FxPro Quant Strategy Builder
Contents
1. FxPro Quant Strategy Builder Making the creation of Expert Advisors as easy as it gets User Manual Table of Contents 2 1 ZZ Zc 2 4 2 0 2 6 6 1 6 2 6 3 6 3 1 03 2 6 3 3 6 3 4 6 4 9 1 9 2 293 9 4 9 9 9 6 9 9 8 J9 9 10 9 11 9 12 What Expert Advisors EAs are Why Use an Expert Advisor EA Organise Your Thoughts Emotion free Trading Make Trading Less Stressful Make Trading Less Time consuming and Identify More Trading Opportunities Avoid Trading Mistakes Back testing Demo trading Strategy Optimisation and Results Analysis Creating Strategies with the FxPro Quant Strategy Builder Tool Getting Started Interface and Menu Main Components and Functionality Drag and Drop Main Component Groups Connectors Types of connections If two nodes do not connect it means they are not meant to Nodes that connect are not necessarily right for each other The importance of direction in connecting two nodes The Magic Index Save Import and Export Build for MT4 and cTrader FxPro Quant Strategy Builder Functions Nodes Indicators Input Variables Math Basic Math Advanced Logic Trade Info Date and Time Market Data Output Library N NN OO fF RA A WWW WW W Oo O OO NY NY NY NM NYO NYO YM NY NM NM NHN YN a a a a gt O O O O DON N OA Aa a O O O AON N FS SF FxPro Quant Making the creation of Expert Advisors as easy as it gets 1 What Exper2. The Commodity Channel Index CCI measures the variation of the underlying instrument s price from its statistical mean Donald Lamber DeMarker MT4 Based on the comparison of the period maximum with the previous period maximum the DeMarker DeM indicator attempts to measure the demand for the underlying instrument The index is used to determine overbought oversold conditions Tom DeMark Envelopes MT4 The Envelopes trading bands define the upper and lower boundaries of an instrument s normal trading range They comprise two Moving Averages shifted upward and downward Force Index MT4 The Force Index Fl is an indicator that uses price and volume to assess the power behind a move or identify possible turning points The Force Index combines direction extent and volume as an oscillator that fluctuates in positive and negative territory as the balance of power shifts Alexander Elder Fractals MT4 The Fractal indicator uses a series of at least five successive bars to identify resistance support levels and is used in order to determine turning points Bill J Williams Gator MT4 The Gator oscillator tracks the periods when the Alligator indicator balance lines widen or narrow down convergence divergence As a trend indicator it is most useful during strong directional trends Bill J Williams Ichimoku MT4 amp cTrader The Ichimoku Kinko Hyo is a Moving Average based trend identification system that bu
3. functions in a single statement which is useful when creating complex expressions OR MT4 amp cTrader Allows you to check if either or all of the conditions connected are valid The node is triggered if at least one of its input nodes is triggered Please note that only other logic operations can be connected to an OR function Compare AND OR It is possible to combine several OR functions in a single statement which is useful when creating complex expressions 2 9 7 Trade Magic Index MT4 amp cTrader The Magic Index number is one of the parameters of the OrderSend function used in MQL4 to open a new order It is a unique number assigned to your orders as a reference that enables Expert Advisors to differentiate between the orders that opened and those orders opened manually or by another Expert Advisor This node allows the Magic Index number to be set centrally and then linked directly to other nodes No Orders MT4 amp cTrader Returns True if there are no open trades for any of the specified Magic Indices Order Status MT4 amp cTrader Checks whether an order with specific Magic Index has the specified property For example if it is a Buy Sell order a market pending order etc Order Data MT4 amp cTrader Extracts specified information from an order with the specific Magic Index number including Order Ticket Open Price Profit Stop Loss etc Order Open Time MT4 amp cTrad
4. 5 Interface amp Menu Trade Date and Time The FxPro Quant Strategy Builder screen consists of three main parts the Components Menu the Main Workspace Area and the Parameters Box Components Menu In the Components Menu you will find a list of all components available for use to build Expert Advisors Before you start building your Expert Advisor click on Platform Selector to choose a trading platform You can choose between MT4 cTrader and MT4 and clTrader The Components Menu will update automatically and include the components available according to your select ed platform The components are grouped into broad categories based on their functionality and use An extended description of each function or node is presented in the following pages of this manual Main Workspace Area The Workspace serves as the drawing board for creating Expert Advi sors This is done by dragging and dropping functions onto the Workspace and then connecting them to each other using the available logic in order to implement the user s desired trading strategy The Parameters Box displays the selected node s available parameters if any and allows for their customisation These parameters are the same as on the selected trading platform Risk Warning Trading CFDs involves significant risk of loss 6 Main Components amp Functionality 6 1 Drag amp Drop The FxPro Quant Strategy Bui
