Expert4x CandleTrader EA Candle Trader Expert Advisor Users Guide

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Expert4x CandleTrader EA
August 11, 2017

Contents
Copyright Notices...........................................................3
Getting Started with the CandleTrader EA...................... 4
2.1 Installing the CandleTrader EA................................................................... 4
2.2 CandleTrader Expert Advisor First Time Activation....................................... 7

System Requirements.................................................. 11
3.1
3.2
3.3
3.4
3.5
3.6
3.7
3.8

Operating System Requirements.............................................................. 11
Hardware Requirements.......................................................................... 11
MetaTrader (MT4) Requirements and Settings............................................ 11
Forex Broker Requirements..................................................................... 11
Hedging Support Requirements................................................................ 11
Non-FIFO Support Requirements.............................................................. 12
Account Type and Minimum Lot Size Requirements..................................... 12
ECN/STP Broker Accounts....................................................................... 12

CandleTrader EA Configuration Guide...........................13
4.1 Configuration and Operation Principles...................................................... 13
4.2 CandleTrader EA Parameter Descriptions....................................................14
4.2.1 CandleTrader EA Parameter Descriptions.........................................14
Trading Logic Settings.................................................................14
Position Management.................................................................. 16
Day of Week & Time of Day Entry Filter........................................18
Operations Settings.................................................................... 21

Knowledgebase............................................................ 23
5.1
5.2
5.3
5.4
5.5
5.6
5.7

Sad Face Instead of Smiley Face After Attach............................................ 23
EA Is Not Starting Up After Attach to Chart............................................... 24
No Updates to Chart...............................................................................24
Prompted for Access ID at Service Access Settings..................................... 25
Backtest In Visual Mode Not Working....................................................... 26
Backtest Not Working............................................................................. 27
Step-by-step Installation of an Expert4x EA or Indicator..............................28

Operational Messages.................................................. 33
6.1
6.2
6.3
6.4
6.5
6.6
6.7
6.8

Message
Message
Message
Message
Message
Message
Message
Message

1001........................................................................................34
1002........................................................................................35
1006........................................................................................36
1007........................................................................................36
1008........................................................................................37
1017........................................................................................38
1018........................................................................................39
2118........................................................................................39

Support........................................................................ 41
Index............................................................................................ 42

Chapter

Copyright Notices
Copyright©2017 – Expert4x, all rights reserved. This eBook is intended for the
purchaser’s personal use only. No part of this eBook may be reproduced or transmitted in
any form whatsoever, electronic, or mechanical, including photocopying, recording, or by
any informational storage or retrieval system without expressed written permission from
Expert4x.
Copyright©2017 EAfactory, all rights reserved. All title, including but not limited to
copyrights, in and to the MakeMoney EA and any copies thereof are owned by EAfactory
or its suppliers. All title and intellectual property rights in and to the content which may
be accessed through use of the MakeMoney is the property of the respective content
owner and may be protected by applicable copyright or other intellectual property laws
and treaties. All rights not expressly granted are reserved by EAfactory. For the full details
please refer to the End-User License Agreement ("EULA")

Chapter

Getting Started with the CandleTrader EA
Getting Started provides a guided exploration of the CandleTrader EA. It is geared for an
audience that has little or no knowledge of installing MT4 EA. It walks the novice user
through downloading and installing the CandleTrader EA.

2.1 Installing the CandleTrader EA
The CandleTrader EA comes with a setup application to provide a wizard based installation
process to the selected MT4 terminal.

Before you start...
• Ensure that you have the login credentials to the Web Support Centre.
• Ensure that you have an MT4 terminal version 4.00 build 1090 or later installed.
1. Exit MT4 if it was running.
2. Log in to the Web Support Centre.

3. Select the desired service and download the setup application with the latest version.
4. Run the setup application. Select the MT4 instance during setup to where you want
the service installed.
5. When setup completes start up MT4. CandleTrader EA entry should appear under the
EA node in the Navigator window (View > Navigator)
These pictures highlight the steps how to install the EA.

The setup application lists the available MT4 instances. Select one of them for installation
target and click Next.
Note:
For some earlier version Windows version the list may not contain all the MT4 instances.
In this case use the Add target directory... button to navigate and pick up the desired
folder.

For earlier Windows versions the typical MetaTrader installation location could be
C:\Program Files\BrokerSpecificName\
but you may have selected something else while performing the MetaTrader installation.
As a hint, the following shows you the default path to the main MT4 directory for some
brokers:
Broker
IBFX broker

Default Path
C:\Program Files\Interbank FX Trader

Tallinex broker

C:\Program Files\Tallinex MetaTrader 4

ODL UK broker

C:\Program Files\ODL MetaTrader 4

Always select the main MT4 folder itself for installation target, not any of its subdirectories.

When the installation is complete, start up MT4 and check that the EA appears in the
Navigator window (View > Navigator):

So everything is set up for the first activation of the CandleTrader Expert Advisor .

2.2 CandleTrader Expert Advisor First Time Activation
Step by step guide to get the EA up and running on a chart for the first time.
The following pictures demonstrate the first time activation of the CandleTrader Expert
Advisor in a few steps.

