Basic Overview

Concord Drive operates on a number of forex pairs like USDJPY, AUDUSD, NZDUSD, CHFJPY, USDCHF, and USDCAD, utilizing a mix of technical indicators equivalent to Shifting Averages, Ichimoku Cloud, RSI, and Bollinger Bands. It adapts to market situations for each short-term scalping and longer-term trades. You may take away a few of the symbols however please don’t add any new symbols, equivalent to EURUSD, as a result of the EA won’t know how you can commerce them.

Enter Parameters Defined

1. Specify Buying and selling Symbols: Select which forex pairs Concord Drive will commerce. By default, the pairs embody USDJPY, AUDUSD, CHFJPY, NZDUSD, USDCAD, and USDCHF. You may regulate these to incorporate different pairs of your alternative.
2. Select Major Magic Quantity: This quantity is exclusive for every buying and selling account and identifies Concord Drive’s trades, so the EA doesn’t combine up orders with different techniques. You may set it to a most well-liked quantity.
3. Customized Orders Remark: Add a brief word that may seem within the buying and selling log for every commerce made by the EA. This may be useful for monitoring functions.
4. Handbook SL (-1 for Auto): This setting permits you to manually set a Cease Loss (SL) worth. For those who set it to “-1,” Concord Drive will mechanically calculate the SL primarily based on the technique and danger administration settings. For instance, for those who set it to 30, every commerce can have a 30-pip SL worth.
5. Handbook TP (-1 for Auto): Just like the Cease Loss setting, you may manually specify a Take Revenue (TP) degree or set it to “-1” to let Concord Drive deal with it mechanically. For those who set it to 30, every commerce can have a 30-pip TP worth.
6. Additional Stoploss Pips: Add additional pips to the mechanically calculated Cease Loss for extra conservative danger administration.
7. Additional Takeprofit Pips: Add additional pips to the Take Revenue worth to extend potential revenue.
8. Lot Calculation Technique: Select how you can calculate the lot measurement:
   • Managing Threat Based mostly on Stability Proportion: Lot measurement is calculated primarily based on a share of your account stability.
   • Utilizing a Fixed Lot Measurement: Fastened lot measurement for each commerce.
   • Utilizing a Fixed Lot Measurement per X Stability: Lot measurement scales along with your account stability.
9. Commerce Threat Proportion: Outline what share of your account stability you are prepared to danger per commerce.
10. Fastened Lot Worth: Set a hard and fast lot measurement for those who favor to not use a variable lot measurement.
11. Select Buying and selling Begin Time: Set the time when the EA ought to begin buying and selling every day.
12. Select Buying and selling Finish Time: Set the time when the EA ought to cease buying and selling every day.
13. Enabling Information Filter: Allow or disable the information filter to keep away from buying and selling throughout main financial information releases. If enabled, add this deal with to your listed URLs: https://faireconomy.media.
14. Keep away from Buying and selling X Hours Previous to Information: Set what number of hours earlier than a information launch the EA ought to cease buying and selling.
15. Keep away from Buying and selling X Hours After Information: Set what number of hours after a information launch the EA ought to wait earlier than resuming buying and selling.
16. Toggle Trailing Cease On/Off: Allow or disable trailing stops to lock in income.
17. Trailing Cease Technique Setup: Select how trailing stops are calculated:
    • Utilizing PSAR Values (Parabolic SAR)
    • Utilizing ATR (Common True Vary)
    • Utilizing Shifting Common
18. Toggle Eradicating TP On/Off After Trailing Cease: If enabled, any mounted Take Revenue is eliminated as soon as a trailing cease is activated, permitting the commerce to run longer if the development continues.
19. Toggle Closing A part of Order and Trailing On/Off: Determine if a portion of the place must be closed when a trailing cease is activated to safe some income whereas permitting the remainder to run.
20. Lot Proportion to Shut Setting at Begin of Trailing: Specify the proportion of the commerce to shut when the trailing cease begins, if closing a part of an order is enabled.
21. Trailing Begin in Pips Setting: Set how far the commerce ought to transfer in your favor (in pips) earlier than the trailing cease begins.
22. Trailing Distance in Pips Setting: Defines the gap between the trailing cease and the present worth.
23. Trailing Step in Pips Setting: Set the incremental steps at which the trailing cease will transfer as the value continues to advance in your favor.
24. ATR Interval for Trailing Setting: If ATR is used for trailing stops, outline the ATR interval for calculating market volatility.
25. ATR Timeframe for Trailing Setting: Select the timeframe for ATR calculations, impacting the responsiveness of trailing stops to volatility.
26. ATR Multiplier Setting for Trailing: Set a multiplier for the ATR worth to find out how large or slender the trailing cease must be.
27. PSAR Step Setting for Trailing: Regulate the sensitivity of the Parabolic SAR indicator for trailing stops.
28. PSAR Most Setting for Trailing: Outline the utmost step for the PSAR because the commerce progresses.
29. PSAR Timeframe Setting for Trailing: Set the timeframe for the Parabolic SAR calculation.
30. Ratio of SL Setting for Trailing: Specify the ratio of Cease Loss for setting the trailing cease.
31. Begin After Ratio of SL Setting for Trailing: Set when the trailing cease must be activated primarily based on the Cease Loss ratio.
32. Shifting Common Interval Setting for Trailing: If utilizing a Shifting Common for trailing stops, specify the interval for the transferring common calculation.
33. Shifting Common Technique Setting for Trailing: Select the kind of transferring common used (Easy, Exponential, Smoothed, or Linear Weighted).
34. Candle Timeframe Setting for Trailing Based mostly on Final Candle Excessive/Low: Select the candle timeframe used to find out the trailing cease primarily based on the final candle’s excessive or low.
35. Trailing Begin Revenue Setting: Set the revenue degree at which the trailing cease shall be initiated.
36. Trailing Step Revenue Setting: Outline how a lot revenue wants to extend for the trailing cease to maneuver to the following degree.
37. Trailing Distance Revenue Setting: Specify the gap for trailing revenue to make sure income are locked in.
38. Breakeven Additional Pips Setting: Add additional pips when transferring the Cease Loss to breakeven to supply a buffer in opposition to minor worth reversals.

Conclusion: Concord Drive is filled with options that can assist you commerce safely and effectively. Understanding every enter will help you customise the EA to your buying and selling model, managing danger whereas making the most of market alternatives. Be at liberty to regulate settings step by step, check in a demo atmosphere, and discover the totally different methods Concord Drive provides to search out the right configuration for you.