5. accura cy of your trading and help you achieve better results 2 6 Back testing Demo trading Strategy Optimisation and Results Analysis Creating an Expert Advisor that will help maximise your profits is in many ways like putting on a performance on stage It is a process that requires rehearsing and modification so that you achieve as good results as possible Both FxPro MT4 and cTrader platforms support testing strategies on historic data to let you visualise the results on chart in order to improve and perfect your system for optimum perfor mance You can also compare between different versions and strategies and then test your system under current circumstances in a risk free demo environment You should take as much time as you need to make sure that the Expert Advisor you created will work in your favour and bring you the desired results 3 Creating Strategies with the FxPro Quant Strategy Builder Tool The FxPro Quant Strategy Builder is a revolutionary new tool designed to act as your personal EA Developer With simple drag and drop technologies and numerous inputs including technical indicators mathematical functions account info and market data the Strategy Builder enables users to create their own Expert Advisors without requiring any MQL4 programming knowledge By introducing this service FxPro virtually eliminates the barriers to entry that exist in the world of Automated Trading Robots thereby allowing our clients acc
6. is a Moving Average of the true ranges J Welles Wilder Awesome MT4 amp cTrader The Awesome AO is designed to show the current market momentum It is created using the difference between the 34 period and 5 period Simple Moving Averages of the bar s midpoints H L 2 Bill J Williams Bears Power MT4 amp cTrader The Bears Power indicator shows the strength of the sellers in the market If the indicator is below zero the sellers or bears are strong if it is above zero they are weak The indicator aims at identifying if a bearish trend will continue or if the price has reached a point where it might reverse Alexander Elder Bollinger Bands MT4 amp cTrader The Bollinger Trading Bands BB wrap around the price chart and measure volatility They widen during volatile markets and contract during calmer periods 21 Bulls Power MT4 The Bulls Power indicator shows the strength of the buyers in the market If the indicator is above zero the buyers or bulls are strong if it is below zero they are weak This indicator aims at identifying if a bullish trend will continue or if the price has reached a point where it might reverse Alexander Elder Bill Williams Market Facilitation MT4 The Bill Williams Market Facilitation MFI attempts to determine the efficiency of price move ment by quantifying the price movement per unit of volume Bill J Williams Commodity Channel Index MT4 amp cTrader
7. risks involved taking into account your investment objectives and level of experience Past performance of CFDs is not a reliable indicator of future results Most CFDs have no set maturity date Hence a CFD position matures on the date you choose to close an existing open position Seek independent advice if necessary Please read FxPro s full Risk Disclosure Statement http www fxpro co uk documents risk disclosure notice FxPro UK Limited is authorised and regulated by the Financial Conduct Authority registration no 509956 FxPro Financial Services Limited is authorised and regulated by the Cyprus Securities and Exchange Commission licence no 078 07 34 Fx Pro for serious traders Trade Forex Like a Pro Contact us today FxPro Financial Services Limited Tel 357 25 969 200 E mail info fxpro com FxPro UK Limited Tel 44 0 203 151 5550 E mail info fxpro co uk
8. The Firm does not represent warrant or covenant i the availability of the FxPro Quant EA and or a template EA and or a cBot for an unlimited period of time ii the continuous operation of the FxPro Quant EA and or a template EA and or a cBot and ili the performance or fitness of the FxPro Quant EA and or a template EA and or a cBot for a particular purpose By using the FxPro Quant to develop an EA and or a template EA and or a cBot you understand and accept that there is no such software that is free from any errors You are advised to independently test and verify an EA and or a template EA and or a cBot developed through the FxPro Quant in a demo account environment prior to attaching the EA and or a template EA and or a cBot to a real trading account You agree to hold FxPro its officers directors employees advisors consultants and or other partners harmless for any act or omission in the course of or in connection with the FxPro Quant and or an EA and or a template EA and or a cBot developed through it Risk warning Contracts for Difference CFDs are complex financial products that are traded on margin Trading CFDs carries a high level of risk since leverage can work both to your advantage and disadvantage As a result CFDs may not be suitable for all investors because you may lose all your invested capital You should not risk more than you are prepared to lose Before deciding to trade you need to ensure that you understand the
