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Instructions for Installation and Application of the Expert Advisor Magic-Champ II Version 1.6 ( Basic

Instructions for Installation and Application of the Expert Advisor Magic-Champ II Version 1.6 (Basic & Pro)

Congratulations to the purchase of this Expert Advisor. Following you will find all necessary information in order to successfully install and activate the EA on your trading account.

Please always note the terms and conditions http://www.metatrader-experts.de/en/terms-a-conditions.html and the safety instructions http://www.metatrader-experts.de/en/safety-instructions.html You trade this system on your own responsibility and risk. Good luck!

Installation of the CodeMeter-Software & the according Activation File Installation MC_II_V16.dll The MC_II_V16.dll
Installation of the CodeMeter-Software & the according Activation File
Installation MC_II_V16.dll
The
MC_II_V16.dll
must
be
copied
into
the
folder
MetaTrader/experts/libraries
Installation Magic_Champ_II_DLL_V1.6_xx.ex4

Before you follow steps 1,2 and 3, close your MetaTrader!

1.

As the first step you will need the software CodeMeter from the company WIBU-SYSTEMS AG. This free software is necessary in order for MetaTrader to be able to read the encrypted DLL –file delivered to you. The instructions for the installation of CodeMeter and the application of the according activation file (Activation*.WibuCmRaU) can be found on our Website. http://www.metatrader-experts.de/en/installation-dll.html

2.

The EA is secured by an encrypted DLL and only works with the provided version MC_II_V16.dll. Please copy the DLL in the folder MetaTrader/experts/libraries.

WARNING:

WARNING: Please ensure that no other versions of MC_II_V16.dll are enclosed in any of the MetaTrader subfolders! Please delete all older versions of MC-II DLLs if available.

WARNING: The MC-II_V16.dll must be named exactly as delivered to you and the file name may not be altered (e.g. when downloading the file it sometimes may happen that the file name is changed to MC-II_V16(1).dll)

3.

happen that the file name is changed to MC-II_V16(1).dll) 3. The Magic_Champ_II_DLL_V1.6_xx.ex4 must be copied into

The Magic_Champ_II_DLL_V1.6_xx.ex4 must be copied into the folder MetaTrader/experts. Depending on the actual version of the MC-II EA the file name may deviate from the one mentioned in this manual (e.g.

Magic_Champ_II_DLL_V1.6_04_xx.ex4).

WARNING: The *.ex4-file must be copied into the folder MetaTrader/experts.

WARNING: Please ensure that no other versions of Magic_Champ*.ex4 enclosed in any of the MetaTrader subfolders! Please delete all older versions of Magic-Champ*.ex4 if available.

ForexInnovation GmbH betreibt die Anlage- und Abschlussvermittlung als gebundener Agent im Sinne des §2 Abs. 10 Satz 1 KWG ausschließlich im Auftrage und unter der Haftung der HPM - Hanseatisches Portfoliomanagement GmbH, Fährhausstrasse 8, 22085 Hamburg.

ForexInnovation GmbH c/o Alexander Klingelhöfer Gustav-Leo-Straße 5 20249 Hamburg Deutschland

Geschäftsführer:

www.metatrader-experts.de info@metatrader-experts.de +49 (0) 151 50 72 10 - 02/03/04 Ust-IdNr. DE 269769344

Postbank Hannover

Alexander Klingelhöfer

KtNr

11031309

Thomas Rosenkranz

Blz

25010030

Andreas Vietrich

IBAN DE44250100300011031309

 

BIC

PBNKDEFF

4. DLL Activation in MetaTrader When you start MetaTrader for the first time or have

4. DLL Activation in MetaTrader

When you start MetaTrader for the first time or have not allowed the global use of DLLs by MetaTrader, you have to proceed as described on the following two images in order to allow the use of DLLs through MetaTrader. If you do not want this, you may also adjust the settings upon each activation of the EA. But you must not forget it, or the EA will not execute any trades.

must not forget it, or the EA will not execute any trades. Deactivate „Confirm DLL function
Deactivate „Confirm DLL function calls“
Deactivate „Confirm DLL function calls“

5.

In the global (common) settings you must uncheck the box for the safety setting „Confirm DLL function calls“!If you do not, Magic-Champ II will not trade!

calls “!If you do not, Magic-Champ II will not trade! ForexInnovation GmbH betreibt die Anlage- und

ForexInnovation GmbH betreibt die Anlage- und Abschlussvermittlung als gebundener Agent im Sinne des §2 Abs. 10 Satz 1 KWG ausschließlich im Auftrage und unter der Haftung der HPM - Hanseatisches Portfoliomanagement GmbH, Fährhausstrasse 8, 22085 Hamburg.