Attach the EA to a chart
1. Drag & drop the CandleTrader Expert Advisor from the Navigator window (View >
Navigator) to a chart window and select the Common tab:

Note: Ensure that the
• Allow live trading,
• Allow DLL import and
• Allow import of external experts
are checked.
2. Select the Inputs tab:

This lists the parameters of the EA where the operational aspect of the CandleTrader
EA can be set up. For more details see the CandleTrader EA Configuration Guide – for
now click OK and let the EA start up with default settings.
Note:
At the very first time the EA may prompt for the Access ID to verify that the usage of
product is licensed.
The Access ID is pre-configured and is the same as the login name to the web
support site. Feel free to change your Access ID at the Web Support Centre and
ensure not to share it with anyone else. Enter the Access ID and click Save:

The CandleTrader EA is up and running
After successful authentication the CandleTrader EA starts up.

The CandleTrader Expert Advisor has been attached to the chart. The smiley face in the
top-right corner shows that the initialisation of the CandleTrader Expert Advisor was
successful and the EA is now looking for trading opportunities.
See the smiley face in the corner:

In case of a problem getting the EA up and running please refer to the Knowledgebase
section.

Chapter

System Requirements
Overview of prerequisites in order to install and get the product up and running.

3.1 Operating System Requirements
In order to operate the CandleTrader EA a Microsoft Windows operating system is required
which supports MetaQuotes MetaTrader version 4.0 platform.
Note that the MetaQuotes MetaTrader software is also known and often referred to as
MT4.

3.2 Hardware Requirements
The minimum Random Access Memory (RAM) requirement is 384MB, however 512MB
RAM is recommended to avoid extended virtual memory usage. Note that this memory
requirement is for MetaTrader application only, excluding other applications running at
the same time (e.g. MS Office). If other applications are running parallel with MetaTrader
application please increase the RAM requirement accordingly.

3.3 MetaTrader (MT4) Requirements and Settings
The EA is compatible with MetaQuotes MetaTrader platform version 4.00 build 1090 or
higher. In general this is referred to as MT4 terminal, build 1090 or newer.

3.4 Forex Broker Requirements
The CandleTrader EA is compatible with both 4 and 5-digit data feeds based brokers. The
CandleTrader EA automatically detects the type of the feed and adjusts the EA parameter
pip values if and when necessary.
Both fixed and variable spread broker platforms are supported.
The selected MetaTrader based broker should allow keeping open orders on the account
for long period of time, i.e. the broker should not close and re-open orders over night for
swap calculation, or should not merge open orders for any reason.
IMPORTANT: For smooth trade management the MetaTrader application and the EA
should be on-line, up and running during all market open hours (usually Sunday to
Friday).

3.5 Hedging Support Requirements
The EA may open BUY as well as SELL positions at the same time on the same market.
Because of this the broker account must support the hedging of trades.

3.6 Non-FIFO Support Requirements
The CandleTrader EA may open and close positions out of order of the first-in-first-out
(FIFO) sequence. Therefore the broker account must support the order handling in nonFIFO manner.

3.7 Account Type and Minimum Lot Size Requirements
A so-called Micro broker account is necessary if the available funds for the EA trading
is less than approx. $1000. The micro account allows the EA to open a position with
minimum lot size of 0.01. If you plan to use a broker account with the above funding
please ensure that your broker account offers this minimum lot size.
An easy way to double check the minimum lot size available on the broker account is to
attach the EA to a chart and check the Market Info section on the chart:

The Lot line shows Min:0.01 which tells that the minimum lot size requirement is 0.01 on
this broker account.

3.8 ECN/STP Broker Accounts
Many brokers offer Electronic Communications Network (ECN) or Straight Through
Processing (STP) accounts. Common behaviour for these accounts is the variable spread
and market orders where no initial stop loss and take profit targets can be specified. In
this case the market order must be submitted with no SL and TP values, and these values
are to be set in the second step using an additional order to the opened ticket.
The CandleTrader EA is compatible with the above ECN/STP broker accounts and needs no
additional settings to operate on them.

Chapter

CandleTrader EA Configuration Guide
The CandleTrader EA configuration guide.
In order to activate the CandleTrader EA attach it to a chart window – for more details see
CandleTrader EA First Time Activation section.

4.1 Configuration and Operation Principles
The CandleTrader EA operational overview.
The CandleTrader EA manages only those tickets (a.k.a positions) on the account which
belong to the CandleTrader EA: every order submitted to the account is marked with the
MagicNumber and, in return, only those tickets on the account will be considered by the
CandleTrader EA which are marked with this MagicNumber.
In general it is recommended to run on an account one EA at a time. This helps
understanding the ongoing trades and troubleshoot situation if and when needed.
While this maybe feasible for demo accounts this may not be feasible for live accounts
where there could be the need to execute multiple expert advisors on the same account at
the same time.
Using multiple expert advisors on the same account is only viable if each and all expert
advisor will follow the above MagicNumber principle and they manage only their own
tickets on the account.
IMPORTANT: If you plan to use multiple expert advisors (other than the
CandleTrader EA) on the same account please ensure upfront with the expert
advisor providers that their EA's are suitable for that as per the above.
If you plan to use multiple CandleTrader EA's on the same account at the same time
please ensure that the MagicNumber is set to different and unique number for each chart
of the same market.
Here are few examples:
Market