9. The time is based on the server time GMT 2 Digits MT4 amp cTrader Returns the number of digits after the decimal point in the quote of the current price For example it returns 5 for EURUSD 3 for USDUJPY etc Last Error MT4 Returns error ID of the last error that occurred during the Expert Advisor execution For exam ple it returns 130 if failed to send order due to invalid stops A list of possible errors can be found at http docs mql4 com constants errors Leverage MT4 amp cTrader Returns the maximum leverage allowed for the account Period MT4 amp cTrader Returns the timeframe of the chart that the Expert Advisor is applied to Please note that if for example we are using a 3 hour chart this function will return the number of minutes included in this timeframe in a numerical form 120 Point MT4 amp cTrader Shows the minimum price change of the current Symbol For example it will return 0 00001 for EURUSD Please note that one point for each currency pair is equal to 1 10 of its Pip Status MT4 amp cTrader Contains information about the current state of the platform including Connection to Broker Demo or Live Account Backtest or Live Trading etc Symbol MT4 amp cTrader Returns the Symbol of the chart that the Expert Advisor is applied to For example EURUSD 9 9 Date and Time DateTime Now MT4 amp cTrader Returns current server time Modify DateTime MT4 amp cTrad
10. alues For example MyEAName EURUSD Date Time Variable MT4 amp cTrader Specifies a date and time variable that can be used to remember values For example 01 01 2015 15 30 00 25 9 4 Math Basic Absolute MT4 amp cTrader Returns the absolute value of the specified numerical input For example 2 will return 2 and 2 will return 2 Arithmetic MT4 amp cTrader Returns the result of a basic arithmetic operation addition subtraction multiplication and division Max MT4 amp cTrader Returns the smallest of the two specified numerical inputs For example Min 4 5 6 4 Min MT4 amp cTrader Applies the natural logarithm function to the specified numerical input For example log 123 Power MT4 amp cTrader Raises the specified numerical input to the specified power For example 4 to the power of 2 will return 16 Round MT4 amp cTrader Rounds a decimal number to the specified level of precision or alternatively introduces a ceiling or a floor Transform MT4 amp cTrader Transforms decimal values like 0 00010 into whole numbers like 10 and vice versa The conver sion digits are automatically selected based on the instrument in question Conditional Arithmetic MT4 amp cTrader If conditions are met it performs the specified arithmetic operation and returns the result If conditions are not met it returns unchanged Value 1 26 9 5 Math Advanced Exponent
11. an external Number Input so as to be able to change the Bollinger Bands period when our Expert Advisor is completed By dragging in the relevant node and connecting it to the Bollinger Bands node a new window appears enquiring which parame ter of the Bollinger Bands system we would like the Number Input to stand for Symbol Time Frame Current i i Period 4 it Bi ai E Deviation Z As presented in the figure above selecting the Period parameter will populate the relevant field in the Bollinger Bands node and the length of the relevant period will thereafter be controlled by the external Number Input Please also note that for the sake of this example we select Upper Line as the Bollinger Bands Output Value so as to compare our Ask price with the upper line of the Bollinger Bands 6 3 1 3 Resulting output Having completed our input comparison structure we now wish to command the Expert Advisor to sell whenever these conditions are met To do so we introduce an Open Position node from the Trade category which we rename to Sell Order for convenience You will notice that the connector that appears between the Compare node and the Sell Order is green coloured Trigger Magic Index g lf no orders j 7 Fari 4 True Symbol Connectors that originate from Logic and Trade categories appear