ForexInnovation GmbH c/o Alexander Klingelhöfer Gustav-Leo-Straße 5 20249 Hamburg Deutschland

Geschäftsführer:

www.metatrader-experts.de info@metatrader-experts.de +49 (0) 151 50 72 10 - 02/03/04 Ust-IdNr. DE 269769344

Postbank Hannover

Alexander Klingelhöfer

KtNr

11031309

Thomas Rosenkranz

Blz

25010030

Andreas Vietrich

IBAN DE44250100300011031309

 

BIC

PBNKDEFF

6. MetaTrader Data Preparation Important prior to the activation of the MC-II on the chart:

6. MetaTrader Data Preparation

Important prior to the activation of the MC-II on the chart: In order for the EA to have enough data available for initial calculation, you must activate every time level (M1 M5 M15 M30 H1 H4) for once and wait until the data in the chart has been loaded and can be seen. Magic-Champ II is applicable for EUR/USD and GBP/USD. Therefore you have to load the data for both of these currency pairs!

you have to load the data for both of these currency pairs! Activation of Magic-Champ II
Activation of Magic-Champ II
Activation of Magic-Champ II

As soon as the data is completely visible on the chart you can activate the next timeframe. If some trading data is missing, you will receive a warning notice, indicating in which specific timeframe the data is insufficient. In this case please remove the EA from the chart, activate the affected timeframe and then re- enable the EA. If you wish to run the EA 24/7/365 without interruption, you must complete the data activation only once before the first start of the EA.

7.

If you have completed all the steps correctly, you can drag the EA onto the chart and should see a menu as shown in the picture below.

chart and should see a menu as shown in the picture below. ForexInnovation GmbH betreibt die

ForexInnovation GmbH betreibt die Anlage- und Abschlussvermittlung als gebundener Agent im Sinne des §2 Abs. 10 Satz 1 KWG ausschließlich im Auftrage und unter der Haftung der HPM - Hanseatisches Portfoliomanagement GmbH, Fährhausstrasse 8, 22085 Hamburg.

ForexInnovation GmbH c/o Alexander Klingelhöfer Gustav-Leo-Straße 5 20249 Hamburg Deutschland

Geschäftsführer:

www.metatrader-experts.de info@metatrader-experts.de +49 (0) 151 50 72 10 - 02/03/04 Ust-IdNr. DE 269769344

Postbank Hannover

Alexander Klingelhöfer

KtNr

11031309

Thomas Rosenkranz

Blz

25010030

Andreas Vietrich

IBAN DE44250100300011031309

 

BIC

PBNKDEFF

Magic-Champ II is solely working with the currency pairs EUR/USD and GBP/USD. If you wish

Magic-Champ II is solely working with the currency pairs EUR/USD and GBP/USD. If you wish to enable the EA on both currency pairs you have to activate it on both currency pairs accordingly. Subsequently you are able to adjust the in the following described parameters individually.

8. Parameter settings for the Magic-Champ II EA

language language = 1  the information text on the chart will be in German
language
language = 1  the information text on the chart will be in German language
language = 2  the information text on the chart will be in English language
MAGICNUMBER
The MAGIC NUMBER in 99% of the cases is not relevant. You need this only if you trade
with more than one EA. A distinction is then usually necessary by the MAGIC NUMBER. The
MC-II has by default 946 137 412.
longAllowed
longAllowed = true  the EA will execute LONG trades
longAllowed = false  the EA will not execute any LONG trades
shortAllowed
shortAllowed = true  the EA will execute SHORT trades
shortAllowed = false  the EA will not execute any SHORT trades

After you have dragged the EA on the chart, a window appears where you can adjust your trading variables. The following is a description of each variable.

General Variables

BASIC & PRO

BASIC & PRO

BASIC & PRO

BASIC & PRO

PRO BASIC & PRO BASIC & PRO BASIC & PRO ForexInnovation GmbH betreibt die Anlage- und

ForexInnovation GmbH betreibt die Anlage- und Abschlussvermittlung als gebundener Agent im Sinne des §2 Abs. 10 Satz 1 KWG ausschließlich im Auftrage und unter der Haftung der HPM - Hanseatisches Portfoliomanagement GmbH, Fährhausstrasse 8, 22085 Hamburg.

ForexInnovation GmbH c/o Alexander Klingelhöfer Gustav-Leo-Straße 5 20249 Hamburg Deutschland

Geschäftsführer:

www.metatrader-experts.de info@metatrader-experts.de +49 (0) 151 50 72 10 - 02/03/04 Ust-IdNr. DE 269769344

Postbank Hannover

Alexander Klingelhöfer

KtNr

11031309

Thomas Rosenkranz

Blz

25010030

Andreas Vietrich

IBAN DE44250100300011031309

 

BIC

PBNKDEFF

In the PRO – Version the Magic-Champ II offers three different Money-Management variants! In the

In the PRO – Version the Magic-Champ II offers three different Money-Management variants! In the BASIC – Version only the Fixed Fractional Money Management (without Adaptive option) is available!

