Trading Window

• Trade only in defined kill zone: If set to false, the trades will run the entire day. If set to true, you need to set the starting and ending hours of your kill zone 

• Kill Zone Start Hour (0-23): Starting hour of the kill zone

• Kill Zone Start Minute (0-59): Starting minute of the kill zone

• Kill Zone End Hour (0-23): Ending hour of the kill zone

• Kill Zone End Minute (0-59): Ending minute  of the kill zone

• Kill Zone Color: This parameter will help you specify the color that would fit your charts and style

Trade Settings

• Allow Buy: If set to true, buy trades are taken in case criteria are respected. If set to false, no buy trades are taken.

• Allow Sell: If set to true, sell trades are taken in case criteria are respected. If set to false, no sell trades are taken.

• Limit Orders on FVG: If set to true, orders will be opened as limit order, usually on the extremity or middle of the FVG

• Stop Orders After FVG: If set to true, orders will be opened as stop orders on the high/low of the candle following the FVG

• Trade at Market Price: This parameter is to handle the case where you are trading on a low timeframe or trading high spread pairs like BTC, as example. Limit orders and stop orders will fail if the price is between ASK and BID prices. Enabling this parameter will allow the EA to take trades at market prices.

  • Recalculate Trade on Market Price: Enabling the EA to recalculate again the SL, TP and Risk based on the new price given by the market

• Order expiry in minutes (0-->not used): This parameter will allow you to set an expiration time for your orders. For example, when trading on the 1 hour, you may not need your order to stay there for more than a week if not triggered.

• Max trades per session/day: You can define here the maximum trades to be opened per session or day if the time window is not used. A low number within a window usually leads to trades taken at the beginning of the window. This parameter considers active positions, orders, and closed ones opened during the session.

• Max Simultaneous open trades: This parameter will help you limit the number of simultaneous open trades. It is handy to limit the drawdown.

• Rotate Orders on new FVG: This parameter works with max trades per session and max trades open. In case the maximum limit is reached, and a new FVG appears, if this parameter is set to true, the highest price order in case of Sell limit or Buy Stop will be deleted, and a new order is set on the new FVG. In case of a Buy Limit or Sell Stop, the order with the lowest price will be deleted and replaced by an order close to the current price. The parameter is mainly used to increase the chance of entering a current move while keeping in mind your RR may be lower.

• Don't open new trade if previous in loss: If set to true, no new trades will be taken if previous trades are in loss. 

Entry Settings

• Enter On: It is an option that will help you set where to put the entry price vis-à-vis of the FVG

  • 1. • Extremity FVG: Enter at the extremity of the FVG

       • Middle FVG : Enter at the middle price of the FVG

       • Middle FVG : Enter at the beginning price of the FVG 

       • On MSS price within FVG Candle High and Low: This will set price to enter on a confluence of FVG candle and the MSS price. The MSS/BOS must be between the FVG Candle high and low.

       • On MSS price within FVG High and Low: This will set price to enter on a confluence of FVG and the MSS price or more known as Breaker Block. The MSS/BOS must be between the FVG high and low.

• Apply Price Shift to Entries: To consider some high-spread markets, or if you want to have a more aggressive entry you can shift the entries from the FVG. This is true also if you want to shift the entry away but put a negative value in "Shift value in PIP"

  • 1. • Shift value in pip: Distance in PIP to consider to shift price from FVG when this option is activated

• Use Current Timeframe Market Structure: MS stands for Market Structure Shift, if set to true, on the current time frame, the EA will start to track the BOS "Break of Structure" and MSS "Market Structure Shift". And will only take buy trades if the structure is bullish and sell trades if the structure is bearish. 

  • 1. • MS Depth : This is used for the ZigZag indicator that is implemented to analyze market structure, and it also has an impact on where to set the SL if the option Swing High/Low is used

       • MSS + BOS confirmation:  If this is set to true, trades will only start after a BOS confirmation

       • Don't Trade Over Extension: After a specific count break of structure count, the trend may weaken, and this option will help to prevent the EA from taking trades on top of the trend.

       • Over Extension Break Count: Defines the structure break count before declaring overextension.

• Use Higher Timeframe Market Structure: It stands for Higher Timeframe Market Structure. The EA can track the BOS "Break Of Structure"  and MSS "Market Structure Shift", based on the timeframe specified in "HT MS Timeframe" to trade as follows:

  • 1. • 1. • Don't use filter: The structure on a higher timeframe is ignored, and any trade can be taken

            • Trade with the trend: Trades will be taken only in the direction of the higher timeframe market structure. This is an excellent option for swing trades or when trading after NY open

            • Trade Counter trend: Trades taken will be counter the trend of the higher timeframe market structure. This is an option to choose if, for example, you are trading pre-London or London session.

       • HT MS Timeframe: It specifies the time frame used for the higher timeframe market structure. 

