Setting 21-38: General Trading Settings

Following general trading settings are applicable for all types of indicators:

Setting 21: Lot Size: This is the lot size for the trades or pending orders. This is active by default.

Setting 22: Enable Lot Size as % of Account Balance: Instead of setting the lot size as a fixed amount you can optionally set the lot size as a percentage of the account balance based on the stop loss. If you enable this, fixed lot size you set in the previous setting will not be used.

Setting 23: % of Balance per Trade: This is where you set the % of balance mentioned in the previous setting. Do not use the % sign. Simply enter only the figure.

Setting 24: Stop Loss (Pips): Stop loss setting for trades. You can make it zero if you want to close the trade only on the opposite signal.

Setting 25: Take Profit (Pips): You can set the take profit here. You can make it zero if you want to close the trade only on the opposite signal.

Setting 26: Enable ATR based SL/TP: You can enable this feature here. If you enable here, then stop loss and take profit set in pips previously will be ignored. Instead of fixed stop loss and take profit, you can use ATR distance (14-period Average True Range) to dynamically set the stop loss and take profit.

NB: When you use any setting that would create more than one trade at any given time. The Automater will use the ATR that was used in the initial trade for the other trades created after the initial trades.

Setting 27: Stop Loss – ATR Multiplier: This is the ATR based stop loss that you can set as necessary. It has to be set as an ATR multiplier. For instance, if you put 2 here, then the stop loss will be two times the ATR distance at the time of entering the trade; if the ATR was 10 pips at that time, then the stop loss would be 20 pips.

Setting 28: Take Profit – ATR Multiplier: This is the ATR based take profit that you can set as necessary. It has to be set as an ATR multiplier. For instance, if you put 2 here, then the take profit will be two times the ATR distance at the time of entering the trade; if the ATR was 10 pips at that time, then the take profit would be 20 pips.

Setting 29: Enable Break Even Point: Here you can enable breakeven point. Please note breakeven point does not work when price optimization module is enabled (set both entry optimization by SL and by indicator signals as false).

Setting 30: Breakeven Point as % of TP: Here you can set the breakeven point distance. It needs to be entered as a percentage (without % mark) of the take profit (not in pips).

Setting 31: Trailing Stop (Pips): You can optionally set a trailing stop in pips (set as “0” to switch off trailing stop). Please note trailing stop does not work when price optimization module is enabled (set both entry optimization by SL and by indicator signals as false).

Setting 32: Trailing Step (Pips): Trailing step in pips for above trailing stop.

Setting 33: Slippage Filter (Pips): Slippage filter for trading. If slippage is more than this, the trade/order will not be executed.

Setting 34: Spread Filter (Pips): Spread filter for trading. If the spread is more than this, the trade/order will not be made.

Setting 35: Disable Auto Close on Opposite Signal: By default, the EA will close the existing trade when an opposite signal is received. With this option, you can disable this. In that case, the trade will be closed only by TP/SL or Trailing Stop.

NB: You need to have entry price optimizations disabled in order for this feature to work as the two features are in conflict with each other).

Setting 36: Allow Opening More than One Trade: By default, the EA will not open multiple trades/orders in the same direction. For instance, when there is a buy trade currently going on and the indicator gives another buy signal, the EA will not open another buy trade but it will simply keep the existing buy order. However, if you set this setting as “true”, then the EA will open more than one trade or order in the same direction. (Also note that if you disable auto close on opposite signals from above setting as “true”, then there can be more than one trade in both directions as EA will not close the trade on opposite signal).

NB: You need to have entry price optimizations disabled in order for this feature to work as the two features are in conflict with each other). Further, do not use this option with line indicators which may cause trades being created on every bar/tick.

Setting 37: Allow Simultaneous Buy and Sell: The previous setting enabled more than one trade at any given time but only in the initial direction. But if you like to have trades on both sides (both buys and sells at the same time), you need to enable this setting. NB: In other words, this will enable hedging (having trades both ways at the same time), please make sure your broker allows hedging.

Setting 38: Close Trades after Specified Minutes (0=Disable): You can auto close trade after a specified time period in minutes. For instance, if you want to close the open trades after 60 minutes, you can add 60 here. (0 means this is disabled). Please note this does not apply to pending orders.

Setting 21-38: General Trading Settings