(Demo works only on AUDCAD pair)
Free ArrowHunterEa DEMO
1. Installation and activation
2. Overview of EA parameters
3. Common issues / F.A.Q
4. EA Customization
5. Last words
1.Installation and activation
1a) Make sure the EA is installed in your local MQL/Experts directories. Depending on your system configuration this will be one of the following directories:
1b) Make sure the Auto trading and DLL imports are enabled:
Activate your EA:
DEMO version: If you are running demo version make sure the LicenseKey EA parameter is set to ‘DEMO’ and you have entered valid email address in EmailAddr field. After that go to your mailbox and activate this product by clicking on the provided link in the welcome email.
FULL version: If you have purchased this product you should have received a welcome email together with a valid LicenseKey code. Enter this code into EA LicenseKey parameter and then just run the EA.
Note: If you did not get any email, check your spam folder as well.
This parameter enables and disables the automatic trade reversal mode. For example if EA is trading ‘long’ and an external indicator displays new ‘short’ entry signal on chart (e.g.: a down-arrow), then the current BUY order is closed and a new SELL is opened immediately.
When ReverseOnOppositeSignal is set to ‘true’ the TakeProfit and Stoploss EA settings need to be configured in such way that they do not interfere with the reversal signals (e.g.: by setting SL and TP to very high values: 200pips)
This parameter enables and disables the Tick logic execution. When set to ‘true’ all logic is analyzed at each market tick, when set to ‘false’ the logic is analyzed only on new candle. Note that setting this flag to ‘true’ can dramatically slow down backtesting speed. However some indicators provide new signals within last candle and so require fast signal execution.
This parameter enables an additional EMA based entry signal filtering mechanism. The following figure explains its operation:
This parameter has two options: ‘FromChart‘ and ‘FromIndicatorBuffer‘. Those options tell the ArrowHunterEA where it must look for its entry signals.
FromChart mode: In this mode the EA will look for entry signals by analyzing the objects that are displayed on chart by any external indicator. IMPORTANT NOTE: in order to make it work the displayed objects like : arrows, dots, thumbs up/down etc..must be real chart objects, and must be ‘clickable’. You can easily check if the object on chart is clickable by clicking on it and displaying its object parameters (right mouse click). See parameters in point 5.
FromIndicatorBuffer mode: This is an advanced of operation. In this mode the EA will access and use the internal buffers of an external indicator with a given name. The indicator buffers and their values can be displayed by pressing ‘CTRL+D’ on chart where a selected indicator is attached. This operation mode is required in case when the attached indicator does not display ‘clickable’ chart objects, but only shows the internal buffer data. Read more at point 3h) and the following.
2e) CheckPreviousCandles: (When SignalEntryMode=FromChart)
This parameter indicates how many previous candles need to be checked for potential entry signals. In most cases we only need to check up to 6 previous bars and look if there are any signals on chart. Note that this parameter becomes handy in case when you need to deal with delaying indicator, that displays delayed signals.
2f) LongArrowCommonString and ShorArrowCommonString: (When SignalEntryMode=FromChart)
This setting tells the ArrowHunterEa, what object names it should analyze while looking for valid entry signals. Note that each ‘clickable’ object has its own name and in most cases the signals share a common string like: “BUY/SELL” or “long/short”. This setting will help EA to filter out only objects that need to be used as entry signals. See figure below, where an object contains a “BUY” string as common signal name:
In this case we would set LongArrowCommonString=BUY and ShorArrowCommonString=SELL.
2g) LongArrowCode and ShorArrowCode: (When SignalEntryMode=FromChart)
This setting is very similar to the ‘Long/ShortArrowCommonString‘ parameter, however in this case the EA will look for chart objects with a specific code. Example:
In this case we would set LongArrowCode =233 and ShorArrowCode=234.
2h) IndicatorName: (When SignalEntryMode=FromIndicatorBuffer)
This parameter defines the name of selected external indicator, like: “Scapler V2.0″ or “traderdream” etc..This name will be used to call the internal indicator buffers from the EA code. This is an advanced option ans should be used only by experienced users who know how to deal with indicator buffers.