       • HT MS Depth: This is used for the ZigZag indicator that is implemented to analyze higher timeframe market structure.

       • Don't Trade Over Extension: After a specific count break of structure count, the trend may weaken, and this option will help to prevent the EA from taking trades on top of the trend.

       • Over Extension Break Count: Defines the structure break count before declaring overextension.

• Use Trend Filter : Based on an SMA, it has three options are available as follows 

  • Don't use filter: No filter based on a higher timeframe is applied - any trade can be taken

  • Trade with the trend: Trades will be taken only in the direction of the higher timeframe. This is an excellent option for swing trades or when trading after NY open

  • Trade Counter trend: Trades will be taken counter the trend of the higher timeframe. This is an option to choose if, for example, you are trading pre-London or London session.

• Trend Timeframe : The higher timeframe to get bias from

• Trend Loopback : The number of candles to look at and confirm the current trend

FVG Settings

• Minimum size in pip of FVG to Consider: This option helps define a minimum size of an FVG to consider. For example, not to consider a FVG with less than one PIP. 0 is the default value, and it means to consider all FVG.

• FVG Maximum size in pip (0->not used): This option helps define a the maximum size of an FVG to consider. If kept to zero no filter on the max size will be applied.

• Use 3 candles in a row FVG: Only consider FVG that are created by three bullish or bearish candles in a row

• Ignore the first X FVG: It allows the capacity to ignore X first Candles in a kill zone. For example, the kill zone starts at 17h, and if FVG appears at 17h, you don't want to trade it so you can set htis parameter to 1.

Position Exit Settings

• Close positions at a certain time: If true, the EA will close all sell or buy trades at the defined close position time

• Hour to Close Positions (0-23):  Closing Hour of all open positions

• Minute to Close Positions (0-59):  Closing Minute of all open positions

• Close Opposite position on opposite structure break: If set to true, all buy trades will be closed after the X bearish break of structure occur, and the same for sell positions

• Number of Breaks before closure: The number of MSS + BOS before considering closing the positions

• Close Opposite position on HT MSS: If set to true, all buy trades will be closed if bearish HT MSS occurs, and the same for sell positions

Order Exit Settings

• Delete Orders at a certain time:  If true, the EA will delete all pending orders at the defined delete orders time

• Hour to Delete Orders (0-23):  Deleting Hour of all open orders

• Minute to Close Orders (0-59):  Deleting Minute of all open orders

• Delete Opposite Order on MSS: If set to true, all buy pending orders will be deleted if bearish MSS occurs, and the same for sell pending orders

• Delete Opposite Order on HT MSS: If set to true, all buy orders will be deleted after the X bearish break of structure occur, and the same for sell positions

• Number of Breaks before closure: The number of MSS + BOS before considering closing the positions

• Cancel Order if: This is a new option introduced in v1.98. It allows you to cancel an order if

  • If Price is far of X Pips

  • If Price reaches TP of the order

  • If Price reaches X RR from order price

• X Pip/RR: is the value of PIP or multiple RR that you want to cancel the order on

Volume

• Volume type: Three options are available

  • Fixed: Choose to trade with a fixed lot size

  • Risk From Balance: Choose to risk a percentage of your balance. Please make sure you have defined a SL to be able to use this option

  • Risk From Equity:  Choose to risk a percentage of your equity. Please make sure you have defined a SL to be able to use this option

  • Risk From Free Margin:  Choose to risk a percentage of your Free Margin. Please make sure you have defined a SL to be able to use this option

  • Risk in Money: You can choose to risk a certain percentage of Money from your account, and the EA will calculate accordingly the SL

• Volume value or Percentage value: This value will correspond to the fixed lot size or the percentage when choosing a dynamic lot size.

• Reduce Lot size in case no Money (0->not used) : In case no enough money to open a position, you can reduce the lot size via a percentage. For example, based on your settings, the EA tries to open 1 lot. However, you do not have money to cover this trade; if this parameter is set to 25, the EA will attempt to open a trade with only 0.25 lots. 

• For security max volume per trade (0->not used): This is a pure security feature; set it to zero to disable it; the idea of this feature is to limit the order size taken by the EA.

Stop Loss

• SL Type: Choose your SL type to match your strategy. Four options are available

  • No SL: Trade with no stop loss, which I do not recommend. A SL is always a tool to prevent significant losses.

  • Candle Extremity: Set your SL at the extremity of the entry FVG candle

  • Swing High/Low: Set your SL on the nearest Swing High/Low - the structure depth used is configured in "Market Structure Depth"

  • Fixed in PIP: Set your SL in fixed pip value

  • ATR Based SL: Set youe SL based on ATR value, this will allow you to have dynamic postion SL based on current volatility.

