Limits: These safety features prevent the EA from placing excessively large trades:
Maximum Lot Size: Caps the size of any single trade
Maximum Total Lot Size: Limits your total exposure across all open positions
Dynamic Sizing: When using percentage-based volume types, the EA recalculates position sizes with each new trade based on your current account balance or equity. This helps maintain consistent risk levels as your account grows or shrinks.
Risk Management
Parameters for controlling account risk and protecting capital
Parameter | Description | Importance |
|---|---|---|
Daily Drawdown Type | Method for calculating drawdown (Balance Based or Equity Based) | Optional |
Daily Drawdown % | Maximum daily drawdown percentage before closing positions and pausing EA (0 = disabled) | Recommended |
Max Drawdown % | Maximum total drawdown percentage before stopping the EA (0 = disabled) | Recommended |
Daily Profit Target % | Daily profit target percentage - EA pauses when reached (0 = disabled) | Optional |
Monthly Profit Target % | Monthly profit target percentage - EA stops when reached (0 = disabled) | Optional |
Trade Duration Limit | Maximum duration for trades in minutes (0 = disabled) | Optional |
How Risk Management Works
Continuous Monitoring: The EA constantly watches your account equity and compares it against your risk limits to protect your capital.
Daily Drawdown Protection: The EA tracks daily losses using two methods:
Balance Based: Measures losses from your starting balance each day
Equity Based: Measures losses from your highest equity point of the day (more sensitive)
Automatic Protection: When your daily drawdown limit is reached, the EA immediately closes all positions and pauses trading for the rest of the day to prevent further losses.
Maximum Drawdown Safety: If your overall account drawdown reaches the maximum limit, the EA closes all positions and completely stops trading to protect your capital.
Profit Targets: When you reach your daily or monthly profit targets, the EA can pause or stop trading to lock in your gains and prevent giving back profits.
Trade Duration Limits: The EA can automatically close trades that have been open too long, helping you avoid holding positions through major market events.
Daily Reset: Each new trading day, the EA resets daily limits and resumes trading (unless maximum limits were reached).
Trailing Stop Management
Parameters for automatic trailing stop functionality
Parameter | Description | Importance |
|---|---|---|
Trailing Stop Management | Trailing stop mode (Disabled, Enabled, or Signal) | Optional |
Trigger Distance | Price movement in pips required to activate trailing stop | Conditional |
Trailing Distance | Distance in pips to maintain between price and stop-loss | Conditional |
Step Size | Minimum price movement in pips required to adjust trailing stop | Conditional |
How Trailing Stop Works
Individual Trade Protection: Trailing stops work on individual trades, moving your stop-loss to lock in profits as the market moves in your favor.
Activation Point: The trailing stop only starts working after the price moves in your favor by the Trigger Distance amount. This prevents premature activation in choppy markets.
Step-by-Step Movement: Once activated, the stop-loss moves in steps based on your Step Size setting. Smaller steps mean more frequent adjustments; larger steps provide more breathing room.
Trailing Distance: This controls how far behind the current price your stop-loss trails. A larger distance gives trades more room but offers less protection.
One-Way Movement: The stop-loss only moves in your favor - it never moves against you, ensuring you never lose more protection than you already have.
Real-Time Updates: The EA continuously monitors price movements and adjusts stop-losses automatically without manual intervention.
Profit Protection: As trends develop, trailing stops help you capture larger moves while protecting against sudden reversals.
Pyramid Management
Parameters for managing multiple positions with the same comment (strategy)
Parameter | Description | Importance |
|---|---|---|
Pyramid Management | Pyramid management mode (Disabled, Enabled, or Signal) | Optional |
Volume Calculation | Method for calculating profit target (Initial Volume, Total Volume, or Average Volume) | Conditional |
Direction Lock | Restrict pyramid trades to the same direction | Conditional |
Separate Buy/Sell Pyramids | Manage buy and sell positions separately within the same strategy | Conditional |
DCA Filter | Only allow entries at better prices than the previous entry | Conditional |
Enable Pyramid Trailing | Enable trailing stop for pyramid target exit | Conditional |
Pyramid Target | Profit target in pips for the pyramid strategy | Conditional |
Trailing Distance | Distance in pips for pyramid trailing stop | Conditional |
Trailing Step | Step size in pips for pyramid trailing stop | Conditional |
Overlap Threshold | Minimum number of trades before profit overlap feature activates | Conditional |
Overlap Profit % | Percentage of profit to use for overlapping trades | Conditional |
How Pyramid Management Works
Strategy Grouping: Pyramid Management groups all trades with the same comment into a single strategy. Instead of managing each trade individually, the EA treats them as one coordinated position with a combined exit target.
