VARIABLES (you will be able to change them):


Order Size – from the lowest to the highest the broker allows, e.g. from 0.01 or 0.1 to 5.0 or 10.0 lots. It can be changed manually or automatically with the increase of available Balance. Unlike other robots, you can use maximum available Order Size, e.g. 8.0 or 15.0 lots, etc. as the robot closes orders almost instanlty and has very small Stop Loss, so there is little risk of losing much equity on 1 trade.

Order Count – maximum number of orders open at once. The value can be from 1 to 5 trades. However, this doesn’t mean that if the count is set to e.g. 3, it will definitely open 3 trades, but maximum 3 trades. The robot evaluates how many trades are best to open in this moment, so it can be only one or two.

Safety Margin - allows either many trades with small profits or few trades with higher profits and high accuracy. Most common values are from 0 to 2. This is the most important function of the robot. It can be also a fraction, e.g. 0.8 (meaning 0.8 pips) in case of 5-digit quotations.

Exit Gap - is the same thing as “Safety Margin”, but for closing the trades. But trades can be also closed differently by using Trailing Stop Loss, Take Profit or another way depending on the broker and strategy chosen.

Close Orders When Same Price – it decides whether orders are closed by Exit Gap or Trailing Stop Loss.

Trailing Stop Loss - works like any other Trailing Stop in MT4. It must be set to work in cerain conditions. It doesn't work automatically.

Close Order Delay – you can delay the time of closing the order by 1, 2, 8, 10, etc. minutes in case a broker has restrictions as to the minimum time of orders being kept open.

Risk Management – can be set as a percentage of the Balance so the trader doesn’t lose his/her money in case of unexpected market movements or broker’s price feed changes and other platform factors. It can have any value from 1 to 100, e.g. 5, meaning that only 5% of the balance value can be risked, otherwise it stops trading.

Trade On Half Hour - trades are executed only at 30 min intervals, like 10:00, 14:30, etc. when the price movements are biggest due to Market Opening/Closing in UK or US and during Economic News releases.

Pending Orders – it's possible to place pending orders, which work best with ECN brokers. In case of MM, best are Market (instant) orders.

Use ECN - in case of ECN brokers, they have sometimes a different way of placing orders comparing to MM brokers, especially placing the Stop Loss. You can use this option if you want to trade with ECN brokers.

Take Profit Points - Generally it’s not necessary to use Take Profit, since we want the Robot to make as much profit as possible. It’s just in case when the platform freezes or there are any other reasons that the orders cannot be closed or modified, but having the Take Profit would make the order close anyway.

Extra Stop Loss - in case the automatic Stop Loss is too low in some companies, e.g. only 2-3 pips from the current price, you can add additional Stop Loss points to make it safer to place orders.

 

Below is a screenshot with those variables when you attach the robot to a chart:

 



 

NOTE:
You don't have to change most of these variables. They will be preset when you buy the robot. You will also get a manual with exact explanation of the variables and how to set up the robot.
Variables and built-in functions may change with new versions and updates.


 
BUILT-IN FUNCTIONS (cannot be changed by you):

Magic Number - allows other robots to trade or you can trade manually on the same account without any interference.

Messaging – you will always get comments in the “Experts” tab about the orders, problems, causes of stoppage of the trading, etc. so you will know what happened and what actions should be taken if necessary.

Minimum Stop Loss - the robot places the Stop Loss as low as the broker allows, e.g. 3, 5, 10 pips, so in case of some unexpected market movements little equity is risked. In normal condition this Stop Loss is hit very seldom.

Auto Trailing Stop - if the order starts being positive, an automatic Trailing Stop is employed to maximize profits. It works independently from the Trailing Stop Loss set up in Variables (at the top) which works only in cerain conditions. This one works all the time.

Spreads Recognition – the "FX ROBOT" can deal both with fixed and variable spreads as well as with 5-digit spreads, e.g. 1.48725.

Symbol Recognition – most common symbol is with no extension, e.g. EURUSD, but some brokers have additional marks after or before the symbol, e.g. EURUSD#, EURUSDfx, EURUSDVIP, etc. The "FX ROBOT" can deal with all those symbols and marks.