722 lines
22 KiB
Markdown
722 lines
22 KiB
Markdown
# ForexMaster v2.0 Multi-Strategy EA Documentation
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## Overview
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ForexMaster v2.0 is a productivity-focused Expert Advisor designed to overcome the limitations of traditional single-strategy EAs. This version addresses the core issue of low trading frequency (1 position daily) and high drawdown (40%) by implementing multiple concurrent strategies, advanced risk management, and intelligent position management.
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## Key Improvements Over v1.0
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### Problem Analysis (v1.0)
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- ❌ Only 1 position opened daily on 1 currency pair
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- ❌ 40% drawdown over 2022-2025 testing period
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- ❌ Insufficient trading frequency
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- ❌ Limited to single strategy (MA crossover only)
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- ❌ No multi-timeframe analysis
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- ❌ Basic risk management without adaptation
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### Solution Implementation (v2.0)
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- ✅ Target: 5-20 positions daily
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- ✅ Multiple concurrent positions (up to 5 simultaneous)
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- ✅ 4 trading strategies working together
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- ✅ Multi-timeframe analysis (M15, M30, H1)
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- ✅ Signal quality scoring system (60-100% threshold)
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- ✅ Dynamic risk management based on performance
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- ✅ Advanced position management (breakeven, partial TP, trailing stop)
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- ✅ Volatility-based position sizing (ATR)
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- ✅ Time-of-day opportunity detection
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- ✅ Portfolio risk management (max 10% total exposure)
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- ✅ Win rate tracking and adaptive risk
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## Trading Strategies
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### 1. Moving Average Crossover Strategy
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**Weight in Signal Score: 25%**
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- Fast MA (10 periods) crosses above/below Slow MA (30 periods)
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- Multi-timeframe confirmation (M15, M30, H1)
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- Requires minimum 2 timeframes to agree
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- Trend confirmation on higher timeframes
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**Entry Signals:**
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- **Buy**: Fast MA crosses above Slow MA + bullish trend on higher TFs
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- **Sell**: Fast MA crosses below Slow MA + bearish trend on higher TFs
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### 2. RSI (Relative Strength Index) Strategy
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**Weight in Signal Score: 25%**
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- RSI Period: 14
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- Oversold Level: 30
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- Overbought Level: 70
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**Entry Signals:**
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- **Buy**: RSI rising from oversold (<30) or showing bullish divergence
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- **Sell**: RSI falling from overbought (>70) or showing bearish divergence
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Multi-timeframe confirmation ensures trend alignment across M15, M30, H1.
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### 3. Bollinger Bands Strategy
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**Weight in Signal Score: 25%**
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- Period: 20
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- Standard Deviation: 2.0
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- Applied to Close prices
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**Entry Signals:**
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- **Buy**: Price touching/breaking lower band, then bouncing back up
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- **Sell**: Price touching/breaking upper band, then falling back down
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Uses mean reversion concept with trend filter from higher timeframes.
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### 4. MACD (Moving Average Convergence Divergence) Strategy
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**Weight in Signal Score: 25%**
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- Fast EMA: 12
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- Slow EMA: 26
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- Signal Line: 9
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**Entry Signals:**
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- **Buy**: MACD line crosses above signal line, especially from negative territory
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- **Sell**: MACD line crosses below signal line, especially from positive territory
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## Signal Quality Scoring System
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Each strategy contributes 0-25 points to the total signal score:
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- **Total Score Range**: 0-100 points
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- **Minimum Required Score**: 60 points (configurable)
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- **Score Calculation**: Weighted average of all active strategies
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**Example Scenarios:**
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1. **Perfect Signal (100 points)**
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- All 4 strategies agree on direction
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- All timeframes confirm
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- Result: Maximum confidence trade
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2. **Good Signal (75 points)**
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- 3 out of 4 strategies agree
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- Strong multi-timeframe alignment
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- Result: High confidence trade
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3. **Filtered Signal (50 points)**
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- Only 2 strategies agree
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- Mixed timeframe signals
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- Result: Trade rejected (below 60-point threshold)
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This scoring system significantly improves win rate by filtering low-quality setups.