Volume Calculation Methods: The EA can calculate your strategy's profit target using different approaches:
Initial Volume: Target based only on your first trade's volume
Total Volume: Target scales with the combined volume of all trades
Average Volume: Target based on the average volume across all trades
Direction Control: Direction Lock restricts new pyramid entries to the same direction as your existing positions, preventing mixed buy/sell strategies within the same pyramid.
Separate Buy/Sell Management: When enabled, buy and sell positions within the same strategy are managed independently with separate profit targets, useful for ranging markets.
DCA Filter: Dollar Cost Averaging filter ensures new entries only occur at better prices than previous entries. For buy strategies, new trades must be at lower prices; for sell strategies, at higher prices.
Pyramid Trailing: When enabled, your strategy's profit target becomes a trailing target that moves favorably with the market, locking in larger profits while protecting against reversals.
Overlap Feature: When you have enough trades in a strategy (Overlap Threshold), the EA can use a percentage of existing profits to fund new entries, reducing overall risk.
All-or-Nothing Exit: When the strategy reaches its target, all trades in the group are closed simultaneously, ensuring you capture the intended profit from the entire pyramid.
Pyramid Levels
Parameters for controlling pyramid level structure and trade entry conditions
Parameter | Description | Importance |
|---|---|---|
Multiply All Level Trades | Apply lot multiplier to all trades in a level | Conditional |
Lot Size Multiplier | Multiplier for lot size in subsequent pyramid levels | Conditional |
Trade Limit Per Level | Maximum trades allowed per pyramid level (0 = unlimited) | Conditional |
Level Size | Price distance in pips between pyramid levels | Conditional |
Level Size Multiplier | Multiplier for increasing level size at each level | Conditional |
Trade Limit Increase | Amount to increase trade limit after specified levels | Conditional |
Limit Increase After | Number of levels before increasing trade limit | Conditional |
How Pyramid Levels Work
Pyramid Levels control the structure and spacing of your pyramid entries, determining when and how additional trades are added to your strategies.
Level Structure: The EA organizes pyramid trades into price-based "levels." Each level represents a specific price zone where trades can be opened, with Level 0 being your initial entry.
Level Size and Spacing: Level Size defines the price distance (in pips) between pyramid levels. Level Size Multiplier increases this distance for each subsequent level, creating wider spacing as price moves further from your initial entry.
Example: With Level Size = 10 pips and Level Size Multiplier = 1.5:
Level 0: Initial entry at any price
Level 1: 10 pips away from initial entry
Level 2: 15 pips away from Level 1 (10 × 1.5)
Level 3: 22.5 pips away from Level 2 (15 × 1.5)
Position Sizing per Level: Lot Size Multiplier increases trade sizes for higher levels. With a 2.0 multiplier, Level 1 trades are twice the size of Level 0. When "Multiply All Level Trades" is enabled, all trades within the same level use the increased lot size.
Trade Limits per Level: Trade Limit Per Level controls how many trades can be placed at each level, preventing excessive position building. This limit can increase over time using the Trade Limit Increase settings.
Dynamic Limit Increases: Trade Limit Increase and Limit Increase After work together to gradually allow more trades at higher levels. For example, if you start with 2 trades per level and increase by 1 after every 3 levels, you'll have: Levels 0-2 (max 2 trades), Levels 3-5 (max 3 trades), Levels 6-8 (max 4 trades), etc.