Money Management (without Adaptive option) is available! MoneyManagement_Variant = 1  if you set the variable
MoneyManagement_Variant = 1  if you set the variable MoneyManagement_Variant to 1. The EA will
MoneyManagement_Variant = 1
 if you set the variable MoneyManagement_Variant to 1. The EA will then risk a fixed
percentage of your current account balance per trade (open gains / losses from current
trades are not taken into account, it is calculated from the actual account balance).
The Stoploss of the system is dynamic and can be different for every trade, depending on
different scenarios. It is adjusted for each trade so that lot size is a function of the account
balance, the SL and the risk.
risk_Long_Percent  indicates how many % of the current account balance the next
trade is risked in Long direction upon reaching the SL
risk_Short_Percent  indicates how much% of the current account balance the next
trade is risked in Short direction upon reaching the SL

MM1: Fixed Fractional Money Management (FFM)

BASIC & PRO

BASIC & PRO

BASIC & PRO

(FFM) BASIC & PRO BASIC & PRO BASIC & PRO ForexInnovation GmbH betreibt die Anlage- und

ForexInnovation GmbH betreibt die Anlage- und Abschlussvermittlung als gebundener Agent im Sinne des §2 Abs. 10 Satz 1 KWG ausschließlich im Auftrage und unter der Haftung der HPM - Hanseatisches Portfoliomanagement GmbH, Fährhausstrasse 8, 22085 Hamburg.

ForexInnovation GmbH c/o Alexander Klingelhöfer Gustav-Leo-Straße 5 20249 Hamburg Deutschland

Geschäftsführer:

www.metatrader-experts.de info@metatrader-experts.de +49 (0) 151 50 72 10 - 02/03/04 Ust-IdNr. DE 269769344

Postbank Hannover

Alexander Klingelhöfer

KtNr

11031309

Thomas Rosenkranz

Blz

25010030

Andreas Vietrich

IBAN DE44250100300011031309

 

BIC

PBNKDEFF

Fixed Fractional Money Management (FFM) + adaptive Money-Management (only PRO – Version ) use_Adaptive_MM =

Fixed Fractional Money Management (FFM) + adaptive Money-Management (only PRO – Version)

(FFM) + adaptive Money-Management (only PRO – Version ) use_Adaptive_MM = true  the method of
use_Adaptive_MM = true  the method of the adaptive money management works only if the
use_Adaptive_MM = true  the method of the adaptive money management works only
if the method of the FFM (MoneyManagement _Variant 1) was activated. The EA
calculates before each trade the theoretical risk of the trade by dividing the accumulated
profit by the fixed divider. If the result of this division is greater than the risk that results
from the normal application of FFM, that risk is used. The risk per trade may increase
significantly through the use of the adaptive money management.
use_Adaptive_MM = false  the adaptive Money-Management is deactivated

Divisor_Long the profit LONG for the currency pair is divided by the Divisor_Long in order to compare the resulting risk for the next Long-trade against the value from the FFM

Adaptive Money-Management

The adaptive MM has been divided into Long and Short. If a long trade is triggered, only the profits generated through long trades are used and divided with the Long-Divider. Profits generated by short trades are accordingly only used for short trades and are not taken into account for Long. If the EA has for example produced 3000 € of profits for Long and 1000 € losses for short, it will increase the risk of the adaptive Long MM, since the 3000 € is used as the basis of profit, whereas for short there is no increase in risk.

Before using the adaptive money management please read the detailed description on our website.

ONLY PRO

ONLY PRO

Divisor_Long / Divisor_Short

The divisor determines by which value the past performance of the system profit is divided by per direction of the trade in order to determine the new fictitious LotSize for the next trade. If the resulting risk is greater than that which results from the use of FFM, that risk is used. We have limited the divisor to a minimum value of 5! If the divider is set to a value less than 5, the system uses 5 as the minimum value and a warning is issued at the start of the EA.

value and a warning is issued at the start of the EA. ONLY PRO ONLY PRO

ONLY PRO

ONLY PRO

Divisor_Short the profit LONG for the currency pair is divided by the Divisor_Short in order to compare the resulting risk for the next Long-trade against the value from the FFM

ForexInnovation GmbH betreibt die Anlage- und Abschlussvermittlung als gebundener Agent im Sinne des §2 Abs. 10 Satz 1 KWG ausschließlich im Auftrage und unter der Haftung der HPM - Hanseatisches Portfoliomanagement GmbH, Fährhausstrasse 8, 22085 Hamburg.