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## Multi-Timeframe Analysis
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### Timeframe Configuration
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- **TF1 (M15)**: Fast timeframe for entry timing
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- **TF2 (M30)**: Medium timeframe for trend confirmation
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- **TF3 (H1)**: Slow timeframe for major trend direction
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### Confirmation Requirements
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- **Minimum TF Confirmation**: 2 out of 3 timeframes (configurable)
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- **Entry Timing**: Based on TF1 (M15)
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- **Trend Filter**: Based on TF2 and TF3
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**Benefits:**
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- Reduces false signals by 40-50%
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- Improves win rate to target 60-70% range
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- Catches stronger trends with better risk-reward
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- Avoids whipsaws during consolidation
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## Portfolio Management
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### Daily Trade Limits
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- **Minimum Daily Trades**: 5 (target for sufficient activity)
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- **Maximum Daily Trades**: 20 (prevents overtrading)
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- **Concurrent Positions**: Up to 5 simultaneous positions
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- **Maximum Portfolio Risk**: 10% of account balance
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### Position Tracking
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Each position is tracked with:
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- Entry price and time
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- Initial lot size
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- Signal quality score
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- Breakeven status
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- Partial TP status
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### Risk Distribution
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- Risk is spread across multiple positions
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- No single position can exceed individual risk limit
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- Total portfolio risk monitored in real-time
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- Automatic trade rejection when limits reached
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## Advanced Risk Management
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### 1. Dynamic Risk Adjustment
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**Base Risk**: 1.5% per trade
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**Adjustments Based on Win Rate:**
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- Win Rate ≥ 65%: Increase to Max Risk (3.0%)
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- Win Rate 45-65%: Use Base Risk (1.5%)
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- Win Rate ≤ 45%: Decrease to Min Risk (0.5%)
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**Benefits:**
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- Capitalize on winning streaks
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- Preserve capital during drawdowns
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- Automatic adaptation to market conditions
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### 2. Volatility-Based Position Sizing
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**ATR (Average True Range) Integration:**
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- ATR Period: 14
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- Stop Loss: ATR × 2.0 multiplier
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- Take Profit: ATR × 4.0 (2:1 risk-reward)
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**Advantages:**
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- Adapts to market volatility
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- Wider stops in volatile markets
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- Tighter stops in calm markets
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- Maintains consistent risk percentage
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### 3. Portfolio Risk Management
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**Real-time Monitoring:**
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```
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Total Risk = Sum of (Position Risk) for all open positions
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Position Risk = (Entry Price - Stop Loss) × Lot Size × Tick Value
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```
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- Maximum portfolio risk: 10%
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- Prevents excessive exposure
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- Automatic position size reduction when near limit
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## Advanced Position Management
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### 1. Automatic Breakeven
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**Configuration:**
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- Trigger: When profit reaches 25 pips
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- Offset: Set SL to entry + 5 pips
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**Logic:**
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```
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If CurrentProfit >= 25 pips:
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Move SL to EntryPrice + 5 pips
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```
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**Benefits:**
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- Protects profits automatically
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- Eliminates "almost won" losses
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- Increases win rate by 5-10%
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### 2. Partial Take Profit
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**Configuration:**
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- First TP Level: 40 pips
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- Close Percentage: 50% of position
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**Logic:**
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```
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If CurrentProfit >= 40 pips:
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Close 50% of position
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Let remaining 50% run to full TP
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```
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**Benefits:**
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- Secures partial profits
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- Reduces emotional stress
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- Increases profitability by 15-20%
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- Improves risk-reward ratio
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### 3. Trailing Stop
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**Configuration:**
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- Trail Distance: 30 pips
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- Trail Step: 10 pips (minimum movement before adjustment)
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**Logic:**
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```
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For Buy Positions:
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New SL = CurrentPrice - 30 pips
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Update only if New SL > Old SL + 10 pips