12. er Returns order open time The order is recognised by its specified Magic Index number Open Position MT4 amp cTrader Opens a market order whenever the node is triggered The market order can be either long or short depending on the Side preference set by the user Close Position MT4 amp cTrader Closes a market order with the specified Magic Index whenever the node is triggered Delete Pending MT4 amp cTrader Deletes a pending order with the specified Magic Index whenever the node is triggered Modify Position MT4 amp cTrader Modifies the Stop Loss or Take Profit levels of an open order The order is recog nised by its specified Magic Index Send Pending MT4 amp cTrader Opens a pending order whenever the node is triggered The price is either an absolute price value for example 1 12345 or a number of points above below current price for example 200 Modify Pending MT4 amp cTrader Modifies the Stop Loss or Take Profit levels of a pending order The order is recognised by its specified Magic Index Order Expiration MT4 amp cTrader Returns the expiration time of a pending order The order is recognised by its specified Magic Index number 28 9 8 Info Account MT4 amp cTrader Contains all available account information including Balance Equity Free Margin Profit etc Date and Time MT4 amp cTrader Contains date and time information including Hour Minute Day of Week
13. er Changes time value by adding a time span such as minutes or days To subtract time span you may set negative value Construct DateTime MT4 amp cTrader Constructs DateTime value from date and time components such as hour day or month Compare DateTime MT4 amp cTrader Allows for the comparison of two date and time values in terms of equal larger or smaller gt lt gt lt This node is triggered when the condition i e the comparison of two dates set evaluates to true For example Date 1 gt Date 2 9 10 Market Data Ask MT4 amp cTrader Ask price of the latest tick This is the lowest quoted offer price among the available sellers Bid MT4 amp cTrader Bid price of the latest tick This is the highest quoted offer price among the available buyers First Tick MT4 amp cTrader This node is triggered on the first tick of every new Bar Historic Data MT4 amp cTrader Bar chart data including High Low Open and Close prices registered etc Instrument Info MT4 Instrument specific information including Minimum Lot Spread etc 9 11 Output Alert MT4 Produces a visual alert with sound and specified image Chart Comment MT4 Writes text on the chart starting from the top left corner Print Error Text MT4 Prints the last error that occurred during Expert Advisor execution to the Experts tab Print Log MT4 amp cTrader Prints specific message to Ex
14. er Closes all currently long open trades This function checks only for trades with the specified Magic Index and current Symbol Close All Short Trades MT4 amp cTrader Closes all currently short open trades This function checks only for trades with the specified Magic Index and current Symbol Sell MT4 amp cTrader Opens a short trade with specified lots Stop Loss and Take Profit levels measured in points 1 pip 10 points This function will not open more trades that the specified MaxOpenTrades set by the user It will also not open trades more frequently than the specified Max TradeFrequen cyMins number of minutes 31 Buy MT4 amp cTrader Opens a long trade with specified lots Stop Loss and Take Profit levels measured in points 1 pip 10 points This function will not open more trades that the specified MaxOpenTrades set by the user It will also not open trades more frequently than the specified MaxTradeFrequen cyMins number of minutes Simple Trailing Stop MT4 amp cTrader Trails the Stop Losses of all currently open trades that have the specified Magic Index Trailing Stop is calculated as the difference between the current price plus minus the user specified TrailingStopPoints Universal Trailing Stop MT4 amp cTrader Trails the Stop Losses of all currently open trades that have the specified Magic Index Trailing Stop is determined by the Value parameter which wo
15. ess to cutting edge technology that can significantly improve their trading performance Whether you want an Expert Advisor to trade on your behalf or want to consult an Expert Advisor for your trades the Strategy Builder tool can take your trading to the next level Risk Warning Trading CFDs involves significant risk of loss 4 Getting Started To access the FxPro Quant Strategy Builder visit the FxPro Quant website quant fxpro com and click Launch FxPro Quant Once you launch FxPro Quant you can sign in with your FxPro Direct credentials However you do not have to sign in to use the application To start building your first robot click Create new or go to lt Menu gt Create New gt You can name your robot and provide a description of it before you save it Both registered and unregistered users have access to a number of EA templates to use and or modify Click Examples to see the list of available EA templates Registered users may store their strategies on server by clicking on Save or Save As Unreg istered users may import export the Quant File to their hard drive to continue working on their strategies lt Menu Import Export to File gt Expert Advisors created modified and saved by registered users will be presented in a list format and will be available for future use and or modification in My strategies Risk Warning Trading CFDs involves significant risk of loss