MagicNumber

EURUSD chart 1

8300

EURUSD chart 2

8301

EURUSD chart 3

8302

GBPUSD chart 1

8310

GBPUSD chart 2

8311

GBPUSD chart 3

8312

USDCAD single chart

EA default or any other

USDCHF single chart

EA default or any other

4.2 CandleTrader EA Parameter Descriptions
The CandleTrader EA parameter descriptions.

4.2.1 CandleTrader EA Parameter Descriptions
The CandleTrader EA parameter descriptions.

Bar

Height

Bar

Minimum

Trading Logic Settings
Minimum Bar Height of Previous Bar
A bar can only trigger new trades if its actual height is equal to, or greater than the value
of this Minimum Bar Height of Previous Bar parameter. The height of the previous bar is
calculated as the difference between the bar's high and low. When the bar's high and low
are equal, then the bar's height is zero.
The actual trade entries are placed as per the selected Entry Method, in line with the
Allowed Trade Direction settings.

Method

Entry

Related reference
Entry Method on page 14
Allowed Trade Direction on page 15
Position Management on page 16
Day of Week & Time of Day Entry Filter on page 18
Operations Settings on page 21

Entry Method
The way new trade entries are performed when the market price reaches the high or
the low of the previous bar. The new trade entry can be selected for bouncing (i.e. price
reversal) or breakout (i.e. price continuation) scenario.

Entry Method

Description

Bounce: Sell @ High, Buy The EA performs price reversal trades according to
@ Low
the following rules:
• When bid price reaches or goes beyond the
the HIGH of the previous bar: a SELL trade is
entered.
• When bid price reaches or goes beyond the
the LOW of the previous bar: a BUY trade is
entered.
Breakout: Buy @ High,
Sell @ Low

The EA performs price breakout trades according to
the following rules:
• When bid price reaches or goes beyond the
the HIGH of the previous bar: a BUY trade is
entered.
• When bid price reaches or goes beyond the
the LOW of the previous bar: a SELL trade is
entered.

Maximum of one SELL and one BUY trade can be open at any time. This means that no
new SELL trade is entered if there is an open SELL trade, similarly no new BUY trade is
entered if there is an open BUY trade on the account for this EA instance. Furthermore, a
new SELL or a new BUY trade can only be entered once per bar. If a trade is entered and
gets closed off during the same bar, then no new trade gets entered until the next bar.
No new trade is entered if the height of the previous bar is below the minimum configured
size - see Minimum Bar Height of Previous Bar on page 14.
Keep in mind that new trades may only get entered by the EA if that direction is enabled see Allowed Trade Direction on page 15.

Direction

Trade

Allowed

Related reference
Minimum Bar Height of Previous Bar on page 14
Allowed Trade Direction on page 15
Position Management on page 16
Day of Week & Time of Day Entry Filter on page 18
Operations Settings on page 21

Allowed Trade Direction
Controls the type of trades, buy or sell entries, the EA may execute.

Allowed Trade
Direction
Long (Buy) Only Allowed

Description
The EA may enter the following trade types:
• Long (Buy) trades: Enabled.
• Short (Sell) trades: Disabled.

Short (Sell) Only Allowed

The EA may enter the following trade types:
• Long (Buy) trades: Disabled.
• Short (Sell) trades: Enabled.

Long & Short Allowed

The EA may enter the following trade types:
• Long (Buy) trades: Enabled.
• Short (Sell) trades: Enabled.

The actual trade entries are placed as per the selected Entry Method, in line with the
Minimum Bar Height of Previous Bar settings.
Related reference
Minimum Bar Height of Previous Bar on page 14
Entry Method on page 14
Position Management on page 16
Day of Week & Time of Day Entry Filter on page 18
Operations Settings on page 21

Limits

Trade

Position Management

Max Spread for Position Entry
Max Spread for Position Entry

Sizing

Position

The maximum value of the current market spread the EA is allowed to perform market
entry, i.e. to open a new position. If the current spread of the market exceeds this limit
then the EA will not consider to open position until after the spread drops to or below this
value.

Position Sizing Method
Position Sizing Method
The position sizing mechanism used for new trades at market entry.

Position Sizing Method
Percent of Account Free
Margin

Description
The lots for new position is calculated based on
• Free Margin available on account, and
• Initial Risk Percent, and
• Initial SL for New Position
The lots for the new position is calculated in a way
that should the initial SL get hit the loss would not
be higher than the risk percent of the free margin.

Position Sizing Method

Description

Percent of Account Equity The lots for new position is calculated based on
• Equity available on account, and
• Initial Risk Percent, and
• Initial SL for New Position
The lots for the new position is calculated in a way
that should the initial SL get hit the loss would not
be higher than the risk percent of the equity.
Percent of Account
Balance

The lots for new position is calculated based on
• Balance available on account, and
• Initial Risk Percent, and
• Initial SL for New Position
The lots for the new position is calculated in a way
that should the initial SL get hit the loss would
not be higher than the risk percent of the account
balance.

Manual Lot Size

The lots for the new position is not calculated by the
EA, instead it is fixed and set to the user-defined
value from Lots for Manual Lot Size.

