MagicMA Expert Advisor User's Guide Magic MA Users
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MagicMA Expert Advisor User's Guide October 4, 2014 Copyright©2014 – 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 permission from Expert4x. Expert4x:- MagicMA Expert Advisor Users Guide October 4, 2014 Table of Contents 1 System Requirements.................................................................................................3 1.1 Operating System Requirements........................................................................3 1.2 Hardware Requirements.....................................................................................3 1.3 MetaTrader (MT4) Requirements and Settings..................................................3 1.4 Forex Broker Requirements................................................................................3 1.5 ECN/STP Broker Accounts................................................................................4 2 MagicMA EA Installation Instructions.......................................................................5 3 MagicMA EA First Time Activation..........................................................................9 4 MagicMA EA Configuration Guide.........................................................................12 4.1 Configuration and Operation Principles...........................................................12 4.2 MagicMA EA Parameter Descriptions.............................................................13 5 Troubleshooting........................................................................................................20 5.1 Sad Face Instead of Smiley After Attach..........................................................20 5.2 EA Is Not Starting Up After Attach to Chart....................................................20 5.3 No Updates to Chart.........................................................................................21 5.4 Order Submit Failed Messages.........................................................................22 5.5 Access ID at Service Access Settings...............................................................22 6 Support.....................................................................................................................24 Page 2 of 24 Expert4x:- MagicMA Expert Advisor Users Guide October 4, 2014 1 System Requirements Please pay attention to the following system requirements. 1.1 Operating System Requirements Any Windows operating system, which supports MetaTrader version 4.0 platform, also known as MT4. MetaQuotes 1.2 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. 1.3 MetaTrader (MT4) Requirements and Settings The MagicMA EA is compatible with MetaQuotes MetaTrader platform version 4.0 build 600 or higher. In general this is referred to as MT4 terminal, build 600 or newer. 1.4 Forex Broker Requirements The MagicMA EA is compatible with both 4 and 5-digit data feeds based brokers. The MagicMA EA automatically detects the type of the feed and adjusts the EA parameter pip values where necessary, e.g. the parameter 'TakeProfit1' value of 100 pips is to be entered as 100 regardless of 4 or 5-digit feed. 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. In certain cases, when the MagicMA EA is configured to maintain multiple buy as well as sell trades at the same time across charts of the same market, hedging must be supported by the broker on the account. Buy and sell open positions at the same time must be allowed on the same market, e.g. multiple buy and sell orders on the EURUSD market at the same time should be possible, without any dependency amongst or impact to the orders. Page 3 of 24 Expert4x:- MagicMA Expert Advisor Users Guide October 4, 2014 Both fixed and variable spread broker platforms are supported. 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). 1.5 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. IMPORTANT For ECN/STP broker accounts please set the MagicMA EA parameter 'ECNorSTPAccount' to true. This way the EA will submit the initial market order with no SL and TP values and will set those using a follow up order in the second step. This is mandatory behaviour, forced by the nature of the ECN/STP broker accounts and is applicable to any EA. Page 4 of 24 Expert4x:- MagicMA Expert Advisor Users Guide October 4, 2014 2 MagicMA EA Installation Instructions Please follow these steps to get the MagicMA EA installed on your system: 1. Exit MT4 if it was running (File/Exit) 2. Log in to web support area at https://my.eafactory.com/expert4x 3. Select the desired service and download the latest version's setup application. 