16. ez2 Type MACD Main Line greater or equal to gt Value 2 MA S j 5 l n s MACD Signal Line Trade Trading operations used to initiate modify or close trades Example A Trade node Initiating a new trading position based on the com parison of the current value of the MACD Main Line with the value of the MACD Signal Line Trigger nl _ Magic Index AACD Main Line Si al 0 Open Position if no orders MACD Signal Line True symbol Risk Warning Trading CFDs involves significant risk of loss 10 Info Nodes which return account and market info Example of an Info node Using the Free Margin level available in an account as one of the conditions for initiating a new trading position Parameter 4 S oO Free Margin Q ma A kampare Credit Equity Free Margin tS Margin Profit Date and Time Nodes which are used to work with dates Date Order Open Time Operation Add minutes Value 15 Example showing how to close an order a while after its opening Risk Warning Trading CFDs involves significant risk of loss 11 Market Data Instrument related data drawn from the market Example of a Market Data node Initiating a new trading position based on the comparison of the current Ask price with the value of the Envelopes band Note that the Ask node has no parameters to customise s
17. ial MT4 amp cTrader Returns the value of e raised to the power of specified numerical input Logarithm MT4 amp cTrader Applies the natural logarithm function to the specified numerical input For example log 123 Modulus MT4 amp cTrader Returns the floating point remainder of division of two numbers For example if x 10 and y 3 since x a y b gt 10 3 3 1 gt gt gt gt gt gt gt 9 gt b MathMod x y 1 Random Number MT4 amp cTrader A random value is chosen from a range of values specified by the user Choosing Reset with time will enhance operation Square Root MT4 amp cTrader Returns the square root of specified numerical input For example Square Route 16 4 Trigonometric MT4 amp cTrader Applies a trigonometric function to a given numerical input For example Sin Cos Tan etc 9 6 Logic Compare MT4 amp cTrader Allows the comparison of two different values in terms of equal larger or smaller gt lt lt gt This node is triggered when the condition i e the comparison of two values set evaluates to true For example if Value 1 gt Value 2 AND MT4 amp cTrader Allows you to add together a number of different conditions The node is triggered when all of its inputs nodes are triggered Please note that only other logic operations can be connected to an AND function Compare AND OR It is possible to combine several AND
18. ilds on candlestick charting with the aim to improve the accuracy of forecast price moves It factors in time as an additional element along with the price action Goichi Hosoda 29 MACD MT4 amp cTrader The MACD is a trend following indicator based on the relationship between two Exponentially Smoothed Moving Averages of the closing prices Gerald Appel Momentum MT4 amp cTrader The Momentum indicator measures the change that an instrument s price has registered over a given period of time J Welles Wilder Money Flow Index MT4 amp cTrader The Money Flow Index MFI measures the strength of money flowing in and out of an instru ment over a given time span It is related to the Relative Strength Index RSI but also accounts for volume Gene Quong Avrum Soudack Moving Average MT4 amp cTrader A Moving Average is an indicator that takes the average value of a security over a given period of time On Balance Volume MT4 amp cTrader The On Balance Volume OBV is a momentum indicator that relates volume to price change It is a running total on volume showing the money flowing in and out of an instrument Joe Gran ville Moving Average of Oscillator MT4 The Moving Average of Oscillator OsMA determines the difference between the MACD oscillator and the Signal Line of the oscillator In certain systems the oscillator is sometimes called MACD Histogram Parabolic SAR MT4 amp cTrader The Parabo
19. ile Case B presents the exact opposite There is a huge difference between these two cases This becomes obvious when we review the Parameters Box of each case In Case A the calcu lated value of the Bollinger Bands has been used as an external input to substitute for Value 1 used in the calculation of the Arithmetic operation BB Value 2 in this case In Case B how ever it is the sum derived by the Arithmetic operation that is used as a parameter to derive the Bollinger Bands substituting for the Period in the calculations Arithmetic Bollinger Bands Math Basic Arithmetic Indicators Bollinger Bands Value 1 Symbol Operation Time Frame Current Value 2 Period Somme CaseA Case B Risk Warning Trading CFDs involves significant risk of loss 18 6 4 The Magic Index You may have noticed that there is a Magic Index parameter for all nodes that involve trading operations A Magic Index node can also be found under the Trade category The Magic Index number helps the Expert Advisor identify open positions It is necessary for changing Stop Loss or Take Profit parameters as well as for retrieving position data and closing particular positions Let s look at an example Consider that an Expert Advisor is built in order to initiate Buy and Sell orders based on a simple Moving Average MA crossover system This means that the system will be opening both type