• SL in points value: this parameter will help you define the distance of your SL if you have chosen to trade with the "Fixed in PIP" option

• Shift SL in pip: This is applied for the first two options, "FVG Candle Extremity" or "Swing High/Low" for you to move the SL a little bit up or down

• "X" Candle back (2 is the FVG Candle): You can choose on which candle back to put your SL, where value 2 means the FVG candle. When choosing the low or high candle as SL, it automatically takes the high/low of the candle ranges. For example you decide to put SL for a sell on the high of candle 5, but candle 3 has a higher high, the SL goes on the high to candle 3

• ATR Multiplier: set to 1, your SL will be 1 ATR far from entry price, set to 3, your SL will be 3xATR far from entry price

• ATR Timeframe: Choose from which timeframe you are reading the ATR

• ATR Period: Choose your ATR Period

• SL Filter: Allowing you even to ignore a trade if SL is higher than a maximum value you decide on or less than a minimum value, this will help you skip large SL, or Small SL. You can also choose to add the SL to the minimum or maximum value. This option is only active when using swing high/low as SL, or candle extremity.

• Min Sl : Minimum SL to respect

• Max Sl : Maximum SL to respect

Take Profit

• TP Type: You have three options to define how to set your take profit

  • No TP: Don't use a TP. This is usually true when you have a trailing stop mechanism in place.

  • "X" Risk to Reward: Define your take profit in risk to reward ratio. So if your SL is 100 PIP, and your Risk to Reward is 3.5, this means your take profit will be at 350 PIPs from your entry

  • Fixed to "X" PIP: Choose to trade with a fixed distance for the take profit

• TP "X" Value: X value corresponds either to the Risk to Reward or the fixed distance in PIP

Break Even

• Breakeven Trigger Type: You have three options to define how to set the trigger level of your break-even 

  • No BE: Don't use a BE.

  • After "X" Risk to Reward: Define your trigger in risk to reward ratio. So if your SL is 100 PIP, and your Risk to Reward is 2.6, this means you will trigger your break even at 260 PIPs from your entry

  • After "X" PIP: Choose to trigger your break even on a fixed distance

• Break Even Trigger "X" Value: X value corresponds either to the Risk to Reward or the fixed distance in PIP

• Buffer to cover commission in pip: Usually, breakeven will move the SL to the entry. Adding a buffer can help you cover your commissions, too.

Partial Take Profit

• TP1:

  • No BE: Don't use a Partial Take Profit 1.

  • After "X" Risk to Reward: Define your trigger in risk to reward ratio. So if your SL is 100 PIP, and your Risk to Reward is 2.6, this means you will trigger your TP1 at 260 PIPs from your entry

  • After "X" PIP: Choose to trigger your TP1 on a fixed distance

• TP1 Trigger "X" Value:  X value corresponds either to the Risk to Reward or the fixed distance in PIP

• TP1 Percentage from Running trade: this defines how much you need to take from a trade. So, for example, your trade is one lot, you configured this parameter to 50, and when TP1 is triggered, 0.5 of your trade is closed

• TP2:

  • No BE: Don't use a Partial Take Profit 2.

  • After "X" Risk to Reward: Define your trigger in risk to reward ratio. So if your SL is 100 PIP, and your Risk to Reward is 5.2, this means you will trigger your TP2 at 520 PIPs from your entry

  • After "X" PIP: Choose to trigger your TP1 on a fixed distance

• TP1 Trigger "X" Value:  X value corresponds either to the Risk to Reward or the fixed distance in PIP

• TP1 Percentage from Running trade: this defines how much you need to take from a trade. So, for example, your trade is one lot, you configured this parameter to 75, and when TP1 is triggered, 0.75 of your trade is closed

Trailing Stop Loss

• Trail Stop Type: You have three options to choose from. The SL can have a configured distance to be triggered from

  • No Trailing Stop: No trailing stop will be applied

  • Standard Trailing Stop: Standard trailing stop where the SL will move with each new tick whenever the price is doing a new high/low, keeping a constant distance when the price is moving in the trade favor. Once the TSL level is triggered, the SL will move upward.

  • Step Trailing Stop: This trailing stop uses the same technique as the standard one. However, it will move the SL only by steps.   The first move in this type of trailing stop is to move the SL to BE or higher.

  • Candle Trailing Stop: If this option is used, then the step is defined by a candle range. The step for a buy position will be on the lowest of the last 10 candles as an example.

• Trigger Type

  • After "X" PIP: This will allow you to define when to start trailing stop in PIP

  • After "X" time the risk: This will allow you to start trailing stop is a ratio of the risk you have in your trade. For example, if SL is 50 PIPS, and this parameter is 2, then when the trade is in profit on 100 PIP, the trailing stop will be triggered.