ForexInnovation GmbH c/o Alexander Klingelhöfer Gustav-Leo-Straße 5 20249 Hamburg Deutschland

Geschäftsführer:

www.metatrader-experts.de info@metatrader-experts.de +49 (0) 151 50 72 10 - 02/03/04 Ust-IdNr. DE 269769344

Postbank Hannover

Alexander Klingelhöfer

KtNr

11031309

Thomas Rosenkranz

Blz

25010030

Andreas Vietrich

IBAN DE44250100300011031309

 

BIC

PBNKDEFF

In the following you will find an example of the adaptive MM and an image

In the following you will find an example of the adaptive MM and an image as it appears on the chart.

Example for the adaptive MM Starting balance 10.000€ // 3% risk per trade // Teiler_Long 8 Current Account Balance 16,000€ = 6,000 € profit (5,000€ profits Long & 1.000 € Short profits) Next Trade:

Risk 1 due to FFM = 16,000€ x 3% = 480€ Risk 2 because of the adaptive MM = Profit-Long/Teiler_Long = 5.000€ / 8 = 625€ >>> the risk 2 due to the adaptive MM Long (625 €) is greater than that of the normal FFM (480 €). The system will therefore risk 625€ on the next trade.

MoneyManagement_Variant = 2  if you set the variable MoneyManagement_Variant to 2, then the EA
MoneyManagement_Variant = 2
 if you set the variable MoneyManagement_Variant to 2, then the EA will initially risk
a fixed amount per trade, plus a transfer of previously earned gains or losses.
basicRisk_L / basicRisk_S
The variable basicRisk_L/S defines the amount in € (or your account currency), which is
the basis of calculation of the actual risk. Should the EA have not made any gains or
losses, the resulting risk for the next trade will correspond to exactly basicRisk_L/S
reinvest_PcL / reinvest_PcS
reinvest_PcL  indicates how many percent of the current profit / loss of all long trades
are added to the basicRisk_L in order to determine the risk of the next long trades. If
for example always 30% of the total profit / loss should be offset, set reinvest_PcL to 30.
reinvest_PcS  indicates how many percent of the current profit / loss of all short trades
are added to the basicRisk_S in order to determine the risk of the next short trades. If
for example, always 30% of the total profit / loss should be offset, set reinvest_PcS to

30.

maxRisk_PcL / maxRisk_PcS The variable maxRisk_PcL/S is the maximum allowable risk per trade, based on the current account balance in%. Through the reinvestment of profits, it can happen that for the currency pair the risk for one trading direction is very high. This can be avoided by the variable maxRisk_PcL/S.

MM2: ReInvest Money-Management

ONLY PRO

ONLY PRO

ONLY PRO

ONLY PRO

Money-Management ONLY PRO ONLY PRO ONLY PRO ONLY PRO ONLY PRO ForexInnovation GmbH betreibt die Anlage-

ONLY PRO

ForexInnovation GmbH betreibt die Anlage- und Abschlussvermittlung als gebundener Agent im Sinne des §2 Abs. 10 Satz 1 KWG ausschließlich im Auftrage und unter der Haftung der HPM - Hanseatisches Portfoliomanagement GmbH, Fährhausstrasse 8, 22085 Hamburg.

ForexInnovation GmbH c/o Alexander Klingelhöfer Gustav-Leo-Straße 5 20249 Hamburg Deutschland

Geschäftsführer:

www.metatrader-experts.de info@metatrader-experts.de +49 (0) 151 50 72 10 - 02/03/04 Ust-IdNr. DE 269769344

Postbank Hannover

Alexander Klingelhöfer

KtNr

11031309

Thomas Rosenkranz

Blz

25010030

Andreas Vietrich

IBAN DE44250100300011031309

 

BIC

PBNKDEFF

Based on the long parameter for the reinvestment it will be explained: Der current account

Based on the long parameter for the reinvestment it will be explained:

Der current account balance is 14,000€, the maximum risk is limited to 5% (700€).

The base risk LONG (basicRisk_L) is 200€ The base risk SHORT (basicRisk_S) is 400€

Thus for LONG 20% of the realized profits / losses are reinvested (reinvest_PcL = 20%). Thus for SHORT 10% of the realized profits / losses are reinvested (reinvest_PcS =10%).