The position sizing calculation takes place at the time of market entry, when all the entry
criteria are met.
The calculated lots value is normalized according to the minimum lots size and lots
stepping requirements of the MT4 terminal. Therefore the actual risk amount may vary
and will be a best effort and approximate of the configured target risk value.
Furthermore, the market conditions (e.g. fast price movements) or the MT4 operational
conditions (e.g. lost connectivity to broker) may alter the actual exit point of an open
trade, resulting in higher or lower actual risk compared to the configured target risk value.
Related reference
Initial Risk Percent on page 17
Lots for 'Manual Lot Size' on page 17

Initial Risk Percent
Initial Risk Percent
Determines the risk amount allocated to a new trade as a percent of the broker account
value. For more details see the Position Sizing Method
Related reference
Position Sizing Method on page 16

Lots for 'Manual Lot Size'
Lots for Manual Lot Size
Sets the fixed lot size for new positions to this user-defined value when the Manual Lot
Size option is selected for Position Sizing Method.
Related reference
Position Sizing Method on page 16

Target

Stop

Initial

Initial SL for New Position
Initial SL for New Position, Pips
The Stop Loss value in pips for a new position, set after market entry. This must be set to
higher than zero.
Related reference
Position Sizing Method on page 16

Take Profit
Take Profit, Pips
Target profit value in pips for a new position, set after market entry. The Take Profit must
be set to higher than zero.

Day of Week & Time of Day Entry Filter

Selection

Time

Reference

Reference Time Selection
Selects the nature of the time used by the EA when time specific actions are performed.

Reference
Time Selection

Description

Broker Server
Time

Entry window hour and minute settings are relevant to the
broker's server time. See below picture showing the broker
server time in the Market Watch window.

PC Local Time

Entry window hour and minute settings are relevant to the
local time of the PC hosting the MT4 terminal and EA.
When setting up the time parameters consider the time zone
differences between the market open hours versus the PC
local time.

GMT Time

Entry window hour and minute settings are relevant to the
selected GMT offset.

(Set GMT Offset
Below)

This feature is useful to keep the entry window hour and
minute settings the same when the EA is executed across
different brokers. In this case only the broker GMT offset
needs to be set on the different brokers' MT4 instances,
and the EA adjusts automatically the entry window for the
broker.

Broker

Offset

GMT

In this case, use the Set GMT Offset to select the broker
offset and always set the window hour values in GMT +0
time zone.

GMT Offset of Broker
The time zone shift of the MT4 broker's server time. This parameter is only required if
GMT Time option is selected for the Reference Time Selection.

Unfortunately MT4 terminal does not provide this broker GMT offset information therefore
a query to the broker maybe needed to get this value. As an alternative, one may make
an attempt to calculate this offset through the following steps:
1.The Market Watch window's header shows the broker's server time, press Ctrl+M in
the MT4 terminal:

This time can be compared to the GMT+0 time to calculate the GMT offset of the
broker.
2.In a web browser search for gmt time keywords to see the current GMT time.
3.Then compare the search result of current GMT time to the current time displayed by
the Market Watch window of the MT4 terminal. The difference of the two times gives
the broker GMT offset.
Based on past experience, with no guarantee that the information is correct, these are a
few sample broker GMT offsets observed as of July 2015:
MT4
Terminal

Broker

GMT Offset

AxiTrader

AxiCorp Financial Services Pty Ltd

IC Markets

International Capital Markets Pty Ltd

InstaForex

InstaForex Companies Group

FXCM

Forex Capital Markets Inc

ThinkForex

TF Global Markets (Aust) Pty Ltd

RoboForex EU

RoboForex (CY) Ltd

Tallinex

Tallinex Ltd

MT4
Terminal

Broker

GMT Offset

Oanda

OANDA Corporation

-4

MB Trading FX

MB Trading Futures Inc

-4

Hour/Minute

Until

Window

Entry

Hour/Minute

From

Window

Entry

The value in the GMT Offset column could be used for the EA parameter GMT Offset of
Broker.

Entry Window From Hour/Minute - Entry Window Until Hour/Minute
Limits the period of a day when a new position entry may take place.
The From Hour & Minute is inclusive, while the Until Hour & Minute is exclusive. The
following table shows examples how to configure these parameters for the entry window
period:
Desired Entry Period

Entry Window From

Entry Window Until

8 – 10

Hour = 8

Hour = 10

(i.e. 8:00.00–9:59.59)

Minute = 0

10-17

Hour = 10

Hour = 17

(i.e. 10:00.00-16:59.59)

Minute = 0

All Day

Hour = 0

Hour = 24

Minute = 0

Entry

Trade

Sunday

...

Monday

The entry window from and until hours are specific to the selected time at Reference Time
Selection.

Monday ... Sunday Trade Entry
Days allowed for new position entry. Subsequent management of stop loss or exit of
already open trades may happen outside of the enabled days, only the entry of new
positions is limited to the selected days:

Day of Week
Trade Entry
No Entry

Description
No new entry is executed on that day.
Stop Loss management, if turned on, for existing open
positions are still executed as normal.

Entry Enabled

New entry is allowed for the day when all other entry criteria
are met.

Operations Settings

Parameter

Number

Magic

Magic Number
The EA marks its orders with this value when submitting to the broker account, and picks
up orders which are marked with this magic number value and belong to the chart of the
EA. In the case of multiple EA's running on the same market ensure that they get unique
Magic Number allocations to avoid cross-impact between the EA instances handling the
orders. See Configuration and Operation Principles section for more explanation and setup
examples.
Related information
Configuration and Operation Principles on page 13
The CandleTrader EA operational overview.

