===================================================================================== POW BANKER EA Settings ===================================================================================== Trading direction Maximum Slippage Magic Number Max Orders (In One Way) Show Info ===================================================================================== Sequence Settings ===================================================================================== Pip Step Pip Step Exponent ===================================================================================== Take Profit Settings ===================================================================================== Take Profit Lock Profit Trailing Stoploss ===================================================================================== Lot Size Settings ===================================================================================== Lot Size Lot Size Exponent ===================================================================================== Trading Time Filter ===================================================================================== Close All Trades & Disable EA Truse/False Day To Close Time of Close (Hour) Time of Close (Minute) Restart EA After Close Truse/False Day To Restart Time Of Restart (Hour) Time Of Restart (Minute) ===================================================================================== Custom Trading Session Times ===================================================================================== Custom Trading Times Truse/False Time to start trading (Hour) Time to start trading (Minute) Time to finish trading (Hour) Time to finish trading (Minute) ===================================================================================== Equity Protector Settings ===================================================================================== Max Loss % (Based On Equity ) Max Daily Running loss (In Currency) Profit Close % (Based on Equity) Restart EA After Close Truse/False Time Of Restart ( hour) Time Of Restart (minute) ===================================================================================== RSI SETTINGS ===================================================================================== Use RSI Criteria Truse/False RSI Timeframe RSI Period Sell Level (Above Allow Sell) Buy Level (Below Allow Buy) ===================================================================================== Funded Trader Programme Conditions (For Strategy Tester Only) ===================================================================================== Use Controlled Conditions True/False Profit Close % (Based on Equity) Max Daily Running Loss (In Currency) Max Loss Allowed % (Based On Equity) ==================================================================================== ========================================================== POW BANKER EA Settings ========================================================== Trading direction; Long/Short IF LONG, EA WILL ONLY PLACE BUYS IF SHORT, EA WILL ONLY PLACE SELLS IF LONG & SHORT, EA WILL PLACE BUY AND SELL LIKE NORMAL ---------------------------------------------------------- MAXIMUM SLIPPAGE ; 100 -Max slippage allowed ---------------------------------------------------------- magic number ; 111 ---------------------------------------------------------- Max Orders (In One Way) ; 100 -Max orders EA will open in one direction ---------------------------------------------------------- Show info; TRUE/FALSE Shows info on the chart for; - Open P&L - Profit Close - Max Daily Loss - MAX LOSS ---------------------------------------------------------- ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ ========================================================== Sequence Settings ========================================================== Pip Step; 20 -pip step = pip step gap for the next trade to enter --------------------------------------------------------------- Pip Step Exponent; 1.2 -pip step gap multiplier ( 1.2 = 20% larger gap for each trade) ---------------------------------------------------------------- ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ ============================================================== Take Profit Settings ============================================================== Take profit ; 100 -Take profit = final take profit for all trades (in one direction ) to close 100 = 100 pips -------------------------------------------------------------- Lock profit ; 30 -lock profit = lock profit is the profit in pips from the BE level on the sequence. once ea sequence hits this level... the trailing stoploss will be triggered -------------------------------------------------------------- Trailing Stoploss ; 10 - trailing stoploss = once ea hits lock profit, the trailing stop loss will place an SL on all orders on the sequence xxx pips from the lock profit level -------------------------------------------------------------- ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ =============================================================== Lot Size Settings =============================================================== Lot Size ; 0.50 Lot Size = Lot size ea will start with --------------------------------------------------------------- Lot Size Exponent ; 1.2 Lot Size Exponent = lot size multiplier ( 1.2 = lot size will increase by 20% for each extra trade placed in the same sequence) --------------------------------------------------------------- ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ ================================================================ Trading Time Filter ================================================================ Close All Trades & Disable EA; True/False Close All Trades & Disable EA = if set too true, ea will close all trades and disable EA on day and time set ---------------------------------------------------------------- Day To Close ; (drop down list of days of the week) monday, tuesday, wednesday, thursday, friday day to close = if set to friday, ea will close on friday (see below for time) ---------------------------------------------------------------- Time of Close (hour); 21 Time of Close (minute) ; 00 = The ea will automtically stop trading and shut down ALL open trades on friday at 9pm ---------------------------------------------------------------- Restart EA After Close; True/False Restart EA After Close = If true, the EA will restart the EA on the day and time below ---------------------------------------------------------------- Day To Restart ; (drop down list of days of the week) monday, tuesday, wednesday, thursday, friday day to restart = if set to monday, ea will restart and start trading on the next monday (see below for time) ---------------------------------------------------------------- Time Of Restart (hour) ; 09 Time Of Restart (minute) ; 00 = This would mean the EA would restart on monday at 09:00AM ---------------------------------------------------------------- ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ ================================================================ Custom Trading Session Times ================================================================ Custom trading session True/False = if set too true, the ea will only wont between these times... ---------------------------------------------------------------- Time to start trading; 08:30 Time to finish trading; 14:00 = This would mean the EA would allow trades to be placed from 08:30am till 14:30pm in the same day if we get too 14:30 and we have trades open... the ea will close them and disable ea till the next day. once we get too 08:30 the next day, the ea will automatically restart. ---------------------------------------------------------------- ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ ================================================================= Equity Protector Settings ================================================================= Max Loss % ( based on equity ) ; 10 Max loss = If we drag the ea onto the chart and balance is $1000. this means once EQUITY of the account reaches 10% of INITIAL BALANCE ($900 in equity) the ea will close all trades and disable itself (no restart) ----------------------------------------------------------------- Max Daily Running loss ( In Currency ) ; 100 max daily running loss = once OPEN trades hits the max daily running loss set, the ea will close ALL trades - ignoring what has already been made in the day. you could make $5k in the morning, but if open drawdown hits -100. the ea will close and disable. ----------------------------------------------------------------- Profit Close % (Based on Equity) ; 10 profit close = again.. this is basd off the balance when the ea is attached onto the chart... example = if you drag EA onto $1000 account, The EA will shut down all open trade and disable EA IF the Equity of the account goes over 10% ($1100) its Important that this is EQUITY! For example, closed balance could be $1200 but if open drawdown is -$150, the equity target hasnt been hit. ----------------------------------------------------------------- Restart EA After Close ; True/False = This if for the ''Max daily runnig loss'' input... - If true, the ea will restart automatically the next day on the time set below. ----------------------------------------------------------------- Time of restart ( hour) ; 01:00 Time Of Restart (minute) ; 00:00 = EA will restart automatically the next day at 01:00 AM -------------------------------------------------------------------- ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ ==================================================================== RSI SETTINGS ==================================================================== RSI Timeframe ; (drop down list of RSI timeframes ) rsi timeframe = once rsi levels are hit. EA will then start trading. ( 1 min, 2 min, 3 min, 4 min, 5 min, 6 min, 8min, 10 min, 15 min, 20 min, 30 min, 1hr, 2 hr, 3 hr, 4hr, 6 hr, 8 hr, 10 hr, 12 hr, 1 day , 1 week, 1 month ) ----------------------------------------------------------------------- RSI Period ; ------------------------------------------------------------------------ Sell Level (Above Allow Sell) ; 90 = once price goes up and hit rsi 90 level, the ea will start/allow trading for SELLS ------------------------------------------------------------------------ Buy Level (Below Allow Buy) ; 10 = Once price come down and hits rsi 10 level, the ea will start.allow trading for BUYS ------------------------------------------------------------------------- Use RSI Criteria ; True/False = if true, ea will only trade once rsi criteria is met. If false, ea will start trading as soon as ea is dragged onto chart ------------------------------------------------------------------------- ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ ===================================================================================== Funded Trader Programme Conditions (For Strategy Tester Only) ===================================================================================== This feature is only used when you set the MT5 strategy tester too ''complex criterion max'' on the optimization tab. This feature will help us detarmine the pass, fail and retry rate of settings we use on the EA - speciafically for FUNDED TRADER PROGRAMMES. Funded trader programmes are companies who fund traders with their capital once you prove your profitable. They give you challenges to pass, for example... you have a 100k account, you have to make 10% in a month but you have a max daily loss of 5% and a max overall loss of 10%... if you make 10% within the 30 days WITHOUT violating the max loss and max DAILY loss then you PASS the challenge if you lose/ equity of the account dips below 10% of initial balance, you will have FAILED. if by the end of the 30 days you HAVE NOT violted any rules but the account is ABOVE the initial balance ( in profit), you then get a free RETRY! SO... having a custom backtest criteria allows us to test what chances you have of passing, failing or getting a free retry on the settings your using/testing. this was coded before so the test will start on the 1st and end on the 1st. ----------------------------------------------------------------------------------- Use Controlled Conditions; True/False Use Controlled Conditions= If true, theses settings will control the backtester when set too ''Complex Criterion Max'' If false,it will be ignored. ------------------------------------------------------------------------------------ Profit Close % (Based on Equity) ; 10 profit close = Once the ea has made 10% in equity, the ea will close all trade and stop trading until the 1st of the next month. ( then because we have made the 10% before 30 days is over, this will show as a PASS oin the journal log) ------------------------------------------------------------------------------------ Max Daily Running Loss (In Currency); 4500 Max Daily Running Loss (In Currency)= No matter what profit has been made earlier in the day, as soon as the OPEN trades reach -4500, the ea will shut all trades down and restart automatically the next day ------------------------------------------------------------------------------------ Max Loss Allowed % (Based On Equity); 10 Max Loss Allowed % (Based On Equity)= when the equity of the account reaches 10% overall loss on the account from the intial balance, the ea will shut all trades down and stop trading ( this will then be recorded as a FAIL in the journal) example, account starts on $100,000 , if the account equity at any point hits $90,000, the EA will close and stop trading. ------------------------------------------------------------------------------------ Thats all of the settings explained.... below is an overview on how the EA works. of course, if your unsure on anything, let me know. So first we will focus on the EA with RSI OFF! You drag the EA onto the chart... stright away youll get a buy and sell place at the same time ( inline with the lot size inputted) now.. if price goes up, your BUY will be in profit and your SELL will be in loss... what will happen now is the BUY will now follow the lock profit and trailing stop loss parmeters set, and of course the TP if price goes that far... If the buy was to hit lock profit and quickly hit the trailing stoploss it would bank small profit. then a new BUY would enter. this will do the same over and over again if price continues to go up. AT THE SAME TIME, the sells will then start placing trades against the trend inline with the lot size, lot size expo, pip step and pip step exponent. The ea should always auto calculate where the BREAKEVEN level is as more and more positions are added. becauese from that BE level, the lock profit will be moving with it (inline with whatever lock profit is set on the inputs) -------- when price reverses, all the sells as a whole sequence will close once either the trailing stop loss has been hit (after lock profit gets triggered) OR we hit the TP. ---- Sometimes you will get it where price goes up and opens a few sells but then reverses while we still have a buy on. if this happens the EA will automatically layer trades for the buys IF price come down below the entry level by the pip step set on the inputs so youll get times where price is STUCK in sequences in BOTH directions (multiple buy & sells open) =================================================== RSI CRITERIA = TRUE This is exactly the same concept but BUY and sell trades will only get placed once the RSI criteria is met AND the candle has closed ABOVE the rsi level