Recovery Management
Parameters for automatic recovery trading during drawdowns
Parameter | Description | Importance |
|---|---|---|
Recovery Management | Recovery system mode (Disabled, Enabled, or Signal) | Optional |
Volume Calculation | Method for calculating recovery profit target (Initial Volume, Total Volume, or Average Volume) | Conditional |
Maximum Trades | Maximum number of recovery trades allowed (0 = disabled) | Conditional |
Initial Distance | Price distance in pips for first recovery trade | Conditional |
Distance Multiplier | Multiplier for distance in subsequent recovery trades | Conditional |
Lot Multiplier | Multiplier for lot size in subsequent recovery trades | Conditional |
Recovery Target | Profit target in pips for recovery trades | Conditional |
How Recovery Management Works
Warning: Recovery trading is a high-risk strategy that attempts to recover losses by adding positions at more favorable prices. Use with extreme caution and thorough backtesting.
Loss-Based Triggers: When a trade moves against you by the Initial Distance amount, the EA automatically places a recovery trade in the same direction at the current (better) price.
Progressive Spacing: Each additional recovery trade is placed further away than the previous one. The Distance Multiplier controls how much further each level gets spaced out.
Increasing Position Sizes: Recovery trades get progressively larger based on your Lot Multiplier setting. This helps bring down your average entry price more quickly.
Group Management: The original trade and all recovery trades are managed as one group. Individual stop-losses and take-profits are removed to prevent premature closure.
Combined Profit Target: The EA monitors the total profit/loss of all trades in the recovery group. When the combined result reaches your Recovery Target, all trades are closed together for a net profit.
Safety Limits: The Maximum Trades setting prevents runaway scenarios by capping how many recovery trades can be placed per original position.
Smart Exit: When successful, recovery typically results in a small net profit despite the initial losses, as the better entry prices on recovery trades offset the losses from the original trade.
Hedge Management
Parameters for automatic hedging during drawdowns
Parameter | Description | Importance |
|---|---|---|
Hedge Management | Hedge management mode (Disabled or Enabled) | Optional |
Hedge Trigger | Loss in pips required to trigger hedge position | Conditional |
Hedge Volume | Percentage of net position volume to use for hedge | Conditional |
Hedge Take Profit | Take profit in pips for hedge positions | Conditional |
Hedge Stop Loss | Stop loss in pips for hedge positions | Conditional |
How Hedge Management Works
Strategy Protection: Hedge Management monitors your pyramid strategies and automatically opens protective positions when losses reach dangerous levels.
Loss Detection: The EA tracks the worst-performing trade in each strategy. When that trade's loss exceeds your Hedge Trigger (in pips), hedging activates.
Opposite Direction Protection: The hedge position opens in the opposite direction to your main strategy. If your strategy is net long, it opens a sell hedge; if net short, it opens a buy hedge.
Proportional Sizing: The hedge size is a percentage of your total strategy exposure. For example, with 50% hedge volume and 1.0 lot total exposure, the hedge would be 0.5 lots.
Independent Management: Hedge positions have their own take-profit and stop-loss levels, allowing them to be managed separately from your main strategy.
One Hedge Per Strategy: Each strategy can only have one active hedge position to keep things simple and manageable.
Risk Reduction: While your original trades may continue losing, the hedge position gains value in the opposite direction, reducing your overall exposure and limiting maximum drawdown.
News Filter
Parameters for avoiding trading during high-impact economic news
Parameter | Description | Importance |
|---|---|---|
Enable News Filter | Enable/disable news filter functionality | Optional |
Impact Level | Minimum news impact level to filter (1-Low, 2-Medium, 3-High) | Conditional |
Minutes Before News | Minutes before news event to stop trading | Conditional |
Minutes After News | Minutes after news event to resume trading | Conditional |
How News Filter Works
Market Event Protection: The News Filter helps you avoid trading during high-impact economic news events that can cause sudden, unpredictable price movements.
Impact Level Filtering: You can choose which news events to avoid based on their expected market impact:
Low Impact (1): Minor economic releases with minimal market effect
Medium Impact (2): Moderate economic releases that may cause volatility
High Impact (3): Major economic releases likely to cause significant market movements
Automatic Pause: When a filtered news event approaches, the EA automatically stops opening new positions for the specified time period before and after the event.
Existing Positions: The EA continues to manage existing positions during news events but won't open new ones, helping you avoid entering trades just before major market volatility.
