The Power Bot EA Training
Login to the VPS.
Locate & right-click on the "Expert Advisor" section of MT5.
Click "Refresh" (your Power Bot EA will appear in that section).
Open a new Chart and change the time frame to M15. (The Ea Works on All Time Frames).
Drag EA onto the chart or double click the EA to open the EA settings.
Click on the "Inputs Tab".
Leave settings as is for now.
Start with a 0.01 lot size.
EA Works on all pairs Not Indicies like gold or nasdaq or US stocks etc.
Choose Forex pairs with low spread.
This is the Engineer standard settings with lot exponent at 1.4. I don't use this setting. I use my own preset. The preset can be found in the preset folder called "Best Permutation" I use it on a 1m chart. Engineer preset is used on a 15m time frame.
MM_MODE — method of initial lot calculation. Three schemes are possible:
Fixed Lot Size — the value of Fixed Lot Value is used.
Lot per $1,000 — free margin size is divided by 1,000 and multiplied by the value of Lot per $1,000 parameter.
Auto Lot Size — using the formula, which takes into account deposit value, symbol margin, account leverage, number of orders in aggregate position and risk level, set in the Risk parameter
Risk — a positive integer value from 1 to 10, where 1 means the minimum risk level and 10 means the maximum one.
Maximum Lot Size — the maximum possible lot size. If this parameter is equal to zero, the lot size is limited only by the broker.
Use Equity Stop — if this parameter is true, all open orders will be forcibly closed when the drawdown level specified in Total Equity Risk is reached.
Total Equity Risk, % — used only if Use Equity Stop = true.
Enable BUY Positions, Enable SELL Positions — these two parameters allow the trader to enable trading in one direction only, if necessary.
Allow Hedging — permission for parallel opening of opposite positions (BUY and SELL)
Take Profit — number of points* to take profit from an aggregate position. If the value of this parameter is zero, take profit will not be set.
Maximum Number of Orders — a limit on the number of orders that constitute an aggregate position of one direction (BUY or SELL)
Default Order Step — number of points* to calculate the step between orders of the same direction
Use Dynamic Order Step — allow automatic calculation of the step between orders. If the value of this parameter is false, orders will be opened in steps of Default Order Step value.
Step Calculation Depth — a number of bars on the chart used to calculate the step between orders.
Step Calculation Ratio — coefficient for calculating the pitch between orders. The higher the value, the wider the step will be.
RSI Minimum, RSI Maximum — upper and lower limits for the RSI indicator. When the 14-period RSI on the H1 chart is outside this corridor, no new positions will be opened.
Use Trailing Stop, Points to Activate Trailing Stop, Trailing Stop Distance — trailing stop parameters.
If the value of Points to Activate Trailing Stop is greater than Take Profit, the trailing stop will never be activated. For the trailing stop to work correctly, the Take Profit value should be set to zero or greater than [Points to Activate Trailing Stop minus Trailing Stop Distance] value.
Use Adaptive Filters — this option allows the use of adaptive filters cascade to open a new position. This value should always be true.
* Wherever parameter values are specified in points, they mean the standard 4-digit points (not 5-digit pips)! If the broker uses 5-digit quotes (which is most likely), these values will be recalculated automatically!
Enable Push Notification — permission to send push notifications to trader’s smartphone. To send notifications, it is necessary to enable them in the terminal settings (Ctrl+O → Notification tab) and specify MetaQuotes ID there.
Drowdown Level 1, Drowdown Level 2 — thresholds above which notifications will be sent
Re-notification Interval — repeat notifications will not be sent more often than defined here
MagicNumber — the identifier of the orders opened by the EA. This option has no effect on the trade. Leave the default value to always remember the developer’s WhatsApp :)
Commentary — a small text string to help identify EA orders
Pairs To Use
The EA works on all pairs.
Chose pairs with a low spread between 1-6 pips / 10 - 60 points.
Below are the pairs the engineer uses and the profit per pair.
The blow graphs can be found on the EA's FXBlu page.
Symbol - Number Of Trades
The % means the number of trades placed as a % relative to the other pairs. Example. USDJPY placed 37.2% of the trades, compared to EURJPY that only placed 13.6%. The % of trades placed does not = the profit. More trades placed by the EA per pair may not mean more profit for you.
Symbol - Net Profit
This graph below depicts the profit each symbol / currency pair has produced relative to the other symbols. As you can see GBPAUD has produced more profit than the other currency pairs.
You would need to play around with pairs and decide for yourself which pairs to use. Be conservative with lot size & don't over leverage the EA.