Chapter

Knowledgebase
Frequently Asked Questions and other common use cases.

5.1 Sad Face Instead of Smiley Face After Attach
Issue
After attaching to chart the EA is not managing trades, a sad face appears in the top right
corner of the chart.

EA's common parameters might be not enabled
The Allow live trading, Allow DLL imports and Allow import of external experts
might be not enabled
• Verify that the Allow live trading, Allow DLL imports and Allow import of
external experts are checked in the EA property dialog (F7).

Autotrading is disabled
The AutoTrading might be disabled
• Verify that the toolbar button AutoTrading is pressed.
Toolbar button when Expert Advisors disabled:

Click to enable:

5.2 EA Is Not Starting Up After Attach to Chart
Issue
The EA reports successful initialisation and advises about disabled Expert Advisors.

Autotrading is disabled
The AutoTrading might be disabled
• Verify that the toolbar button AutoTrading is pressed.
Toolbar button when Expert Advisors disabled:

Click to enable:

5.3 No Updates to Chart
Issue
The CandleTrader EA does not update information on the chart for several minutes.

Connection Lost
MetaTrader should be connected to the broker's server.

1. Check the bottom right corner of MetaTrader, this is when it has lost connection to
the server:

2. If connection is lost then login again or restart MT to force reconnection. Try again
activating the CandleTrader EA when connection is back.

Demo account is expired
MT4 will not be able to connect to the demo account if it's expired. In this case MT4 will
keep asking for the login details and fail all login attempt.
• When this happens open a new demo account (right click Accounts in Navigator
window and select Open an Account).

Market is closed
New tick information and updates to chart happens when markets are open.
• Double check that markets are meant to be open currently.

Disk is full
There should be at least 50MB free disk space available on the drive MetaTrader is
installed on.
• If the free disk space is low then free up space.

5.4 Prompted for Access ID at Service Access Settings
Issue
After attaching to chart the CandleTrader EA asks for my Access ID in the Service Access
Settings window.

Type in your Access ID
The CandleTrader EA checks that the usage of product is appropriately licensed. After
product purchase a user profile is created on our web support site and the product can be
downloaded from that web site. The support site allows to set up an Access ID which is
required by the CandleTrader EA to validate the product licence. By default this Access ID
is configured to be the same as your selected login name to the web support site.
• When prompted, please enter your Access ID to the window and click Save:

Please do not share out to others your Access ID. That is against the licence
agreement terms and conditions and also all 3rd party usages will count when
checking the number of EA copies being used. Sharing out your Access ID can result
in licence check failure and the EA may stop functioning.
Keep your Access ID secure, change it away from the its default value at any time on
the Web Support Centre site.

5.5 Backtest In Visual Mode Not Working
Issue
In the Strategy Tester using the visual mode DLL imports not allowed message
appears on the chart. No result after the Strategy Tester finished its run.

Global Allow DLL imports is not enabled
You may need to enable the DLL imports in the MT4 for terminal global parameters to run
the CandleTrader EA in the backtest environment.
1. Open the MT4 global Options by selecting Tools > Option (CTRL+O)
2. Select the Expert Advisors tab
3. Check the Allow DLL import

5.6 Backtest Not Working
Issue
After the backtest finished no result showing.

Global Allow DLL imports is not enabled
You may need to enable the DLL imports in the MT4 for terminal global parameters to run
the CandleTrader EA in the backtest environment.

1. Open the MT4 global Options by selecting Tools > Option (CTRL+O)
2. Select the Expert Advisors tab
3. Check the Allow DLL import

5.7 Step-by-step Installation of an Expert4x EA or Indicator
In this tutorial the Tallinex MetaTrader (MT4) is used as an example. Replace the Tallinex
MetaTrader with your broker specific MetaTrader.
1. Start your MT4 terminal and select the File > Open Data Folder menu

The menu opens a File Explorer.
2. Close your MT4
3. Check the File Explorer
• If the File Explorer shows a folder like this one below

and you see the origin.txt or the origin file go to the standard installation
page.
• If the File Explorer shows a folder like this one below

and you see the terminal.exe or terminal file go to the non-standard
installation page.

5.7.1 Standard EA, Indicator installation
In the opened File Explorer the origin.txt or the origin file was found.
Please follow through the steps below to install the Expert4x EA or Indicator on your MT4
1. Double click the origin.txt file and take a note of the MetaTrader location.

2. Start the EA or indicator setup program. Follow through the setup until you reach the
Select Target MetaTrader Directory window.

3. In this window select your targeted MetaTrader's Data Folder, as per the origin.txt
noted earlier, and click Next
4. Follow through the rest of the setup application.
5. In the end click Install

6. Check the EA or Indicator in the MetaTrader after installation
a) Start your MetaTrader
b) In the Navigator panel open the Expert Advisors section if you installed an
EA or the Indicators section if you installed an Indicator and look for the EA or
Indicator.