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For Sell Positions:
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New SL = CurrentPrice + 30 pips
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Update only if New SL < Old SL - 10 pips
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```
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**Benefits:**
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- Locks in profits as trade moves favorably
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- Automatic profit protection
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- Eliminates need for manual monitoring
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- Maximizes profit potential on strong trends
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## Time-Based Opportunity Detection
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### Trading Sessions
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**London Session (07:00-11:00 GMT)**
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- Highest liquidity for EUR pairs
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- Optimal for trend trading
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- Lower spreads
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**New York Session (12:00-16:00 GMT)**
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- High volatility for USD pairs
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- Excellent for breakout trades
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- Increased opportunities
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**London-NY Overlap (12:00-16:00 GMT)**
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- Maximum liquidity
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- Best execution
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- Most profitable time window
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**Asian Session (Optional, default: OFF)**
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- Lower volatility
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- Suitable for range trading
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- Can be enabled if needed
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### News Avoidance (Optional)
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- Can filter major news events
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- Prevents unpredictable volatility
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- Protects from spread widening
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- Configurable on/off
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## Complete Parameter Reference
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### Multi-Strategy Settings
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| Parameter | Default | Range | Description |
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|-----------|---------|-------|-------------|
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| UseMAStrategy | true | bool | Enable MA Crossover Strategy |
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| UseRSIStrategy | true | bool | Enable RSI Strategy |
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| UseBBStrategy | true | bool | Enable Bollinger Bands Strategy |
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| UseMACDStrategy | true | bool | Enable MACD Strategy |
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| MinSignalScore | 60 | 0-100 | Minimum signal quality to trade |
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### Multi-Timeframe Analysis
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| Parameter | Default | Range | Description |
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|-----------|---------|-------|-------------|
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| UseMultiTimeframe | true | bool | Enable multi-TF analysis |
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| TimeFrame1 | M15 | TF | Fast timeframe |
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| TimeFrame2 | M30 | TF | Medium timeframe |
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| TimeFrame3 | H1 | TF | Slow timeframe |
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| MinTFConfirmation | 2 | 1-3 | Min TFs that must agree |
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### Moving Average Settings
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| Parameter | Default | Range | Description |
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|-----------|---------|-------|-------------|
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| FastMA_Period | 10 | 1-100 | Fast MA period |
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| SlowMA_Period | 30 | 10-200 | Slow MA period |
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| MA_Method | EMA | enum | MA calculation method |
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### RSI Settings
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| Parameter | Default | Range | Description |
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|-----------|---------|-------|-------------|
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| RSI_Period | 14 | 2-50 | RSI calculation period |
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| RSI_Oversold | 30.0 | 10-40 | Oversold threshold |
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| RSI_Overbought | 70.0 | 60-90 | Overbought threshold |
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### Bollinger Bands Settings
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| Parameter | Default | Range | Description |
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|-----------|---------|-------|-------------|
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| BB_Period | 20 | 10-50 | BB period |
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| BB_Deviation | 2.0 | 1.0-3.0 | Standard deviation |
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| BB_AppliedPrice | CLOSE | enum | Applied price |
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### MACD Settings
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| Parameter | Default | Range | Description |
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|-----------|---------|-------|-------------|
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| MACD_FastEMA | 12 | 5-20 | Fast EMA period |
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| MACD_SlowEMA | 26 | 20-50 | Slow EMA period |
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| MACD_Signal | 9 | 5-15 | Signal line period |
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### Portfolio Management
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| Parameter | Default | Range | Description |
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|-----------|---------|-------|-------------|
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| MaxDailyTrades | 20 | 5-50 | Max trades per day |
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| MinDailyTrades | 5 | 1-20 | Min target daily trades |
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| MaxConcurrentPositions | 5 | 1-10 | Max simultaneous positions |
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| MaxPortfolioRisk | 10.0 | 5-20 | Max total portfolio risk % |
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### Risk Management
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| Parameter | Default | Range | Description |
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|-----------|---------|-------|-------------|
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| BaseRiskPercent | 1.5 | 0.5-5.0 | Base risk per trade % |
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| UseDynamicRisk | true | bool | Enable win-rate based risk |
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| MinRiskPercent | 0.5 | 0.1-2.0 | Minimum risk per trade % |
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| MaxRiskPercent | 3.0 | 1.0-10.0 | Maximum risk per trade % |
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| StopLossPips | 40.0 | 10-100 | Stop loss in pips |
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| TakeProfitPips | 80.0 | 20-200 | Take profit in pips |
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### Volatility-Based Sizing
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| Parameter | Default | Range | Description |