2i) NumberOfBuffer1/2: (When SignalEntryMode=FromIndicatorBuffer)
Those parameters define the internal buffer numbers of the selected indicator. To display the indicator buffers you need to attach the selected indicator on chart and hit ‘CTRL+D’. Below an example of internal indicator buffers:
The figure above shows a typical setup of the internal indicator buffers. In this case we would like to work with Buffer1 (NumberOfBuffer1=0) indicating BUY condition and Buffer2 (NumberOfBuffer2=1) indicating a SELL condition. See next point.
2j) Buffer1/2ValueGreaterThan,Buffer1/2ValueSmallerThan: (When SignalEntryMode=FromIndicatorBuffer)
After that internal buffer access is defined (see previous point), this set of 4 parameters can be used to define desired entry condition. In this example we can see that the indicator changes the value of Buffer1 from 0 to actual bid price during a ‘long’ entry condition, and Buffer2 value is changed from 0 to actual ask price during a ‘short’ entry period. We need to tell the ArrowHunterEA when to execute BUY and SELL trades. For this special example we will set the following:
Open BUY order when:
Buffer1ValueGreaterThan=0 AND Buffer1ValueSmallerThan=10000
Open SELL order when:
Buffer1ValueGreaterThan=0 AND Buffer1ValueSmallerThan=10000
This settings will tell EA when to open BUY and SELL without looking on chart objects.
2k) BarShift (When SignalEntryMode=FromIndicatorBuffer)
This setting tell the EA how many of previous candles need to be analyzed while looking for a valid entry condition. (Similar to ‘CheckPreviousCandles’ setting when SignalEntryMode=FromChart).
2l) EA locking settings:
Some times it is desired to lock the EA during selected marked hours or close all orders at specified date. This is possible using these settings:
AllowedTradingHours: Defines the allowed trading hours separated by comma: 12,13,14,15,16,20,22,
AllowLongTrading: Disables and enables trades in ‘long’ direction
AllowShortTrading: Disables and enables trades in ‘short’ direction
MaxSpreadPoints: Defines the maximum allowed spread in points when opening new trades
TimeToCloseOrders: Defines date and time when all open trades need to be closed
2m) Common EA settings:
Those are the common EA settings, and are in most cases self-explanatory. Below the list of common EA settings:
MagicNr: Defines your selected magic number
LotSize: Defines selected Lot size for all orders
MmRiskPerc: When different than 0, the EA will calculate the LotSize automatically using the percentage of accounts balance and defined StopLoss. E.g.: set it to 2 to risk only 2% of your account balance with selected StopLoss level.
TakeProfitPips: Take profit level in pips
StopLossPips: Stop loss level in pips
TrailingStopLossPips: Trailing stop loss step in pips, when set to 0 trailing is disabled
BreakEvenPips: break even level in pips from entry price, when set to 0 break even is disabled
SlippagePoints: slippage level in points
This ‘page of code’ is the actual ArrowHunterEA in ex4 format. This means your browser does not recognize this binary ex4 format, in that case you need to safe this page of code as ‘CoensioArrowHunterEaV03.ex4′. Please do not change the name of this file it will not work under a different name.
3b) ‘I enter my email address in EmailAddr filed but do not received any email':
Please make sure you enter a valid email address! I see a lot of people entering fake email addresses with hope that EA will activate itself. Check also your spam folder for any messages from: coensio.com.
3c) ‘I got an activation link in email, but the link does not work saying ‘Undefined offset’‘:
This is probably ‘link formatting issue’ :
“Undefined offset: 1 in /public/sites/www.coensio.com/ea/FreebieDB3ArrowHunter/
In order to fix this please copy the whole activation link from email and paste it to any text editor, remove all “white spaces and ‘%20′ codes”, examples:
Solution1: As you can see this is not a valid link, copy it and paste manually to your browser and remove ‘%20′ characters from link:
3d) ‘How can I see that my EA is initialized properly?’‘:
You can see it by displaying the ‘Experts’ tab on your MT4 platform, if everything is ok you should see the following:
share it here with our great community!
Chris & Coensio Team
P.S.: and do not forget to like this page