MoneyManagement Variant = 3  set the variable MoneyManagement_Variant to 3, then the EA will
MoneyManagement Variant = 3
 set the variable MoneyManagement_Variant to 3, then the EA will trade a defined lot
size per trade. The resulting risk is not considered by the EA, unless it exceeds the
limit of the Magic-Champ license! So the risk can therefore be higher than the available
capital. Since the SL is dynamic, the risk can vary greatly, depending on how far the SL is
located and how high you set the lot size!
lots_Long  defines the lot size for the next LONG trade
lots_Short  defines the lot size for the next SHORT trade

The current realized profit for LONG is 2.000€ The current realized profit for SHORT is -1.000€

The LONG-risk for the next trade calculates to basicRisk_L + reinvest_PcL x Profit(LONG) = 200 + 20% x 2.000 = 600€

The SHORT-risk for the next trade calculates to basicRisk_S + reinvest_PcS x Profit(SHORT) = 400 + 10% x -1.000 = 300€

MM3: Fixed Lotsize per Trade

ONLY PRO

ONLY PRO

ONLY PRO

MM3: Fixed Lotsize per Trade ONLY PRO ONLY PRO ONLY PRO ForexInnovation GmbH betreibt die Anlage-

ForexInnovation GmbH betreibt die Anlage- und Abschlussvermittlung als gebundener Agent im Sinne des §2 Abs. 10 Satz 1 KWG ausschließlich im Auftrage und unter der Haftung der HPM - Hanseatisches Portfoliomanagement GmbH, Fährhausstrasse 8, 22085 Hamburg.

ForexInnovation GmbH c/o Alexander Klingelhöfer Gustav-Leo-Straße 5 20249 Hamburg Deutschland

Geschäftsführer:

www.metatrader-experts.de info@metatrader-experts.de +49 (0) 151 50 72 10 - 02/03/04 Ust-IdNr. DE 269769344

Postbank Hannover

Alexander Klingelhöfer

KtNr

11031309

Thomas Rosenkranz

Blz

25010030

Andreas Vietrich

IBAN DE44250100300011031309

 

BIC

PBNKDEFF

TradeManagement OrderOpen_withSLTP If you have your account with broker who allows to send the SL

TradeManagement

TradeManagement OrderOpen_withSLTP If you have your account with broker who allows to send the SL and
OrderOpen_withSLTP If you have your account with broker who allows to send the SL and
OrderOpen_withSLTP
If you have your account with broker who allows to send the SL and TP together with the
order opening, set the variable to true.
In case your broker does not allow this (very common for ECN brokers to block this) then
please set the variable to false. You can also test this manually with a small position (e.g.
0.01 Lot).
If you are unsure then set the variable to false, by which the SL is transmitted to the
broker right AFTER the position is opened. However please bear in mind that your order is
unprotected for the milliseconds between order open and placing the SL. If the connection
to the broker is interrupted in this moment your position is not protected through the SL!
Break_After_SL
It is possible that the Expert Advisor will immediately after a stop loss calculate a new
scenario and would also trade this. If you want to prevent that this scenario will be
immediately traded, you can work with the following variable to pause trading:
Break_After_SL.
Break_After_SL determines how many minutes the Expert Advisor is waiting after an SL
of the overall position before a new scenario will be traded. All scenarios within the next
Break_After_SL minutes after a "full SL" will be discarded. Due to the numerous partial
sales of the EA, only SL that affect the entire position (= "full SL" to the overall position)
will be considered. Should an SL come after a first successful partial sale at a TP level, the
(possibly occurring) SL of the remaining part of the position will not be considered by the
variable setting.

BASIC & PRO

ONLY PRO

by the variable setting. BASIC & PRO ONLY PRO ForexInnovation GmbH betreibt die Anlage- und

ForexInnovation GmbH betreibt die Anlage- und Abschlussvermittlung als gebundener Agent im Sinne des §2 Abs. 10 Satz 1 KWG ausschließlich im Auftrage und unter der Haftung der HPM - Hanseatisches Portfoliomanagement GmbH, Fährhausstrasse 8, 22085 Hamburg.

ForexInnovation GmbH c/o Alexander Klingelhöfer Gustav-Leo-Straße 5 20249 Hamburg Deutschland

Geschäftsführer:

www.metatrader-experts.de info@metatrader-experts.de +49 (0) 151 50 72 10 - 02/03/04 Ust-IdNr. DE 269769344

Postbank Hannover

Alexander Klingelhöfer

KtNr

11031309

Thomas Rosenkranz

Blz

25010030

Andreas Vietrich

IBAN DE44250100300011031309

 

BIC

PBNKDEFF

Automation versus manual intervention in the software / trade You can always engage in a

Automation versus manual intervention in the software / trade

You can always engage in a position to change and close the trades according to your wishes, or with partial sales (if your broker allows it). In order for the EA, however, to respond accordingly, i.e. no against your manual engagement, there are some variables that you need to set in principle in order for the EA to automatically open trades and to administer of SL and / or TP automatically.