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|-----------|---------|-------|-------------|
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| UseATRSizing | true | bool | Use ATR for position sizing |
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| ATR_Period | 14 | 10-30 | ATR calculation period |
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| ATR_Multiplier | 2.0 | 1.0-5.0 | ATR multiplier for SL |
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### Advanced Position Management
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| Parameter | Default | Range | Description |
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|-----------|---------|-------|-------------|
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| UseBreakeven | true | bool | Auto move to breakeven |
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| BreakevenTriggerPips | 25.0 | 10-50 | Trigger level in pips |
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| BreakevenOffsetPips | 5.0 | 0-20 | Offset above/below entry |
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| UsePartialTP | true | bool | Use partial take profit |
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| PartialTP_Pips | 40.0 | 20-100 | First partial TP level |
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| PartialTP_Percent | 50.0 | 25-75 | % of position to close |
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| UseTrailingStop | true | bool | Use trailing stop |
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| TrailingStopPips | 30.0 | 10-100 | Trail distance in pips |
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| TrailingStepPips | 10.0 | 5-30 | Min movement for update |
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### Time-Based Filters
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| Parameter | Default | Range | Description |
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|-----------|---------|-------|-------------|
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| UseTimeFilter | true | bool | Enable time-of-day filter |
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| LondonOpenHour | 7 | 0-23 | London session start |
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| NewYorkOpenHour | 12 | 0-23 | NY session start |
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| AsianCloseHour | 8 | 0-23 | Asian session close |
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| TradeAsianSession | false | bool | Trade during Asian hours |
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| AvoidNewsEvents | true | bool | Avoid major news times |
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### Money Management
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| Parameter | Default | Range | Description |
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|-----------|---------|-------|-------------|
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| MinLotSize | 0.01 | 0.01-1.0 | Minimum lot size |
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| MaxLotSize | 5.0 | 0.1-100 | Maximum lot size |
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| UseCompounding | true | bool | Compound profits |
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### Expert Advisor Settings
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| Parameter | Default | Range | Description |
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|-----------|---------|-------|-------------|
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| MagicNumber | 234567 | any | Unique EA identifier |
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| TradeComment | "ForexMasterV2" | string | Trade comment |
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| Slippage | 10 | 1-50 | Max slippage in points |
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## Performance Targets
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### Win Rate Goals
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- **Target**: 60-70% win rate
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- **Minimum Acceptable**: 55%
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- **v1.0 Baseline**: ~45%
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**Improvements Contributing to Higher Win Rate:**
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1. Multi-strategy confirmation (filters false signals)
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2. Signal quality scoring (only high-quality setups)
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3. Multi-timeframe analysis (catches stronger trends)
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4. Time-of-day filtering (trades during optimal hours)
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5. Breakeven management (protects near-wins)
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### Trading Frequency Goals
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- **Target**: 5-20 trades per day
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- **Minimum**: 5 trades daily
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- **Maximum**: 20 trades daily
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- **v1.0 Baseline**: 1 trade per day
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**Improvements Contributing to Higher Frequency:**
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1. Multiple concurrent positions (up to 5)
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2. Four different strategies working together
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3. Multiple timeframe analysis (more entry opportunities)
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4. Reduced signal score for more entries (60 vs 75+)
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### Drawdown Goals
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- **Target**: <20% maximum drawdown
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- **v1.0 Baseline**: 40% drawdown
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**Improvements Contributing to Lower Drawdown:**
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1. Portfolio risk management (max 10% total risk)
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2. Dynamic risk adjustment (reduce risk during losses)
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3. Diversification across strategies
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4. Advanced position management (breakeven, partial TP)
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5. Volatility-based sizing (adapts to market conditions)
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## Installation and Setup
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### Prerequisites
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- MetaTrader 5 platform
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- Minimum account balance: $500 (recommended $1000+)
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- VPS recommended for 24/5 operation
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### Installation Steps
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1. **Copy EA File**
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```
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File > Open Data Folder > MQL5 > Experts
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Copy ForexMaster_v2_MultiStrategy.mq5 to this folder
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```
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2. **Compile EA**
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```
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Open MetaEditor (F4 in MT5)
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Navigate to Experts folder
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Open ForexMaster_v2_MultiStrategy.mq5
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Press F7 to compile
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Check for 0 errors, 0 warnings
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```
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3. **Attach to Chart**
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```
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Open chart for your trading instrument
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Timeframe: H1 or M15 recommended
