Magic EA is an Expert Advisor based on Scalping, Elliot Waves and with filters such as RSI, Stochastic and 3 other strategies managed and decided with the robot smartly. Large number of inputs and settings are tested and optimized and embedded in the program thus inputs are limited and very simple. Using EA don’t need any professional information or Forex Trading Knowledge. EA can trade on all symbols and all time frames, using special and unique strategies developed by the author.

The EA works with low margin levels and thus has low risk.

Free Version can trade on EURJPY Lots 0.01. For Full Version use Magic EA MT5.

Using EA :

The EA is very simple and without complicated input parameters.

These are main parameters must be set :

• General Options

• Time Frame : Time frame for trading.
• Trade Type : Long/Short/Both/No-Hedge
• Stop Trading : if true, EA don’t open a new position. Only manage already opened.
• Minimum Distance to Open New Position : Distance to ignore new signals if older positions exist.
• Maximum Spread to Open Position : Spread to stop trading
• Magic Number : Any constant ID.
• Show Panel On Chart : Shows report of positions on chart with the option of manual closing them.

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• Closing Positions

• Take Profit : TakeProfit in Points
• Action for in-Loss Positions : Averaging-Add,Averaging-Multiply, StopLoss, WaitforTP
• Stop Loss : StopLoss in Points. Only act if the StopLoss option selected above.
• Averaging Distance : Distance in Points to insert averaging position. Only acts if the Averaging option selected above.
• Averaging Volume Multiplier : Volume multiplier if averaging selecting above.
• Averaging Volume Add : Volume adding if averaging selecting above.
• Averaging Maximum Volume Per Trade
• Averaging Maximum Number of Trades

• Volume Settings
  

• Volume Calculation Method : Fixed, Dynamic Lots or Risk Percent based on Balance/Equity/Free Margin
• Fixed Lots : Volume of trading
• Lots Per 1000 : Volume per 1000 Balance/Equity/Free Margin
• Risk Percentage
• Maximum Volume Per Trade
• Minimum Volume Per Trade

• Trailing/Break Even

• Trailing Stop Loss : Enable/Disable Trailing Stop
• Trailing Start : Trailing Start Distance in Points.
• Trailing Stop : Trailing Stop Loss Distance in Points.
• Trailing Step : Distance to apply Trailing Stop Loss in Points.
• Break Even : Enable/Disable Break Even
• Activate Break Even After Loss : Distance to apply Break Even in Points

• Day and Time Filters

• There are options to stop trading on specific days and hours

• News Filter Inputs
  

• Block Trading During Low Impact News
• Minutes Before/After Low Impact News
• Block Trading During Medium Impact News
• Minutes Before/After Medium Impact News
• Block Trading During High Impact News
• Minutes Before/After High Impact News

• Notifications

• Options to send notifications on mobile terminals or show pop up alerts or send Telegram messages. (How to Setup Telegram Notifications)

* All above default point inputs are for 5digit accounts. if your account is 4digit use 0.1x numbers.

Optimizing EA :

(important) Optimize EA for the last 6 month before using, and update optimization every 1-2 month.

There is no any parameter to optimize EA signal engine. The only parameters are user money management inputs.

Optimization of EA is so fast and easy. We recommend these Optimization inputs :

• Load all Default Values
• Test with Every Tick Based on Real Ticks
• Time Frame Bounds : M5 to D1
• Take Profit Bounds : 100 to 1000 step 100 (10 to 100 step 10 for 4digit accounts)
• Averaging Distance Bounds : 500 to 8000 step 500 (50 to 800 step 50 for 4digit accounts)
• Averaging Volume Multiplier  Bounds : 1 to 5 step 0.5

It is strongly recommended to optimize EA based on the example demonstrated in the video.

 
Recommendations and Using Conditions :

• EA Only works on Hedge Accounts (netting is not supported)
• You can run EA on several charts and symbols. Try to use different Magic Number input for each chart.
• If you attach EA to multiple charts, decrease volumes to reduce your risk.

Activating News Filter :

• Enable “Allow Webrequest” on Tools/Options/Expert Advisors and add http://ec.forexprostools.com/ to the list.
• News Filter will not work in tester because of MQL limitations.

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