Smart Timing: The EA resumes normal trading operations automatically after the specified post-news period, ensuring you don't miss trading opportunities once the volatility settles.
Session Filter
Parameters for restricting trading to specific time periods
Parameter | Description | Importance |
|---|---|---|
Enable Session Filter | Enable/disable session filter functionality | Optional |
Monday Session | Trading hours for Monday (format: HH:MM-HH:MM) | Conditional |
Tuesday Session | Trading hours for Tuesday (format: HH:MM-HH:MM) | Conditional |
Wednesday Session | Trading hours for Wednesday (format: HH:MM-HH:MM) | Conditional |
Thursday Session | Trading hours for Thursday (format: HH:MM-HH:MM) | Conditional |
Friday Session | Trading hours for Friday (format: HH:MM-HH:MM) | Conditional |
Saturday Session | Trading hours for Saturday (format: HH:MM-HH:MM, 00:00-00:00 = disabled) | Conditional |
Sunday Session | Trading hours for Sunday (format: HH:MM-HH:MM, 00:00-00:00 = disabled) | Conditional |
Close All Trades at Friday Session End | Automatically close positions at Friday session end | Conditional |
Friday Closing Hour | Hour to close positions on Friday (0-23, broker time) | Conditional |
Minimum Daily Profit % for Friday Closure | Minimum daily profit percentage required for Friday closure | Conditional |
How Session Filter Works
Time-Based Trading Control: Session Filter allows you to restrict trading to specific hours on each day of the week, helping you avoid low-liquidity periods or align with your preferred market sessions.
Individual Day Control: Each day of the week can have its own trading hours, giving you complete flexibility to trade only during optimal times for your strategy.
Format: Use 24-hour format (HH:MM-HH:MM) for session times. Setting a day to "00:00-00:00" completely disables trading for that day.
Weekend Management: Saturday and Sunday are typically set to "00:00-00:00" since forex markets are closed, but you can enable them for markets that trade on weekends.
Friday Closure Settings: Special settings help manage positions before the weekend:
Auto-Close: Automatically close all positions at Friday session end
Profit Requirement: Only close positions if daily profit meets the minimum threshold
Broker Time Zone: All session times use your broker's server time zone, ensuring accurate timing regardless of your local time.
Miscellaneous
Additional configuration options
Parameter | Description | Importance |
|---|---|---|
CSV File Name | Base name for CSV file when using CSV signals | Conditional |
Exits From CSV | Process exit signals from CSV file | Conditional |
Timezone Offset | Time offset in hours from UTC for CSV file processing | Conditional |
Global Breakeven | Display global breakeven line on chart | Optional |
Strategy Target Lines | Display strategy target lines on chart | Optional |
Magic Number | Unique identifier for trades placed by this EA | Optional |
Magic Number Restriction | Only manage trades with matching magic number | Optional |
Debug Logs | Enable detailed debug messages in logs | Optional |
TradeSgnl Analytics | Collect and send trade statistics to server | Optional |
Additional Features Explained
CSV Signal Processing: These settings control how the EA processes signals from CSV files:
CSV File Name: Base name for your signal files (EA adds date stamps automatically)
Exits From CSV: Whether to process exit signals from the CSV file or rely on EA's own exit logic
Timezone Offset: Adjusts CSV timestamps to match your broker's time zone
Visual Indicators: Chart display options to help you monitor EA performance:
Global Breakeven: Shows a line representing your overall breakeven price across all positions
Strategy Target Lines: Displays target levels for each pyramid strategy on the chart
Trade Management: Core settings for trade identification and tracking:
Magic Number: Unique identifier that distinguishes this EA's trades from others
Magic Number Restriction: Whether the EA should only manage trades with its own magic number
System Features: Technical options for debugging and analytics:
Debug Logs: Enables detailed logging for troubleshooting issues
TradeSgnl Analytics: Sends anonymous usage statistics to help improve the EA
Magic Number Best Practice: Use a unique magic number (different from other EAs) to prevent conflicts when running multiple trading systems on the same account.
Need Additional Help?
Our support team is ready to assist you with any questions you might have.