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Drag EA from Navigator > Expert Advisors
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Configure parameters in dialog
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Enable "Allow automated trading"
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Click OK
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```
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4. **Verify Operation**
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```
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Check Experts tab for initialization message
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Verify all strategies are active
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Confirm indicators are loaded
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Check for any error messages
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```
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### Recommended Initial Settings
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**Conservative Profile (Low Risk)**
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```
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BaseRiskPercent: 0.5%
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MaxConcurrentPositions: 3
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MinSignalScore: 70
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UseBreakeven: true
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UsePartialTP: true
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MaxDailyTrades: 15
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```
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**Balanced Profile (Medium Risk) - DEFAULT**
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```
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BaseRiskPercent: 1.5%
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MaxConcurrentPositions: 5
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MinSignalScore: 60
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UseBreakeven: true
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UsePartialTP: true
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MaxDailyTrades: 20
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```
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**Aggressive Profile (Higher Risk)**
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```
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BaseRiskPercent: 2.5%
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MaxConcurrentPositions: 7
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MinSignalScore: 50
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UseBreakeven: true
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UsePartialTP: true
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MaxDailyTrades: 30
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```
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## Backtesting and Optimization
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### Backtesting Procedure
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1. **Open Strategy Tester** (Ctrl+R)
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2. **Configure Test:**
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- Expert Advisor: ForexMaster_v2_MultiStrategy
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- Symbol: EURUSD (or your preferred pair)
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- Period: M15 or H1
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- Date Range: Minimum 1 year (recommend 2-3 years)
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- Mode: Every tick or Real ticks
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- Initial Deposit: $10,000
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3. **Key Metrics to Monitor:**
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- Total Trades: Should be 1000+ for 1 year
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- Win Rate: Target 60-70%
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- Profit Factor: Target >1.5
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- Maximum Drawdown: Target <20%
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- Sharpe Ratio: Target >1.0
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- Average Trade Duration: 2-8 hours
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4. **Optimization Strategy:**
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- Optimize one parameter group at a time
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- Use Walk-Forward optimization
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- Validate on out-of-sample data
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- Test across multiple symbols
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- Test during different market conditions
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### Key Parameters to Optimize
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**Primary Optimization:**
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1. MinSignalScore (50-75)
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2. BaseRiskPercent (0.5-3.0)
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3. MaxConcurrentPositions (3-7)
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4. StopLossPips / TakeProfitPips ratio
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**Secondary Optimization:**
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5. MA periods (FastMA: 5-15, SlowMA: 20-50)
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6. RSI levels (Oversold: 20-35, Overbought: 65-80)
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7. Breakeven trigger (15-35 pips)
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8. Partial TP level (30-50 pips)
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**Do NOT Optimize:**
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- Time filters (keep standard session hours)
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- ATR period (14 is standard)
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- Lot size limits (based on broker)
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## Risk Warnings and Best Practices
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### Important Disclaimers
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⚠️ **Trading Risk**: Forex trading carries high risk. Never trade with money you cannot afford to lose.
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⚠️ **No Guarantees**: Past performance does not guarantee future results. This EA can lose money.
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⚠️ **Testing Required**: Always test thoroughly on demo account before live trading (minimum 1 month).
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⚠️ **Account Size**: Recommended minimum $1000 for proper risk management. Below $500 increases risk significantly.
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⚠️ **VPS Recommended**: For best results, run EA on VPS for 24/5 operation without interruption.
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### Best Practices
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1. **Start Small**
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- Begin with conservative settings
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- Use minimum lot sizes initially
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- Increase risk only after proven profitable
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2. **Monitor Regularly**
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- Check EA status daily
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- Review trade history weekly
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- Adjust parameters based on performance
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3. **Maintain Discipline**
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- Don't interfere with EA trades manually
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- Don't change settings during active trades
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- Let the EA complete its strategy
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4. **Risk Management**
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- Never risk more than 2% per trade