5.7.2 Non-standard EA, Indicator installation
In the opened File Explorer the terminal.exe or terminal file was found.
Please follow through the steps below to install the an Expert4x EA or Indicator on your
MT4
1. Start the EA or indicator setup program. Follow through the application until you
reach the Select Target MetaTrader Directory window.
2. Click Add target directory... button

3. Navigate to your MetaTrader folder

and click OK.
4. Scroll down to the end of the list. Select the target directory. Click Next.

5. Follow through the rest of the setup application.
6. In the end click Install

7. Check the EA or Indicator in the MetaTrader after installation
a) Start your MetaTrader
b) In the Navigator panel open the Expert Advisors section if you installed an
EA or the Indicators section if you installed an Indicator and look for the EA or
Indicator.

Chapter

Operational Messages
The CandleTrader EA operational messages and resolution guide.

Code

Severity

Message

Description

1001

Error

Setup
problem:
DLL imports not
allowed. Tick Allow
DLL imports in
Common tab of the
properties window.

Configuration
setting is missing
to allow the EA
to use dynamicaly
loaded
libraries
(DLLs). Enable the
load of DLLs and
restart the EA.
More...

1002

Error

Incomplete
EA
installation:
Run
setup application
for MT4 instance
"'s
Data Folder"

Product installation
is not complete or
damaged. Run the
setup application
for
the
MT4
terminal instance
as
displayed.
More...

1006

Error

MT4
Expert
Advisors
are
disabled:
click
AutoTrading
icon
on MT4 toolbar to
execute the EA.

EA
does
not
perform
its
operations,
not
monitoring
nor
reacting to price
movements of the
market. More...

1007

Error

Live trading is not
allowed (no smiley
face): press F7
and tick Allow live
trading box on
Common tab.

The EA is unable
to perform trading
operations, there is
a sad icon in the
top right corner of
the chart. More...

1008

Error

Authentication
failed
or
interrupted
(,
,
,
,
,
)

The EA is not able
to authenticate the
user access to the
service at its start
up time. More...

Code

Severity

Message

Description

1017

Error

Initial
risk Position
sizing
feature is enabled
%
is
too but no Initial Risk
low.
Set
EA Percent or Initial
parameter 'Initial SL is configured.
Risk Percent' to More...
higher than zero.

1018

Error

Initial
SL

is too low. Set EA
parameter 'Initial
SL
for
New
Position' to higher
than zero.

Position
sizing
feature is enabled
but no Initial Risk
Percent or Initial
SL is configured.
More...

2118

Error

Service
access
disabled
(,
)
- shutting down...

The
user
quits
the authentication
process, or the
EA is not able
to authenticate the
user access to the
service. More...

Message

Description

Setup
problem:
DLL imports not
allowed. Tick Allow
DLL imports in
Common tab of the
properties window.

Configuration
setting is missing
to allow the EA
to use dynamicaly
loaded
libraries
(DLLs). Enable the
load of DLLs and
restart the EA.
More...

6.1 Message 1001
Code
1001

Severity
Error

Setup problem: DLL imports not allowed
Issue
The EA is not able to start up when gets attached to a chart because some of its
dependencies could not be loaded into memory. The EA requires some dynamically loaded
libraries (DLL) to be loaded into memory from disks. When the EA configuration settings
do not allow the load of DLLs then the EA cannot start up and reports this error message.
Possible root cause
• The EA configuration does not allow for the load of DLLs.
Resolution
Enable the load of DLLs in the EA configuration dialog.
1.Attach the EA to a chart, or if already attached then select the chart and
• In case of an EA: press F7
• In case of an indicator: press Ctrl+I and double-click the name of the indicator
in the list.

2.Go to the Common tab of the Property window.
3.Tick the checkbox Allow DLL imports.
4.Click OK.

6.2 Message 1002
Code
1002

Severity
Error

Message

Description

Incomplete
EA
installation:
Run
setup application
for MT4 instance
"'s
Data Folder"

Product installation
is not complete or
damaged. Run the
setup application
for
the
MT4
terminal instance
as
displayed.
More...

Incomplete Installation
Issue
The EA is not able to start up when gets attached to a chart because some of its
dependencies could not be found on the file system.
Possible root cause
• The EA setup application was not able to perform all its steps, not completed in full.
• The product was installed manually and some of the steps were missed.
• The MT4 instance's file system got damaged, some files got corrupted or deleted.
Resolution
Download the EA setup application and execute it to get the product installed for the MT4
instance:
1.Download the setup application from Web Support Centre.
2.Execute the setup application to get the product installed. For installation guide refer
to any of the following:
• Getting Started with the CandleTrader EA on page 4
• Step-by-step Installation of an Expert4x EA or Indicator on page 28

6.3 Message 1006
Code
1006

Severity
Error

Message

Description

MT4
Expert
Advisors
are
disabled:
click
AutoTrading
icon
on MT4 toolbar to
execute the EA.

EA
does
not
perform
its
operations,
not
monitoring
nor
reacting to price
movements of the
market. More...

EA AutoTrading Disabled
Issue
The EA is not responding to price movements, not performing its logic upon data ticks
coming in from the broker. The MT4 toolbar button AutoTrading is disabled.
Possible root cause
• The AutoTrading button on the MT4 toolbar is disabled.

Resolution
Press the AutoTrading button on the MT4 toolbar.

6.4 Message 1007
Code
1007

Severity
Error

Message

Description

Live trading is not
allowed (no smiley
face): press F7
and tick Allow live
trading box on
Common tab.

