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FAQ - Elite Tactics EA
There are more set files provided for particluar pair just because people request to have more set files. So I provide more set files. All of them are slightly different and providing more sets is good for diversification. So the best advice is to run your own backtest on all pairs and choose the one which fits you the best.
There might be several reason for this:
1.) Make sure that if you have opened more charts with EA (even different EAs) every chart MUST have UNIQUE Magic number! There can not be more charts using same Magic number.
2.) Make sure you are using low spread account. Elite Tactics has by defaut enabled spread protection. The spread protection is set by “MaxSpread” parameter in points. If the average spread by past several ticks on your account exceeds the MaxSpread the EA will delete pending orders. If you are using hgh spread account (usually commission is a part of the spread) then the situation when spread exceeds MaxSpread can be almost anytime and then the EA will be deleting the orders all the time. You can also disable spread protection by changing parameter “UseSpreadProtection” to “false”, but keep in mind that for high spread accounts the performance if the EA will be worse.
This EA is not limited by trading account but the performance might be completely different. True ECN accounts usually provide very lowe spread because you pay for every trade commission. Having low spread is very importan for proper funtion of breakeven and trailing stop function in this EA. If you are using some high spread accounts, then the performance of the Breakeven function might be decreased.
Make sure you have enough margin to open new orders. Especially if you use automatic lot size calculation and select very high risk (> 15 %), then your account might not have sufficient margin if you are using more charts and more trading pairs with such a risk.
You can also check “Expert” tab in your Metatrader terminal after you place EA to the chart. If some error or warning appears it is usually written in the “Expert” tab log.
This vary from week to week. Make a note that this is not a 1 minute scaper but EA has to findsuitable levels and then price has to reach that levels. Sometimes it trades few times a day and sometimes there is not trade for a week. You can actually get overview about trades frequency when you run a backtest or when you look to the live signal posted on my MQL profile among published signals.
No, because on many VPS (Including MQL) itis not able to synchronize real-time. So I can provide only live signals trough MQL signal service. You can find signals on MQL profile.
You can actually start with as low as 50 USD if trading single pair and 0.01 lot woth high leverage, but to be honest the cost of the EA and VPS will probably never be paid back.
Automatic lot size is calculated based on your account balance, StopLoss and selected “RiskInPercentOfBalance”. So when you have bigger account balance and tighter stoploss, the lot size will be higher. The automatic lot size is calculated the way that if loosing trade happens, you will loose cca X % of account balance, where X is parameter selected by “RiskInPercentOfBalance”.
Please make note that this calculation might not be precise espetially with the variety of brokers, etc. So ALWAYS verify your setting with proper backtest.
Elite Tactics does not have any limitations about maximum lot size or type of broker, so mximum lot size is actually detemined by your broker. But keep in mind that this is a scapling EA and trading such a high lot sizes is not recommended due to increased chance to have slippage which can decrease the performance of the EA.
More information about slippage can be found in this article: Delay and Slippage
This is standard behavior by default settings. Orders are being closed around midnight GMT+2, to ensure that there will be no trading operation. Market is temporarly closed for short period around midnight, price is very calm and spread is usally high and in this period the EA wouldn’t work very well. If you insist on trading during around midnight you can delete all values in “AvoidTradingHours” and leave it empty.
Make sure that each chart and each trading window has UNIQUE MAGIC number. There can not be more charts using same magic number.
If there are more charts using same magic number the trades will fight with each other and it will possibly fail.
Yes, all 747Developments products can work with other EAs. Only thing you have to keep in mind is to put UNIQUE Magic number to each chart.
The EA does not have any limitation of time-frame. But it wasn’t desiged for such a low time-frames. The EA will most probably generate loss. This EA was designed for H1 timeframe on EURUSD.
Nobody can tell even with crystall ball. You can get some idea if you run the backtest and analyse it, or if you check the signal of the EA. But nobody can predict the future and anything can happen.
Also please make a note that this EA is designed for high rate of profitable trades, but as you can see in strategy tester report the loosing trade when it occurs has to be compensated with several win trades because average win is smaller than average loss.
Yes it can, there is no limitation about leverage. But generally if you have lower leverage you must use lower risk, because then you might face the issue of insufficient margin to open new orders. So always verify with the strategy tester with you brokers settings.
No there isn’t. Both version use the same algorithm.
The difference is just in Metatrader terminal. MT5 is much better for doing own optimizations and strategy tests, becaue Metatrader 5 can use all CPU cores so it is faster, it provides more detailed analysis and if you are using good broker then also past tick data quality is much better than any Metatrader 4 can achieve.
This is not a 1 minute scalper so there is a possibility that this day was not any computed level reached
If you study the back-test you will see that it does not trade every day
Verify that Algo Trading is enabled in your PC/VPS Metatrader Terminal (ONLY If using MQL VPS – Algo Trading must be disabled in your Metatrader Terminal)
You should use the GMT of your broker’s time. For example ICMarkets operates at GMT +2 (winter time) and GMT +3 (summer time). You can keep +2 whole year, because it won’t make so much difference. The GMT adjustment has affect on orders closing during GMT +2 midnight (market is usually calm, temporarly closed for few minutes and there is usually big spread). Also this EA has automatic GMT check if you enable Panel and you have wrong GMT, your GMT number will change color to RED.