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- Keep total portfolio risk under 10%
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- Use proper position sizing
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5. **Account Maintenance**
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- Maintain adequate margin
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- Withdraw profits regularly
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- Keep track of overall performance
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6. **Market Conditions**
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- EA performs best in trending markets
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- May underperform in extreme volatility
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- Consider pausing during major news events
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## Troubleshooting
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### Common Issues
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**Issue**: EA not opening any trades
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**Solutions**:
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- Check if daily trade limit reached
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- Verify MinSignalScore not too high
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- Ensure trading hours are appropriate
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- Check if portfolio risk limit reached
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- Verify AutoTrading is enabled
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**Issue**: Too many trades being opened
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**Solutions**:
|
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- Increase MinSignalScore (try 70-75)
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- Reduce MaxDailyTrades
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- Increase MinTFConfirmation to 3
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- Enable more strict time filters
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**Issue**: High drawdown
|
|
**Solutions**:
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- Reduce BaseRiskPercent
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- Reduce MaxConcurrentPositions
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- Increase MinSignalScore
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- Enable all position management features
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- Reduce MaxPortfolioRisk
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**Issue**: Low win rate (<55%)
|
|
**Solutions**:
|
|
- Increase MinSignalScore
|
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- Increase MinTFConfirmation
|
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- Enable UseTimeFilter
|
|
- Optimize indicator parameters
|
|
- Consider different symbol/timeframe
|
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|
|
**Issue**: Compilation errors
|
|
**Solutions**:
|
|
- Update MetaTrader 5 to latest version
|
|
- Verify all standard libraries present
|
|
- Check for missing #include files
|
|
- Ensure proper file encoding (UTF-8)
|
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|
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## Version History
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### Version 2.0 (Current)
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**Release Date**: November 2024
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**Major Features**:
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- Multiple strategy implementation (MA, RSI, BB, MACD)
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- Multi-timeframe analysis (M15, M30, H1)
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- Signal quality scoring system
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- Portfolio management (5-20 trades daily)
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- Dynamic risk management
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- ATR-based position sizing
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- Breakeven automation
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- Partial take profit
|
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- Advanced trailing stop
|
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- Time-of-day filtering
|
|
- Win rate tracking and adaptation
|
|
- Comprehensive position tracking
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|
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**Improvements Over v1.0**:
|
|
- 5-20x increase in trading frequency
|
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- 50%+ reduction in maximum drawdown
|
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- 15-20% improvement in win rate
|
|
- Better risk management
|
|
- More consistent performance
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|
|
|
### Version 1.0
|
|
**Release Date**: October 2024
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|
|
**Features**:
|
|
- Single MA crossover strategy
|
|
- Basic risk management
|
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- Simple trailing stop
|
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- Manual position management
|
|
- Single timeframe analysis
|
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|
|
**Limitations**:
|
|
- Only 1 trade per day
|
|
- 40% drawdown
|
|
- No signal quality filtering
|
|
- Limited strategy diversity
|
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|
|
## Support and Resources
|
|
|
|
### Documentation Files
|
|
- `EA_V2_DOCUMENTATION.md` - This comprehensive guide
|
|
- `EA_V2_QUICKSTART.md` - Quick setup guide
|
|
- `EA_DOCUMENTATION.md` - v1.0 documentation (legacy)
|
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|
|
### Educational Materials
|
|
- `Ebook_Forex-A-Z_copy.pdf` - Forex fundamentals
|
|
- `Forex-Trading-For-Beginners-The-Ultimate-Guide_copy.pdf` - Beginner guide
|
|
- `Trading_Course_Advanced.pdf` - Advanced strategies
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|
|
|
### Source Code
|
|
- `ForexMaster_v2_MultiStrategy.mq5` - Main EA source (v2.0)
|
|
- `ForexMasterEA.mq5` - Legacy EA source (v1.0)
|
|
- `ForexTrader_EA.mq5` - Alternative EA source (v1.0)
|
|
|
|
## Future Enhancements (Planned)
|
|
|
|
### Version 2.1 (Planned)
|
|
- Machine learning signal optimization
|
|
- Correlation analysis between pairs
|
|
- Adaptive indicator parameters
|
|
- Enhanced news filter integration
|
|
- Performance analytics dashboard
|
|
|
|
### Version 2.2 (Planned)
|
|
- Multi-symbol trading capability
|
|
- Advanced money management models
|
|
- Grid/martingale optional modes
|
|
- Equity-based position sizing
|
|
- Mobile notifications integration
|
|
|
|
## Conclusion
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|
|
|
ForexMaster v2.0 represents a significant evolution in Expert Advisor technology, addressing the core limitations of traditional single-strategy EAs. By combining multiple strategies, implementing intelligent signal filtering, and utilizing advanced risk management techniques, this EA aims to achieve consistent profitability with controlled risk.
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|
|
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**Key Success Factors:**
|
|
1. **Diversification**: Multiple strategies reduce dependence on single approach
|
|
2. **Quality Over Quantity**: Signal scoring ensures only high-probability trades
|
|
3. **Adaptive Risk**: Dynamic adjustments based on performance
|
|
4. **Advanced Management**: Automated breakeven, partial TP, trailing stops
|
|
5. **Portfolio Approach**: Managing multiple positions as a unified portfolio
|
|
|
|
**Remember**: No EA is perfect. Success requires proper testing, appropriate risk management, continuous monitoring, and realistic expectations. Always start with conservative settings and gradually increase exposure as performance is proven.
|
|
|
|
---
|
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|
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**Created**: November 2024
|
|
**Version**: 2.0
|
|
**Status**: Production Ready
|
|
**License**: MLQ5-EA Project
|
|
**Support**: See documentation and included educational materials
|