The EA is unable
to perform trading
operations, there is
a sad icon in the
top right corner of
the chart. More...

Live Trading Not Allowed
Issue
The EA is unable to perform trading operations, there is a sad icon in the top right corner
of the chart.
Possible root cause
• The Allow live trading checkbox is not ticked at the EA properties window.

Resolution
Enable live trading in the EA properties window.
1.Go to the chart and press F7.
2.Go to the Common tab of the Expert properties window.
3.Tick the checkbox Allow live trading.
4.Click OK

6.5 Message 1008
Code
1008

Severity
Error

Message

ToDo

Authentication
failed
or
interrupted
(,
,
,
,
,
)

The EA is not able
to authenticate the
user access to the
service at its start
up time. More...

Failed Authentication
Issue
The EA is not able to authenticate the user access to the service at attach or restart time
and does not start up.
Possible root cause
•
•
•
•
•
•

The EA could not connect to the authentication server.
The user quit the authentication process.
There is a typo in the Access ID entered by the user.
The CandleTrader EA is not yet purchased by the user.
The CandleTrader EA was purchased, but not yet activated by the user.
The CandleTrader EA was purchased or a trial started, but the licensed period (e.g.
calendar days) has lapsed.
• The CandleTrader EA was purchased, but the licensed usage limit (e.g. number of
parallel accesses) is breached by the user.
Resolution

Double check the following items to find resolution to the issue.
1.Ensure that the computer has working Internet connection. For example, go to the
Web Support Centre and see if the page loads with no issues. When the Internet
connection is working, restart the EA by pressing F7 and clicking the OK button of
the Expert property window.
2.Ensure you enter the correct Access ID, case sensitive, without any typo, and click
the Save button of the Service Access Settings authentication window.

3.Ensure you have purchased the product. Log in to the Web Support Centre and
select the CandleTrader EA from the product list. If the product is not available for
download then it is yet to be purchased at the Web Support Centre.
4.Count the number of computers you are running the CandleTrader EA on. If it is more
than what the purchased EA licence copies allow then either shut down on the excess
number of the computers all the running CandleTrader instances, or purchase more
licence at the Web Support Centre.

6.6 Message 1017
Code
1017

Severity
Error

Message

Description

Initial
risk Position
sizing
feature is enabled
%
is
too but no Initial Risk
low.
Set
EA Percent or Initial
parameter 'Initial SL is configured.
Risk Percent' to More...
higher than zero.

Missing Initial Risk Percent for Position Sizing Feature
Issue
The position sizing feature is enabled and it requires both the Initial Risk Percent as
well as the Initial SL to be set higher than zero. Refer to Dynamic Trailing Stop for more
details.
Possible root cause
• The Initial Risk Percent is turned off, set to value zero.
Resolution
Set the Initial Risk Percent to higher than zero value.

Related reference
Dynamic Trailing Stop

6.7 Message 1018
Code
1018

Severity
Error

Message

Description

Initial
SL

is too low. Set EA
parameter 'Initial
SL
for
New
Position' to higher
than zero.

Position
sizing
feature is enabled
but no Initial Risk
Percent or Initial
SL is configured.
More...

Missing Initial SL for Position Sizing Feature
Issue
The position sizing feature is enabled and it requires both the Initial Risk Percent as
well as the Initial SL to be set higher than zero. Refer to Dynamic Trailing Stop for more
details.
Possible root cause
• The Initial SL is turned off, set to value zero.
Resolution
Set the Initial SL to higher than zero value.
Related reference
Dynamic Trailing Stop

6.8 Message 2118
Code
2118

Severity
Error

Message

ToDo

Service
access
disabled
(,
)
- shutting down...

The
user
quits
the authentication
process, or the
EA is not able
to authenticate the
user access to the
service. More...

Aborted Authentication
Issue
The EA is not able to authenticate the user access to the service at attach or restart time
and does not start up.
Possible root cause
•
•
•
•
•

The user quit the authentication process.
The EA could not connect to the authentication server.
There is a typo in the Access ID entered by the user.
The CandleTrader EA is not yet purchased by the user.
The CandleTrader EA was purchased, but not yet activated by the user.

• The CandleTrader EA was purchased or a trial started, but the licensed period (e.g.
calendar days) has ellapsed.
• The CandleTrader EA was purchased, but the licensed usage limit (e.g. number of
parallel accesses) is breached by the user.
Resolution
Double check the following items to find resolution to the issue.
1.Ensure that the computer has working Internet connection. For example, go to the
Web Support Centre and see if the page loads with no issues. When the Internet
connection is working, restart the EA by pressing F7 and clicking the OK button of
the Expert property window.
2.Ensure you enter the correct Access ID, case sensitive, without any typo, and click
the Save button of the Service Access Settings authentication window.

Chapter

Support
Please contact support@eafactory.com if you require any further assistance. Please copy
info@expert4x.com on your email.