4. Run the setup application. Select the MT4 folder during setup to where you want the service installed. 5. When setup completes start up MT4. 'MagicMA' entry should appear under the 'Expert Advisors' node in the Navigator window (View/Navigator) These pictures highlight the steps how to install the Expert Advisor. Page 5 of 24 Expert4x:- MagicMA Expert Advisor Users Guide October 4, 2014 Step 3: Copy to 'experts' folder - drag & drop Step 4: Start up MetaTrader The setup application lists the available MT4 instances. Select one of them for installation target and click Next. Note: For some earlier Windows versions the list may not contain all the MT4 instances. In this case use the 'Add target directory...' button to navigate to and pick up the desired folder. For earlier Windows versions the typical MetaTrader installation location could be C:\Program Files\\ 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: IBFX broker: C:\Program Files\Interbank FX Trader\experts Alpari UK broker: C:\Program Files\MetaTrader - Alpari UK\experts ODL UK broker: C:\Program Files\ODL MetaTrader 4\experts Page 6 of 24 Expert4x:- MagicMA Expert Advisor Users Guide October 4, 2014 Always select the main MT4 folder itself for installation target, not any of its sub-directories. When the installation is complete, start up MT4 and check that the Expert Advisor appears in the Navigator window: The MagicMA EA listed under the Expert Advisors node in the Navigator window Page 7 of 24 Expert4x:- MagicMA Expert Advisor Users Guide October 4, 2014 So everything is set up for the first activation of the MagicMA Expert Advisor. Page 8 of 24 Expert4x:- MagicMA Expert Advisor Users Guide October 4, 2014 3 MagicMA EA First Time Activation The following pictures demonstrate the first time activation of the MagicMA EA in a few steps. Drag & drop the MagicMA Expert Advisor from the Navigator window (View/Navigator) to a chart window and select the 'Common' tab: Ensure that the 'Allow live trading', 'Allow DLL import' and 'Allow import of external experts' are checked and 'Confirm DLL function calls' is unchecked. Select the 'Inputs' tab: Page 9 of 24 Expert4x:- MagicMA Expert Advisor Users Guide October 4, 2014 This lists the parameters of the EA where the operational aspect of the MagicMA can be set up. For more details see MagicMA EA Configuration Guide below – for now click OK and let the EA start up with default settings. At the very first time the EA prompts for the Access ID to verify that the usage of product is licensed. The Access ID can be edited on the web support site at https://my.eafactory.com/login. The Access ID is pre-configured and the same as the login name to the web support site. Enter the Access ID and click 'Save': Page 10 of 24 Expert4x:- MagicMA Expert Advisor Users Guide October 4, 2014 The MagicMA EA has been attached to the chart. The smiley face in the top-right corner shows that the initialisation of the MagicMA EA 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 expert advisor up and running please refer to the Troubleshooting section below. Page 11 of 24 Expert4x:- MagicMA Expert Advisor Users Guide October 4, 2014 4 MagicMA EA Configuration Guide In order to activate the MagicMA EA attach it to a chart window – for more details see section MagicMA EA First Time Activation above. 4.1 Configuration and Operation Principles The MagicMA EA manages only those tickets (a.k.a positions) on the account which belong to the MagicMA 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 MagicMA EA which are marked with this 'MagicNumber'. In general it is recommended to run on an account one EA product 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 types 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 advisor products (other than the MagicMA 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 MagicMA EA on the same account at the same time please ensure that • The 'MagicNumber' is set to different and unique number for each chart period – see below the table, and • Only one MagicMA EA is attached to the same chart and period, e.g. only up to one EURUSD,M15 chart is open which has the MagicMA EA attached to it. Here is a sample: Period M1 M5 M15 M30 H1 H4 D1 MagicNumber 6000 6010 6020 6030 6040 6050 6060 Page 12 of 24 Expert4x:- MagicMA Expert Advisor Users Guide October 4, 2014 Period W1 M1 MagicNumber 6070 6080 4.2 MagicMA EA Parameter Descriptions Below is the description of the MagicMA EA parameters. Monday to Sunday – enable (value 1) or disable (value 0) new trades on the referred day. Trading windows are active for a day only if the day itself is enabled by