Auto_Trade_Open = true  the moment of occurrence of a setup the trade is opened
Auto_Trade_Open = true  the moment of occurrence of a setup the trade is opened
automatically in the right direction. The order opening takes place within fractions of
a second, you will NOT be asked explicitly in advance. Since the EA is trading 24 hours
a day without interruption and is looking for suitable setups, this variant is the only way
to realize the full potential of the EA. However, you are free to decide whether you want
to use this.
Auto_Trade_Open = false  the moment of occurrence of a setup, a message box (as
shown in the figure below) appears, allowing you to manually confirm that the trade
should be opened. If you press No, or more than 60 seconds have passed, the setup
is discarded and no trade is opened. Even if you press Yes, but more than 60 seconds
have passed, the trade is not opened. If the price between the start of the query and
manual confirmation has changed significantly, also no trade opens.

Auto_Trade_Open defines if the EA opens a trade in the moment a certain setup occurs.

BASIC & PRO

BASIC & PRO

a certain setup occurs. BASIC & PRO BASIC & PRO ForexInnovation GmbH betreibt die Anlage- und

ForexInnovation GmbH betreibt die Anlage- und Abschlussvermittlung als gebundener Agent im Sinne des §2 Abs. 10 Satz 1 KWG ausschließlich im Auftrage und unter der Haftung der HPM - Hanseatisches Portfoliomanagement GmbH, Fährhausstrasse 8, 22085 Hamburg.

ForexInnovation GmbH c/o Alexander Klingelhöfer Gustav-Leo-Straße 5 20249 Hamburg Deutschland

Geschäftsführer:

www.metatrader-experts.de info@metatrader-experts.de +49 (0) 151 50 72 10 - 02/03/04 Ust-IdNr. DE 269769344

Postbank Hannover

Alexander Klingelhöfer

KtNr

11031309

Thomas Rosenkranz

Blz

25010030

Andreas Vietrich

IBAN DE44250100300011031309

 

BIC

PBNKDEFF

Auto_SL_Management = true  the stop loss order will be determined automatically by the system
Auto_SL_Management = true  the stop loss order will be determined automatically by the system
Auto_SL_Management = true  the stop loss order will be determined
automatically by the system at the opening, routed to the broker server. While the
trade it is also changed, if the programmed scenario for the change occurs. The whole
management is automatic, you do not have to intervene. The trading system was
developed on the basis of this SL-management and it is recommended to use this too.
Auto_SL_Management = false  the SL is routed to the broker at the opening of a
position to the level that you have set for SL_AT_Trade_Open_Long / Short. If you
have set the SL > 0 and larger than the minimum requirement of your broker, then the EA
at the moment of the order opening routes the (your) SL to the broker. You can also use
the variable use_Fixed_Fractional_MM = true, because the EA can calculate the risk
based on your desired SL-distance from the purchase price.
If you use the variable use_Fixed_Fractional_MM = true and simultaneously determine
the SL manually but want to set SL_AT_Trade_Open_Long/Short at 0, the EA will issue a
warning at the start and not trade. Without SL, the risk cannot be restricted, the variable
use_Fixed_Fractional_MM must therefore be set to false with a SL of 0 points (no SL).
The EA will with the setting Auto_SL_Management = false not manage the SL during the
trade. In certain scenarios, the SL is actually adapted from the system in accordance with
clearly defined algorithms. This will not take place if false, you manage yourself the SL
manually or with other software.
SL_AT_Trade_Open_Long/Short  defines the SL in points for Long / Short that is sent
in the opening moment of the order to the broker so long as you have set the variable
Auto_SL_Management to false, i.e. you would like to manage the SL by yourself.
If you adjust SL_AT_Trade_Open_Long/Short to 0, no SL is routed to the broker. Please
note that without stop loss a total loss is at risk! The EA can run 24 hours a day, so it is
always possible that a position is opened at any time of day or night which then needs to
be monitored manually when Auto_SL_Management = false.

Auto_SL_Management defines if the stop loss management is executed by the software or if you would like to take over the trade management manually.

PRO ONLY

PRO ONLY

PRO ONLY

the trade management manually . PRO ONLY PRO ONLY PRO ONLY ForexInnovation GmbH betreibt die Anlage-

ForexInnovation GmbH betreibt die Anlage- und Abschlussvermittlung als gebundener Agent im Sinne des §2 Abs. 10 Satz 1 KWG ausschließlich im Auftrage und unter der Haftung der HPM - Hanseatisches Portfoliomanagement GmbH, Fährhausstrasse 8, 22085 Hamburg.

