Settings
The R-50 bot offers a variety of different settings to control the risk and performance. The following guide will focus on explaining each individual setting and help you understand how to use them.
Server settings
| Setting | Description |
|---|---|
Username | Your email used for the purchase. |
Password | The password we provided to you. |
Local settings
| Setting | Description |
|---|---|
ForexSymbolSuffix | Any suffix used by your broker for Forex symbols. For example, if your broker refers to EURUSD as EURUSD.cx, then this parameter can be manually set to cx. If left blank, the EA will attempt to detect any suffix which its broker uses. If you want the EA to use no suffix, and not to use auto-detection, then set the parameter to "none" or "(none)" |
Accept/reject entry signals
| Setting | Description |
|---|---|
IgnoreNewEntrySignals | If turned on, the EA ignores all new trade entry signals - can be used to prevent the EA opening new trades, while continuing to manage existing ones. |
PermittedSymbols | If not blank, trades are ignored unless they are for symbols on this comma-separated list. This must exactly match the broker's names on the account, including upper/lower case such as EURUSD.fx, GBPUSD.fx |
BuySellOnly | If non-zero, restricts the direction in which the EA will place trades. A value of 1 means that the EA will only place buy orders; a value of 2 means that the EA will only place sell orders. (Zero means that all orders are accepted.) |
IncludeTradingTimes | Ignored if blank. Otherwise, defines a list of times each day during which the EA is allowed to trade; new order messages outside these times are ignored. |
DAY_TradingTimes | Similar to IncludeTradingTimes, but defines separate permitted ranges for each day of the week |
MaxSpreadPips | Blocks new orders if the current spread on the symbol is wider than the specified number of pips. A value of zero disables this check on the spread. |
Accept/reject exit signals
| Setting | Description |
|---|---|
IgnoreAllExitSignals | If turned on, the EA ignores all exit signals coming in - can be used if you want to manually control when trades should be closed. |
IgnoreExitSignalsForTicketIds | If not blank, a comma-separated list of ticket IDs which should not be managed by the EA. Allows some but not all trades to be controlled manually. |
Order management
| Setting | Description |
|---|---|
MagicNumber | A magic number to be used by the EA to keep track of its trades. If this is left at zero, the EA automatically picks a unique magic number. Each EA running in a copy of MT4/5 must use a different magic number. |
Lot sizing modes
info
The following settings are used in order. For example, EquityPerLot will only be used if UseFixedLotSize, UseRiskFactor and UseLotSizeMultiplier are turned off by setting them to zero (0).
| Setting | Description |
|---|---|
UseFixedLotSize | If not zero, the EA uses this fixed lot size instead of the value specified by the sender. Overrides UseRiskFactor and UseLotSizeMultiplier. |
UseRiskFactor | If not zero, tells the EA to trade a multiple of the original lot size based on the equity. An input value of 1 would indicate original risk, while 2 would translate to double the risk / return. This allows the account to adjust its trades based on the profits / losses. It is the recommended setting to control risk. |
UseLotSizeMultiplier | If not zero, modifies the lot size so that the EA uses this multiple of the original size, e.g. 0.1 to trade one-tenth of the original lot size. This is NOT recommended. |
EquityPerLot | If not zero, calculates the lot size based on the accounts equity, ignoring the original lot size. For example, if the receiver's account equity is $4,800, and EquityPerLot is $10,000, then the receiver will trade 0.48 lots. |
BalancePerLot | If not zero, calculates the lot size based on the accounts balance, ignoring the original lot size. For example, if the account balance is $3,200, and BalancePerLot is $10,000, then the receiver will trade 0.32 lots. |
CashRiskFixed | If not zero, a maximum cash amount (such as $100) to risk per trade. Requires that trades have a stop-loss, or for the FixedSLPips parameter to be set. Be careful since not all trades have an explicit set stop-loss (SL are set at a system level). |
CashRiskEquityPercentage | If not zero, a maximum percentage of your equity to risk per trade. Requires that original trades have a stop-loss, or for the FixedSLPips parameter to be set. Be careful since not all trades have an explicit set stop-loss (SL are set at a system level). |
CashRiskBalancePercentage | If not zero, a maximum percentage of your balance equity to risk per trade. Requires that original trades have a stop-loss, or for the FixedSLPips parameter to be set. Be careful since not all trades have an explicit set stop-loss (SL are set at a system level). |
NotionalDepositVolume | If not zero, instructs the EA to trade a fixed amount of the deposit currency. |
CalculateRiskFactorFromBalance | If turned on, risk-based lot sizing (UseRiskFactor) will be based on account balance, not account equity. |
Lot sizing limits and settings
| Setting | Description |
|---|---|
MaxLots | Ignored if UseFixedLotSize is turned on (i.e. non-zero). Caps a variable lot size calculation (e.g. from UseRiskFactor) so that it does not lead to a dangerously large value. If you want to prevent an order being traded, rather than capping its lot size, use IgnoreOrdersLargerThanLots. |
MinLots | Ignored if UseFixedLotSize is turned on (i.e. non-zero). Collars a variable lot size calculation (e.g. from UseRiskFactor) so that it does not lead to a value which is too small. If you want to prevent an order being traded, rather than capping its lot size, use IgnoreOrdersSmallerThanLots. |