• Trigger "X" Value: the Value for TSL trigger

• Distance/Step Type

  • as "Y" PIP: This will allow you to define the step or distance in PIP

  • as "Y" time the risk:   This will allow you to define the step or distance in using R from the risk. So as example, your risk is 50 pips, if you choose Y = 0.5, this means yous step will be 25 pips.

  • as "Y" candles: This will specify the range of candles to trail the stop loss. For example, if set to 15 for a buy position, it will trail the stop loss on the low of the last 15 candles. 

• Distance/Step "Y" Value:  the Value for the distance or step for TSL

Day Filter

• Use Day Control: Enable day filtering to prevent the EA of trading certain weekdays.

• Trade Monday? : True/False

• Trade Tuesday?  : True/False

• Trade Wednesday?  : True/False

• Trade Thursday?  : True/False

• Trade Friday?  : True/False

• Trade Saturday?  : True/False

• Trade Sunday?  : True/False

News Filter

• Avoid News: Choose to avoid trading during the news. This implies posting new positions or orders and also taking control of current open positions or orders

• Currencies (USD,EUR,...) : Choose the impacted currencies like  "USD,EUR,AUD,NZD,JPY,CAD,GBP", or  "USD,EUR"

• Specific news (Holiday, CPI,...): You can add the news you want to filter out in this section, make sure you respect how they are written in investing.com. Example, PMI related news can be as follow "ISM Manufacturing PMI", you can put the entire title or simple PMI. Pay attention putting "Manuf" as example will always catch this news. 

• Don't trade all day on specific news: True/False, if true the day with news is skipped

• Consider high-impact events: True/False, all high impact news from investing.com are watched and filtered out

• Stop trading before news in minutes: Decide when to stop taking new trades before news

• Start trading after news in minutes:  Decide when to start taking new trades after news

• Take action before news: True/False

• Action before X minutes: Decide when to start taking actions before news

• Action on Open Trades

  • Keep current trades running: All running trades will remain open, and the EA will manage them during the news.

  • Close all trades: All running trades will be closed 

  • Close only winning trades: On each new candle during the news window, any winning trade will be closed. All losing trades will be held till they become winners or hit SL. 

  • Set Trade to Break Even: On each new candle during the news window, any trade that still doesn't have BE in place will be checked and if possible, BE will be set (losing trades are not candidates to BE)

• Delete all orders: If true, all orders will be deleted. 

IMPORTANT: if you are using news, don't forget to allow web requests to the following URL: https://sslecal2.investing.com/

Check the image that follows for an example.

How to back test News?

The EA now supports back testing of news-driven strategies by replaying a historical news feed from your own Backtest.csv file. 

To enable this feature, simply place Backtest.csv into MetaTrader 5’s common files folder before launching your backtests. In MetaTrader 5, go to File → Open Data Folder.

• In the Explorer window that opens (e.g. …\AppData\Roaming\MetaQuotes\Terminal\<InstanceID>\MQL5\Files), 

• Click the “Up” button or navigate back to the Terminal folder.

• Open the common files subfolder (full path example: C:\Users\<YourUser>\AppData\Roaming\MetaQuotes\Terminal\Common\Files).

• Copy Backtest.csv into that Common folder.

• Restart the Strategy Tester (or reload the EA) so it picks up the new news feed.

Please note that the CSV is update every end of month, and contains data from 2020 and forward.

Daily DrawDown and Profit

• Use DD and Profit Limiter: This will allow you to activate the daily profit limitation or drawdown, which is useful for prop firm challenges! Once the threshold is reached, FVG EA PRO will not create any new orders and will close all active ones. The reference will always be reset on a fresh day start. Pay attention, when first launching or on change of parameters, the EA will take into consideration the current balance or equity as reference.

• Consider the entire Account: The drawn down and profit calculation can be limited to the trades created by the FVG EA PRO or to consider all the trades on your account.

• Daily Drawdown Calculation Options: Several options are available to use as a reference for the draw-down

  • From "Initial Deposit": Make sure to fill in the amount in "Initial Deposit Or Risk In Money"

  • From "Account Balance" 

  • From "Account Equity"

  • From "Higher Equity or Balance"

  • From "Risk In Money":  Make sure to fill in the amount in "Initial Deposit Or Risk In Money"

• DD Initial Deposit Or Risk In Money

• Max Daily DD % : From the reference chosen

• Daily Profit Calculation Options:  Several options are available to use as a reference for the draw-down

  • From "Initial Deposit":  Make sure to fill in the amount in "Initial Deposit Or Risk In Money"

  • From "Account Balance"

  • From "Account Equity"

  • From "Higher Equity or Balance"

  • From "Risk In Money":  Make sure to fill in the amount in "Initial Deposit Or Risk In Money"

• Profit Initial Deposit Or Risk In Money

• Max Daily Profit % :  From the reference chosen

• Refresh Period in Seconds: Check period when the EA will check the drawdown or profit target