ForexInnovation GmbH c/o Alexander Klingelhöfer Gustav-Leo-Straße 5 20249 Hamburg Deutschland

Geschäftsführer:

www.metatrader-experts.de info@metatrader-experts.de +49 (0) 151 50 72 10 - 02/03/04 Ust-IdNr. DE 269769344

Postbank Hannover

Alexander Klingelhöfer

KtNr

11031309

Thomas Rosenkranz

Blz

25010030

Andreas Vietrich

IBAN DE44250100300011031309

 

BIC

PBNKDEFF

Auto_TP_Management = true  the software will manage the take profit, and depending on the
Auto_TP_Management = true  the software will manage the take profit, and depending on the
Auto_TP_Management = true  the software will manage the take profit, and
depending on the scenario certain positions will be closed at different moments. The
whole TP management is fully automatic. You do not need intervene. The trading
system was developed on the basis of this TP-management and it is recommended to use
this too.
Auto_TP_Management = false  the programmed algorithm for fully automatic TP
management is not used. At the moment the order is opened the TP is sent to the
broker that you have set for TP_AT_Trade_Open_Long/Short.
TP_AT_Trade_Open_Long/Short  specifies in points the TP for Long / Short that is sent
in the opening moment of the order to the broker. If you have set
Auto_TP_Management to false, there will be no automatic TP administration.
If you adjust TP_AT_Trade_Open_Long/Short to 0, no TP is routed to the broker for the
opened position. You need to determine when a position is closed!
The TP must also meet the minimum requirements of your broker. If the TP is too small,
i.e. too close to the opening price, no position can be opened.

Auto_TP_Management defines whether the TP management is done by the software or if you would like to take over manually.

PRO ONLY

PRO ONLY

PRO ONLY

like to take over manually . PRO ONLY PRO ONLY PRO ONLY ForexInnovation GmbH betreibt die

ForexInnovation GmbH betreibt die Anlage- und Abschlussvermittlung als gebundener Agent im Sinne des §2 Abs. 10 Satz 1 KWG ausschließlich im Auftrage und unter der Haftung der HPM - Hanseatisches Portfoliomanagement GmbH, Fährhausstrasse 8, 22085 Hamburg.

ForexInnovation GmbH c/o Alexander Klingelhöfer Gustav-Leo-Straße 5 20249 Hamburg Deutschland

Geschäftsführer:

www.metatrader-experts.de info@metatrader-experts.de +49 (0) 151 50 72 10 - 02/03/04 Ust-IdNr. DE 269769344

Postbank Hannover

Alexander Klingelhöfer

KtNr

11031309

Thomas Rosenkranz

Blz

25010030

Andreas Vietrich

IBAN DE44250100300011031309

 

BIC

PBNKDEFF

9. Controlling the EA through Time-Management You can set the EA to stop automatically at

9. Controlling the EA through Time-Management

You can set the EA to stop automatically at a certain time of day.

Stopping the EA has the following effects:

1.

2.

3.

4.

Upon reaching lastSignal Time no new trade is generated on this day. Still open positions are managed normally or closed if and more open trades are normally managed, or closed when endTime is reached.

Upon reaching the closed endTime ALL of the positions from the EA and corresponding currency
Upon reaching the closed endTime ALL of the positions from the EA and corresponding
currency pair are closed immediately
no new trade is opened until the stop condition is no longer valid
This allows you to automatically prevent, for example a trade in a weekend-GAP. Also if you want
to close all positions at a certain time of day, e.g. news time, you can do the same.
use_Time_Management defines if the automatic time management shall be activated
use_Time_Management = true  automatic time management is activated
use_Time_Management = false  the EA trades without time limitation. Trades are
produced and executed without interruption.
use_Local_Time / use_Server_Time
These two variables determine whether the timing is taking place on the local computer
time or server time of the broker
use_Local_Time = true  your local computer time will be the reference. Please check
the time!

use_Server_Time = true the server time of the broker (see time shift on the chart of the broker) is used as reference

BASIC & PRO

BASIC & PRO

BASIC & PRO

BASIC & PRO

PRO ONLY

& PRO BASIC & PRO BASIC & PRO PRO ONLY the MetaTrader conventions for days is

the MetaTrader conventions for days is as follows 0 = Sunday / 1 = Monday / 2 = Tuesday / 3 = Wednesday / 4 = Thursday/ 5 = Friday / 6 = Saturday

BASIC & PRO

startTime_Day defines the day on which the trading may begin in the week

BASIC & PRO

startTime_Hour defines the hour at which the trading may begin

Example: startTime_Day = 3 startTime_Hour = 5 trading will start on Wednesday at 05:00 o’clock.