LotSizingAlwaysRoundDown | If conversion of the original lot size leads to a value such as 0.0256, tells the EA always to round down (to 0.02) rather than rounding to the nearest permitted size (0.03). |
S/L nd T/P
| Setting | Description |
|---|---|
FixedSLPips | If non-zero, a fixed number of pips to use for the stop-loss on all trades. If this is turned on, then any stop-loss used originally will be ignored. You must turn on FixedSLPips in order to use any of the cash-risk lot-sizing modes such as FixedCashRisk. |
FixedTPPips | If non-zero, a fixed number of pips to use for the take-profit on all trades. If this is turned on, then any take-profit values used will be ignored. |
MinSLPips | Ignored if FixedSLPips is used. Otherwise, if non-zero, signals are amended so that the stop-loss on trades is never smaller than this number of pips. |
MaxSLPips | Ignored if FixedSLPips is used. Otherwise, if non-zero, signals are amended so that the stop-loss on trades is never larger than this number of pips. If the original trade does not specify a stop-loss then this number of pips will be used. |
MaxCashRiskPerTrade | If non-zero, trades are ignored if the potential loss is larger than this amount (in the account deposit currency), based on the lot size and stop-loss. Please note that this risk is calculated using the tick-value at the time of trade placement, and this can then vary while the trade is active. The risk calculation also does not include any slippage compared to the original entry price. |
MaxTPPips | If non-zero, signals are amended so that the take-profit on trades is never larger than this number of pips. |
TrailingStopPips | If non-zero, applies a trailing stop to all orders, overriding and ignoring any s/l specified. The EA uses a "classic" trailing stop which comes into effect immediately, unlike MT4/5's own trailing stops which only apply once an order is in profit. |
Account management
| Setting | Description |
|---|---|
StopTradingBelowEquity | If turned on (greater than zero), the EA stops taking new signals and attempts to close all its existing orders if the account's equity falls below this cash value. The EA does not close any orders which it is not responsible for - i.e. from other EAs or from manual trading. |
StopTradingAtDrawdownPercent | If turned on (less than zero), the EA stops taking new signals and attempts to close all its existing orders if floating P/L falls below the specified percentage of balance. The percentage must be entered as a negative number. For example, if the value were set to -40, then the EA would terminate if e.g. account profit fell below $-800 on a $2000 balance. The EA does not close any orders which it is not responsible for - i.e. from other EAs or from manual trading. |
MaxOpenOrders_Total | If non-zero, stops the EA taking new signals if the number of open/pending orders would exceed this value. For example, setting this parameter to 1 will stop the EA trading if there is already any open or pending order. The count includes all orders on the account, from any source, not just those created by the copier. |
MaxOpenOrders_FromCopier | As above, but the count only includes orders placed by the EA. There can be any number of orders from other EAs or from manual trading. |
MaxTradesPerDay_Total | If non-zero, stops the EA taking new signals if the total activity on the account has already reached this number of orders for the day. Includes all orders from all EAs and from manual trading, and includes open pending orders as well as open and closed trades (but not cancelled pending orders). |
CalculateProfitFromOwnOrdersOnly | By default, StopTradingAtDrawdownPercent is calculated using all the open trades on the account. Turning on CalculateProfitFromOwnOrdersOnly changes the calculation so that the Receiver only looks at the drawdown relating to its own trades, ignoring any other activity on the account. |
MaxTradesPerDay_FromCopier | As above, but the count only includes orders placed by the EA. There can be any number of orders from other EAs or from manual trading. |
MaxLosingTradesPerDay_Total | If non-zero, stops the EA taking new signals if the number of losing trades closed (not opened) today has reached the specified threshold. Includes all orders from all EAs and from manual trading. The count only applies to closed trades, not open positions. A limit of 1 does not prevent the EA from opening 5 concurrent trades which all turn out to be losers. |
MaxLosingTradesPerDay_FromCopier | As above, but the count only includes orders placed by the EA. There can be any number of orders from other EAs or from manual trading. |
Alerts and notifications
| Setting | Description |
|---|---|
UserDescription | Controls the description which is displayed in the top-right of the chart. |
LabelColour | Colour of the EA's text labels (may need to be changed if you alter the background colour) |
NewOrders_AlertOnScreen | If turned on, the EA displays an alert on screen about each new trade which it opens |
ClosedOrders_AlertOnScreen | If turned on, the EA displays an alert on screen about each trade which it closes |
RejectedOrders_AlertOnScreen | If turned on, the EA displays a message on screen about each order which it chooses not to trade (e.g. because the lot size is too large/small). |
Problems_AlertByEmail | Any problems requiring user attention are always displayed on screen. This setting determines whether the messages are also sent by email (using the MT4/5 settings in Tools/Options/Email) |
AlertIfHeartbeatMissingSeconds | If non-zero, generates an alert if the EA has not received a heartbeat from the server for this number of seconds |
NoHeartbeat_AlertByEmail | If turned on, the EA sends an email about not having an active heartbeat (using the MT4/5 settings in Tools/Options/Email) |
NoHeartbeat_AlertOnScreen | If turned on, the EA displays a message on screen about not having a heartbeat. |