20. in green colour indicating the positive association with the condition set In the Expert Advisor created here the Sell Order will be executed only if the condition we have set is met Risk Warning Trading CFDs involves significant risk of loss 15 6 3 1 4 Reverse output The FxPro Quant Strategy Builder also allows us to use nodes as triggers in the event that the condition set is not met To demonstrate this functionality let s assume that the Expert Advisor of our example is required to execute a Close Sell in the event that our condition is not met This means that when the Ask price of the underlying instrument is not higher than the upper band of the Bollinger Bands the Expert Advisor should close the open Sell Order Dragging on the Workspace a Close Position node we rename it to Close Sell and customise its parameters E Thole Number Inout Bollinger Rands Chose Sell The condition we need to set is the exact opposite of what we have set for our Sell Order That is we need to reverse the parameter value by clicking the Reverse button Trigger Not Compare gt Magic Index a i 1 a ie L Symbol Risk Warning Trading CFDs involves significant risk of loss 16 6 3 2 If two nodes do not connect it means they are not meant to Connecting functions to create your system is admittedly as easy as it gets with the FxPro Quan
21. ince it merely returns the price of the best Ask price from the market Output Reporting functions such as alerts and error texts to aid with the testing of Expert Advisors Example of an Output node Detecting error messages on the Compare node of the previous example Trigger Compare L F y all Compare Arini emor text Risk Warning Trading CFDs involves significant risk of loss 12 Library Custom built FxPro functions intended to facilitate the creation of more complex Expert Advisor systems Example of a Library node Dragging and dropping a Simple Trailing Stop node can introduce automatic trailing stops for open orders Please note that Trailing Stop nodes are stand alone nodes That is they do not need to be connected to any other system nodes in order to be activated Magicindex 0 nadtlon Wait for Profit Yes TrailingStopPoints Simple Trailing Stop 200 z Risk Warning Trading CFDs involves significant risk of loss 6 2 Connectors Having explained the process of selecting a node from the Components Menu and placing it onto the Workspace we will now look at how you can connect and combine the nodes in order to build the logic of your Expert Advisor In the FxPro Quant Strategy Builder you can combine nodes and form more complex logical statements through the use of Connectors Connectors are built in every node To reveal a connecto
22. lder is designed to be simple and user friendly To use its compo nents all you have to do is drag and drop any component anywhere on the Workspace Area Releasing the mouse also populates the Parameters Box with the node s specific parameters Simply select any node on the Workspace Area to move it around modify its parameters or remove it altogether Select Move True False Input True False Input 6 2 Main Component Groups The Components Menu groups all functions into broad categories of nodes which serve as build ing blocks for the creation of Expert Advisors e Indicators Includes standard indicators supported Symbol by the selected trading platform and allows customisation of the same inputs as the platform selected _ Time Frame z Current Step 0 02 Maximum 0 2 Example of a Number Input used to set the value SNL HaC of the parameter Period in the Bulls Power indicator 0 Risk Warning Trading CFDs involves significant risk of loss Input Includes external inputs that can be assigned to other nodes There are four types of inputs available namely Boolean Number Integer and String Symbol Time Frame Curent Period Applied Price Lise PTEE Example of a Number Input used to set the Shitt Back value of the parameter Period in the Bulls Power indicator Variables Nodes used to store value between the ticks There is a corresponding Variable Node for each da
23. lic Stop and Reverse SAR is a trend following system constantly tailing the price action It is often used by traders to set trailing price stops The aim is to pinpoint when there is a higher than normal probability of a trend reversal J Welles Wilder Relative Strength Index MT4 amp cTrader The Relative Strength Index RSI is a smoothened price following oscillator with a range of 0 100 It is a very popular countertrend oscillator This setup works best in a range environment when overbought oversold readings are more likely to signal a change in direction J Welles Wilder Relative Vigor Index MT4 The Relative Vigor Index RVI compares the positioning of a security s closing price relative to its price range and the result is smoothed using an Exponential Moving Average of the values The idea behind the Relative Vigor Index is that the energy of the move is established by where the prices end up at the close 23 Standard Deviation The Standard Deviation is a statistical measure of volatility typically used as a component for other indicators Standard Deviation MT4 amp cTrader The Standard Deviation is a statistical measure of volatility typically used as a component for other indicators Stochastic MT4 amp cTrader The Stochastic K D compares where the underlying instrument s closing price is relative to its price range over a given period of time based on the observation that prices tend to close near