this setting. Page 13 of 24 Expert4x:- MagicMA Expert Advisor Users Guide October 4, 2014 Lots – lot size for new orders placed by the MagicMA EA. This lot size is used for orders submitted in either of the trading windows. ServerHourFrom1, ServerMinFrom1, ServerHourTo1, ServerMinTo1 – defines the first trading window the MagicEA EA is looking for new trades. Trade can only be triggered when the broker server's time falls within this period: HourFrom:MinFrom <= server time < HourTo:MinTo Sample settings: Search for new trade triggers ServerHourFrom1 ServerMinFrom1 ServerHourTo1 ServerMinTo1 Between 9am and 12pm 9 0 12 0 Between 9:30am and 11:45am 9 30 11 45 All day 0 0 24 0 Note: the broker's server time is displayed at the header of the Market Watch window. Page 14 of 24 Expert4x:- MagicMA Expert Advisor Users Guide October 4, 2014 MAPeriod1, MAOffset1 – the period and offset parameters of the simple moving average indicator the MagicMA EA uses to identify trading triggers during the first trading window. TakeProfit1, StopLoss1 – take profit and stop loss in pips for new orders submitted during the first trading window. When set to value 0 (zero) then no take profit or stop loss is set for orders. No fractional pip value to be entered, e.g. for 100 pips take profit or stop loss the parameter value should be set to 100 regardless of 4 or 5-digit broker feed. TrailingStop1 – trailing stop loss in pips for orders submitted during the first trading window. When set to value 0 (zero) then stop loss will not be adjusted, otherwise stop loss will be adjusted by the MagicMA EA to trail the new price and profit peaks. No fractional pip value to be entered, e.g. for 50 pips trailing stop loss this parameter value should be set to 50 regardless of 4 or 5-digit broker feed. TrailingStep1 – trailing step in pips for orders submitted during the first trading window. Only relevant if trailing stop feature is turned on (TrailingStop1>0). When set to value 0 (zero) then trailing in steps feature is turned off, otherwise the trailing stop will be adjusted every time when the ticket profit reached TrailingStop1+TrailingStep1 pips. In other words trailing of price happens in user-defined steps rather than at every small gain into further profit. No fractional pip value to be entered, e.g. for 5 pips Page 15 of 24 Expert4x:- MagicMA Expert Advisor Users Guide October 4, 2014 step this parameter value should be set to 5 regardless of 4 or 5digit broker feed. SecondWindowEnabled – enable (value 1) or disable (value 0) the second trading window for a day. The MagicMA EA is looking for new trades during the second window only if this parameter enables to do so. ServerHourFrom2, ServerMinFrom2, ServerHourTo2, ServerMinTo2 – defines the second trading window the MagicEA EA is looking for new trades. Trade can only be triggered when the broker server's time falls within this period: HourFrom:MinFrom <= server time < HourTo:MinTo Sample settings: Search for new trade triggers ServerHourFrom2 ServerMinFrom2 ServerHourTo2 ServerMinTo2 Between 2pm and 5pm 14 0 17 0 Between 4:30pm and 9:45pm 16 30 21 45 Overlap of first and second trading windows is not recommended. Even though in case of overlap of the trading windows, where both at the same time triggers a new trade, the trigger of the second trading window will be activated and the trigger of the first window will be skipped. Note: the broker's server time is displayed at the header of the Market Watch window. Page 16 of 24 Expert4x:- MagicMA Expert Advisor Users Guide October 4, 2014 MAPeriod2, MAOffset2 – the period and offset parameters of the simple moving average indicator the MagicMA EA uses to identify trading triggers during the second trading window. TakeProfit2, StopLoss2 – take profit and stop loss in pips for new orders submitted during the second trading window. When set to value 0 (zero) then no take profit or stop loss is set for orders. No fractional pip value to be entered, e.g. for 100 pips take profit or stop loss the parameter value should be set to 100 regardless of 4 or 5-digit broker feed. TrailingStop2 – trailing stop loss in pips for orders submitted during the second trading window. When set to value 0 (zero) then stop loss will not be adjusted, otherwise stop loss will be adjusted by the MagicMA EA to trail the new price and profit peaks. No fractional pip value to be entered, e.g. for 50 pips trailing stop loss this parameter value should be set to 50 regardless of 4 or 5-digit broker feed. Page 17 of 24 Expert4x:- MagicMA Expert Advisor Users Guide October 4, 2014 TrailingStep2 – trailing step in pips for orders submitted during the