Index
Numerics

1001
Message
1002
Message
1006
Message
1007
Message
1008
Message
1017
Message
1018
Message
2118
Message

Day Of Week & Time Of Day Entry Filter
Parameters 18
DLL Imports Not Allowed
Knowledgebase 26
Visual Mode 26

34
35
36
36
37
38
39
39

A
Access ID
Knowledgebase 25
Account Type Requirements
System Requirements 12
Activation
Access ID 7
Attach 7
First Time Activation 7
MT4 Common Tab 7
MT4 Inputs Tab 7
Service Access Settings 7
Allow DLL Imports
Backtest 27
Allowed Trade Direction
Parameters 14, 15
AutoTrading Disabled
EA Not Starting Up 23, 24

E
EA Non-standard Installation
Knowledgebase 31
EA Not Starting Up
AutoTrading Disabled 23, 24
EA Standard Installation
Knowledgebase 29
ECN/STP Broker Accounts
System Requirements 12
Entry Method
Parameters 14, 14
Entry Window From Hour/Minute
Parameters 18, 21
Entry Window Until Hour/Minute
Parameters 18, 21

F
First Time Activation
Activation 7
Forex Broker Requirements
System Requirements 11
Friday Trade Entry
Parameters 18, 21

G
GMT Offset Of Broker
Parameters 18, 19

Backtest
Allow DLL Imports 27
No Result 26, 27

Hardware Requirements
System Requirements 11
Hedging Support Requirements
System Requirements 11

C
CandleTrader EA
Installation 4
Configuration
Configuration Principles 13
Operation Principles 13
Configuration Principles
Configuration 13
Copyright Notices
Copyright Notices 3

I
Indicator Non-standard Installation
Knowledgebase 31
Indicator Standard Installation
Knowledgebase 29
Initial Risk Percent
Parameters 16, 16, 17
Initial SL for New Position
Parameters 16, 18, 18
Initial Stop & Target
Parameters 16, 18
Install
CandleTrader EA 4

Non-standard Installation 31
Standard Installation 29

K
Knowledgebase
Access ID 25
DLL Imports Not Allowed 26
EA Non-standard Installation 31
EA Not Starting Up 24
EA Standard Installation 29
Indicator Non-standard Installation 31
Indicator Standard Installation 29
No Updates to Chart 24
Sadface 23, 24
Step-by-step Installation Guide 28

L
Lots for 'Manual Lot Size'
Parameters 16, 16, 17

M
Magic Number
parameters 22
Parameters 21
Max Spread for Position Entry
Parameters 16, 16, 16
Message
1001 34
1002 35
1006 36
1007 36
1008 37
1017 38
1018 39
2118 39
MetaTrader (MT4) Requirements and Settings
System Requirements 11
Minimum Bar Height of Previous Bar
Parameters 14, 14
Minimum Lot Size Requirements
System Requirements 12
Monday ... Sunday Trade Entry
Parameters 18, 21, 21
Monday Trade Entry
Parameters 18, 21

N
No Updates to Chart
Knowledgebase 24
Non-FIFO Support Requirements
System Requirements 12

O
Operating System Requirements
System Requirements 11
Operation Principles
Configuration 13

Operations Settings
parameters 22
Parameters 21

P
parameters
Magic Number 22
Operations Settings 22
Parameters
Allowed Trade Direction 14, 15
Day Of Week & Time Of Day Entry Filter 18
Entry Method 14, 14
Entry Window From Hour/Minute 18, 21
Entry Window Until Hour/Minute 18, 21
Friday Trade Entry 18, 21
GMT Offset Of Broker 18, 19
Initial Risk Percent 16, 16, 17
Initial SL for New Position 16, 18, 18
Initial Stop & Target 16, 18
Lots for 'Manual Lot Size' 16, 16, 17
Magic Number 21
Max Spread for Position Entry 16, 16, 16
Minimum Bar Height of Previous Bar 14, 14
Monday ... Sunday Trade Entry 18, 21, 21
Monday Trade Entry 18, 21
Operations Settings 21
Position Management 16
Position Sizing 16, 16
Position Sizing Method 16, 16, 16
Reference Time Selection 18, 19
Saturday Trade Entry 18, 21
Sunday Trade Entry 18, 21
Take Profit 16, 18, 18
Thursday Trade Entry 18, 21
Trade Limits 16, 16
Trading Logic Settings 14
Tuesday Trade Entry 18, 21
Wednesday Trade Entry 18, 21
Position Management
Parameters 16
Position Sizing
Parameters 16, 16
Position Sizing Method
Parameters 16, 16, 16

R
Reference Time Selection
Parameters 18, 19

S
Sadface
Knowledgebase 23, 24
Saturday Trade Entry
Parameters 18, 21
Step-by-step Installation Guide
Knowledgebase 28
Sunday Trade Entry
Parameters 18, 21

Support
Support 41
System Requirements
Account Type Requirements 12
ECN/STP Broker Accounts 12
Forex Broker Requirements 11
Hardware Requirements 11
Hedging Support Requirements 11
MetaTrader (MT4) Requirements and Settings 11
Minimum Lot Size Requirements 12
Non-FIFO Support Requirements 12
Operating System Requirements 11

T
Take Profit
Parameters 16, 18, 18
Thursday Trade Entry
Parameters 18, 21
Trade Limits
Parameters 16, 16
Trading Logic Settings
Parameters 14
Tuesday Trade Entry
Parameters 18, 21

V
Visual Mode
DLL Imports Not Allowed 26

W
Wednesday Trade Entry
Parameters 18, 21

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