Because this strategy is trading around swap time the spread are often very large. You must use real spread in back testing. But remember that the spread are often very different between brokers at that point .
The EA should be turned off on days of important events, for instance general elections in UK, US or Europe!
General Trade Settings
daily Equity Stop Percentage: IMPORTANT: please read point 6 within the blog post.
order Comment – Each trade will show this comment in history tab.
magic Number – individual magic number. The EA will only manage position of the chart symbol with this atomic number .
lot Type – “fixed” or “increasing”, where the lot size is calculated automatically.
fix Lots – fixed lot size just in case lot Type = fixed.
lot Step – what proportion the lot size should be increased every equity Per Step (if lot Type = increasing).
equity Hard Stop – if the equity falls below that level the EA will close open positions (only of this strategy) and can not open any new positions.
pip In Points – for 5-digit brokers, this could be 10, for 4-digit brokers 1.
slippage Points – Slippage utilized in Order Send() function (points, not pips).
max Spread Pips – maximum spread allowed for entry. If smaller 0, auto settings are going to be used, which are different for every currency pair.
live GMT offset – To set GMT offset manually. Usually this is not needed.
skip Sunday – if true the EA won’t open positions on Sunday (GMT).
start Hour GMT – when to start trading (GMT).
end Hour GMT – when to stop trading (GMT).
wait Minutes Between Same Side Entry– After a buy position another buy position will only be allowed after the given time. Same for sell positions. If you’re sleeping during the trading hours you’ll limit the potential total risk with this parameter. If the last hour was a loss the EA will automatically increase wait Minutes Between Entries by quarter-hour .
don’t Trade Triple Negative Swap – If true, the EA won’t open trades on before swap Hour GMT when the swap is negative on days with triple swap rate.
triple Swap Day – Day at which triple swap is applied. On most brokers it is Wednesday.
swap Hour GMT – Swap hour used if don’t Trade Wednesday Negative Swap=true.
tester GMT offset – Only needed for tester because GMT time isn’t defined in tester and your bar data may need a GMT offset.