second trading window. Only relevant if trailing stop feature is turned on (TrailingStop2>0). When set to value 0 (zero) then trailing in steps feature is turned off, otherwise the trailing stop will be adjusted every time when the ticket profit reached TrailingStop2+TrailingStep2 pips. In other words trailing of price happens in user-defined steps rather than at every small gain into further profit. No fractional pip value to be entered, e.g. for 5 pips step this parameter value should be set to 5 regardless of 4 or 5digit broker feed. NewBarWindowSec – the maximum number of seconds, after the opening of a new bar, the MagicMA EA can place a new order. This is to avoid submitting a new order when the MagicMA EA gets attached to chart half-way through of a bar. ECNorSTPAccount – allowing for some brokers where the buy and sell market orders cannot have take profit and stop loss values. When this parameters is set to true the take profit and stop loss values are set once the initial order has been successfully submitted. When this parameter is set to false the take profit and stop loss values are submitted with the initial order. For more details see section 1.5 ECN/STP Broker Accounts. Note: take profit and stop loss values are only submitted when the TakeProfit1&2 or the StopLoss1&2 features are in use, i.e. those are set to value other than zero. MagicNumber – ensure this parameter gets a unique value on each chart period the MagicMA EA gets attached to, i.e. MagicMA EA Page 18 of 24 Expert4x:- MagicMA Expert Advisor Users Guide October 4, 2014 on different EURUSD, M15 charts shall have different MagicNumber values. See section 4.1 for more explanation. Page 19 of 24 Expert4x:- MagicMA Expert Advisor Users Guide October 4, 2014 5 Troubleshooting 5.1 Sad Face Instead of Smiley 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. Checklist: Verify that the 'Allow live trading', 'Allow DLL imports' and 'Allow import of external experts' are checked and 'Confirm DLL function calls' is unchecked in the EA property dialog (F7) 5.2 EA Is Not Starting Up After Attach to Chart Issue: The MagicMA EA reports successful initialisation and advises about disabled Expert Advisors; a “x” sign appears in the top right corner of the chart. Page 20 of 24 Expert4x:- MagicMA Expert Advisor Users Guide October 4, 2014 Checklist: Verify that the toolbar button 'Expert Advisors' is pressed. Toolbar button when Expert Advisors disabled: Click to enable: 5.3 No Updates to Chart Issue: The MagicMA EA does not update information on the chart for several minutes. Checklist: MetaTrader should be connected to the broker's server. Check the bottom right corner of MetaTrader, this is when it has lost connection to the server: If connection is lost then login again or restart MT to force reconnection. Try again activating the MagicMA EA when connection is back. 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'). Page 21 of 24 Expert4x:- MagicMA Expert Advisor Users Guide October 4, 2014 New tick information and updates to chart happens when markets are open. Double check that markets are meant to be open currently. There should be at least 50MB free disk space available on the drive MetaTrader is installed on. If the free disk space is lower then free up space. 5.4 Order Submit Failed Messages The MagicMA EA may report error messages like SubmitOrder – order submit failed (MT code: 130 Desc: invalid stops) … If this error message is permanent and occurs for every trade attempt then the broker account may not support initial stop loss and take profit targets submitted with a market order. In this case the SL and TP values must be set in a separate order following the initial market order. Please refer to section 1.5 ECN/STP Broker Accounts, and the description of 'ECNorSTPAccount' parameter at the end of section 4 MagicMA EA Configuration Guide as how to configure the EA for this broker account. 5.5 Access ID at Service Access Settings The MagicMA 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 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': Page 22 of 24 Expert4x:- MagicMA Expert Advisor Users Guide October 4, 2014 Please do not share out to others your Access ID. That is against the licence agreement terms and conditions and also all 3 rd 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 site at: https://my.eafactory.com/login Page 23 of 24 Expert4x:- MagicMA Expert Advisor Users Guide October 4, 2014 6 Support Please contact easupport@expert4x.com if you require any further assistance. Please copy info@expert4x.com on your email. Page 24 of 24
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