SignalProvider EA configuration
Here you can find information about SignalProvider EA. Please see contents below:
- General info
SignalProvider EA is responsible for sending signals from the Master (Source) terminal(s) to the Slave terminal(s). Signals are then executed with the help of SignalProcessor EA which is running on the Slave (Receiver) terminal(s).
Important: you need to have only one SignalProvider EA on the Master terminal. Anyway it will process all trades from all currency pairs.Installation
If you prefer automatic installation (recommended)
then SignalProvider EA will be attached to the chart and configured automatically.
If you prefer manual installation and attach SignalProvider EA to the chart manually then please make sure that in EA settings window:
- Allow DLL imports box is checked
- Confirm DLL function calls box is unchecked
- Allow live trading setting is not important for SignalProvider and can be either checked or unchecked
See the screenshot below:
After the installation we recommend to save the default settings (click Save button
on the “Inputs” tab). It is a useful action in case you close the chart
accidentally, then you will be able to restore the settings from the saved file.
It is important to enable EA execution in the terminal:
Please see the description of SignalProvider’s settings below:
DestinationDir - path to "experts\files" folder of the Slave (Receiver) Meta Trader 4 terminal. For example "C:\MT\FXCM\experts\files". If you use Forex Copier Multiaccount version, then instead of DestinationDir you will have DestinationDir1 – DestinationDirN. Each of them represents the path to one of the recipients.
LotMultiplier - lot that signal provider opened on his account will be multiplied on this value. It allows you to decrease or increase resulting lot to suit your requirements to your account.
Example 1: Signal provider trades on $1000 account, your account is $50000, if you copy signal provider's trades as is you will get too small profit (loss). So you can set multiplier 50, and when signal provider opened position with lot 0.1 you will get position with lot 5.
Example 2: Signal provider trader on account $100000, your account is $20000. It will be dangerous to your account to open the same lot, sometimes it will be impossible. So you can set multiplier 0.2 and when signal provider opened position with lot = 10 you will get position with lot = 2. If resulting lot is smaller then minimum lot in your MetaTrader then it will be used minimum lot.
- BoostMode – If this parameter = true (default) then the EA does not have to wait for a new tick to work. If it is set to false
then the software works as usual MT4 EA and checks for changes on every tick (price change in
the terminal). This can cause long delays if the price changes rarely, but this
is how the experts should work in MetaTrader.
Note: If BoostMode=true then you will need to stop experts to open EA properties.
CopyPendingOrders - if this parameter is set to false then BUY LIMIT, SELL LIMIT, BUY STOP and SELL STOP orders will not be co be copied. This parameter will not affect copying of orders of other types.
Please review the table below if you wish to filter orders by type. The table shows which order types will not be copied if you set some of the properties to false.
Order type Setting which is
set to "false"
BUY SELL BUY LIMIT SELL LIMIT BUY STOP SELL STOP MODIFY DELETE Pending BUY execution Pending SELL Execution CopyLong CopyShort CopyBuy CopySell CopySellStop CopySellLimit CopyBuyStop CopyBuyLimit CopyModifyOrders CopyDeleteOrders - signals will be processed if other settings allow this - signals will not be processed.
CopyOnlyProfitableTrades - if this parameter is set to true then orders will be copied only in case the profit of the order is more or equal to X pips. X=MinimumProfitPips. Note that you'll probably need to increase ExpirationMinutes and PriceDifferencePips properties on Processor side if you use this setting.
MinimumProfitPips - see CopyOnlyProfitableTrades (is described above).
CopyOnlyLosingTrades - if this parameter is set to true then orders will be copied only in case the drawdown of the order is X pips or more (profit= -X, -X-1, -X-2, ..). X=MinimumLosingPips (this setting should be positive). Note that you'll probably need to increase ExpirationMinutes and PriceDifferencePips properties on Processor side if you use this setting.
MinimumLosingPips - see CopyOnlyLosingTrades (is described above).
StopTradingWhenEquityIsLessThan – When this option is enabled Copier will stop sending "Open order" signals to Slave terminal in case when Equity level of this Master account is less than value in StopTradingWhenEquityIsLessThan.
"0.0" value disables this option.
StopTradingOnDrawdownPercent – When this option is enabled Copier will stop sending "Open order" signals to Slave terminal in case when Drawdown percent of this Master account is less than some value.
Drawdown is calculated as the difference between current Equity and maximum historical Equity in percentage.
"0.0" value disables this option.
CloseAllPositionsOnStopTrading – if this option is enabled then Copier will close all orders on this Master account when the trading is stopped due to low Equity level or too big Drawdown level (see StopTradingWhenEquityIsLessThan and StopTradingOnDrawdownPercent options).
In other case (when CloseAllPositionsOnStopTrading=false) Copier will leave the orders alive until they are closed by SL/TP levels.
- ShowInfoLabels – if this parameter is "true" then Copier will show the information labels in the left-top corner of the chart.
- ShowAdvancedLogs – if this parameter is "true" then Copier will write more information into log files, this parameter is used for debug purposes.
- RegKey – Registration key, without this key Copier will work in Demo Mode.