ForexInnovation GmbH betreibt die Anlage- und Abschlussvermittlung als gebundener Agent im Sinne des §2 Abs. 10 Satz 1 KWG ausschließlich im Auftrage und unter der Haftung der HPM - Hanseatisches Portfoliomanagement GmbH, Fährhausstrasse 8, 22085 Hamburg.

ForexInnovation GmbH c/o Alexander Klingelhöfer Gustav-Leo-Straße 5 20249 Hamburg Deutschland

Geschäftsführer:

www.metatrader-experts.de info@metatrader-experts.de +49 (0) 151 50 72 10 - 02/03/04 Ust-IdNr. DE 269769344

Postbank Hannover

Alexander Klingelhöfer

KtNr

11031309

Thomas Rosenkranz

Blz

25010030

Andreas Vietrich

IBAN DE44250100300011031309

 

BIC

PBNKDEFF

endTime_Day  specifies the day on which the EA is stopped. The EA is stopped
endTime_Day  specifies the day on which the EA is stopped. The EA is stopped
endTime_Day  specifies the day on which the EA is stopped. The EA is stopped for the
rest of the remaining trading week! On Monday (startTime_Day = 1) then begins the
normal trading, unless you set startTime_Day to a different value or disabled
use_Time_Management.
endTime_Hour  defines the hour from which the EA will not trade anymore, as long as
endTime_Day and endTime_Minute is reached or exceeded
endTime_Minute  defines the minute from which the EA does not trade anymore, as
long endTime_Day and endTime_Minute is reached or exceeded

The EA will upon reaching the defined end time close all open positions of the according currency pair immediately and will not open any new positions.

BASIC & PRO

BASIC & PRO

BASIC & PRO

If the ending time is reached a notice is displayed on the chart.

ending time is reached a notice is displayed on the chart. ForexInnovation GmbH betreibt die Anlage-

ForexInnovation GmbH betreibt die Anlage- und Abschlussvermittlung als gebundener Agent im Sinne des §2 Abs. 10 Satz 1 KWG ausschließlich im Auftrage und unter der Haftung der HPM - Hanseatisches Portfoliomanagement GmbH, Fährhausstrasse 8, 22085 Hamburg.

ForexInnovation GmbH c/o Alexander Klingelhöfer Gustav-Leo-Straße 5 20249 Hamburg Deutschland

Geschäftsführer:

www.metatrader-experts.de info@metatrader-experts.de +49 (0) 151 50 72 10 - 02/03/04 Ust-IdNr. DE 269769344

Postbank Hannover

Alexander Klingelhöfer

KtNr

11031309

Thomas Rosenkranz

Blz

25010030

Andreas Vietrich

IBAN DE44250100300011031309

 

BIC

PBNKDEFF

End of signal scanning It is possible to limit the scanning for new entry signals

End of signal scanning

End of signal scanning It is possible to limit the scanning for new entry signals before
It is possible to limit the scanning for new entry signals before the trading is
It is possible to limit the scanning for new entry signals before the trading is stopped.
In this example no more trades would be opened after Friday 6:30 p.m. even if entry
signals would be generated by the EA.
All still open trades will be monitored beyond this defined time until reaching the actual
endTime and are then closed. But there are no longer trades which are opened right
before reaching the end time.
Slippage  no trades are opened if the actual slippage is greater than the defined
maximum allowed slippage
MaxSpread  no trades are opened if the actual spread is greater than the MaxSpread
value
Please check everything in the tab “Experts” of your MetaTrader

PRO ONLY

BASIC & PRO

BASIC & PRO

10.

There must be a confirmation that your account number is known and the license is valid.

that your account number is known and the license is valid. If you experience an y

If you experience any problems with the software, or if you have any questions, please contact us via or contact form http://www.metatrader-experts.de/en/contact.html

Good luck and success with your EA, your team from ForexInnovation

ForexInnovation GmbH betreibt die Anlage- und Abschlussvermittlung als gebundener Agent im Sinne des §2 Abs. 10 Satz 1 KWG ausschließlich im Auftrage und unter der Haftung der HPM - Hanseatisches Portfoliomanagement GmbH, Fährhausstrasse 8, 22085 Hamburg.

ForexInnovation GmbH c/o Alexander Klingelhöfer Gustav-Leo-Straße 5 20249 Hamburg Deutschland

Geschäftsführer:

www.metatrader-experts.de info@metatrader-experts.de +49 (0) 151 50 72 10 - 02/03/04 Ust-IdNr. DE 269769344

Postbank Hannover

Alexander Klingelhöfer

KtNr

11031309

Thomas Rosenkranz

Blz

25010030

Andreas Vietrich

IBAN DE44250100300011031309

 

BIC

PBNKDEFF