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
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1 System Requirements
Please pay attention to the following system requirements.
1.1 Operating System Requirements
Any Windows operating system, which supports MetaQuotes
MetaTrader version 4.0 platform, also known as MT4.
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.
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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.
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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.
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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\<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:
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
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Step 4: Start up MetaTrader
Step 3: Copy to 'experts' folder - drag & drop
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:
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The MagicMA EA listed under the Expert Advisors node in the
Navigator window
Expert4x:- MagicMA Expert Advisor Users Guide
October 4, 2014
So everything is set up for the first activation of the MagicMA Expert
Advisor.
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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:
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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':
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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.
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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 MagicNumber
M1 6000
M5 6010
M15 6020
M30 6030
H1 6040
H4 6050
D1 6060
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Period MagicNumber
W1 6070
M1 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.
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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.
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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
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step this parameter value should be set to 5 regardless of 4 or 5-
digit 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.
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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.
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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 5-
digit 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
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on different EURUSD, M15 charts shall have different MagicNumber
values. See section 4.1 for more explanation.
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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.
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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').
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-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':
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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 site at:
https://my.eafactory.com/ login
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