24. ns a short trade while ensuring that the exposure does not exceed any of the three MaxEx posure parameters If the calculated lot size is less than the minimum lot size the trade will not open Buy with MM MT4 amp cTrader Opens a long trade while ensuring that the exposure does not exceed any of the three MaxEx posure parameters If the calculated lot size is less than the minimum lot size the trade will not open Is Time MT4 amp cTrader Returns True when the current server time is within the specified range and can be used to restrict trade time or to make the Expert Advisor sleep Start End Hour may be set to the value between 0 and 23 and Minutes must be in the range of 0 to 59 Recent Account Profit MT4 Returns the cumulative profit or loss of all trades closed within the specified number of hours and minutes as well as the current profit or loss of all open trades Max Loss Daily MT4 Returns True if the account has lost more than the specified maximum PercentageLoss of the balance at midnight Horizontal Line Price MT4 Returns the price of the horizontal line with the specified name The node will produce 0 if no line with such name is found Trend Line Price MT4 Returns the price of the trend line with the specified name at the specified bar shift The node will produce 0 if no line with such name is found Recently Hit Stop Loss MT4 Returns True if there was a t
25. pert Advisor logs tab Send Mail MT4 sends email notification The SMTP setting on the trading platform must be configured in order to enable this node to trigger Mobile Notification MT4 sends a notification message to a smartphone The notification setting on the trading platform must be configured in order to enable this node to trigger 30 9 12 Library Number of Open Trades MT4 amp cTrader Returns total number of currently open trades This function checks only for trades with the specified Magic Index and current Symbol Total Open Lots MT4 amp cTrader Returns the sum of the lots of all currently open trades This function checks only for trades with the specified Magic Index and current Symbol Net Open Lots MT4 amp cTrader Checks all currently open trades and returns the difference between the total sum of all the long trades and the sum of all the short trades This function checks only for trades with the speci fied Magic Index and current Symbol Current Exposure Direction MT4 amp cTrader Returns 0 if there are no open trades 1 if the net exposure is long 1 if the net exposure is short This function checks only for trades with the specified Magic Index and current Symbol Close All Trades MT4 amp cTrader Closes all currently open trades This function checks only for trades with the specified Magic Index and current Symbol Close All Long Trades MT4 amp cTrad
26. r simply click anywhere on a node s outer diameter and drag the mouse There are four different types of connections that can be established between nodes In order to demonstrate how these types of connections work we will present a simple Expert Advisor con struction as an example 6 3 1 Types of connections 6 3 1 1 Comparing functions To make a comparison between two nodes or value 1 between one node and a Number Input drag eoo the connector onto the compare node s outer ae Type diameter i greater or equal to gt M i N Value 2 0 When the mouse is released you will be prompted to select whether the newly connected node will represent Value 1 or Value 2 in the compare relationship You may then select to compare the value of the node the Ask price of the instrument in this case with either another node s value or a number that can be typed in the Compare node s Parameters Box as Value 2 Expanding on this example let s consider that we are interested in creating an Expert Advisor that sells when the underlying instrument s Ask price is higher than the upper band of the Bollinger Bands BB Setting the Bollinger Bands node as Value 2 will automatically populate the relevant field on the Compare node s Parameters Box Valle 1 Ask mM i Value 1 greater than gt k value 2 6 3 1 2 Defining function values Now consider that we wish to set
27. rade within the specified time limit and with the specified Magic Index that was closed with a Stop Loss otherwise returning as False Last Error Text MT4 Returns last error in text format 33 Disclaimer The FxPro Quant Strategy Builder is a visual Expert Advisor EA and cBot builder that has been developed outside FxPro or the Firm by a third party and is provided to you in good faith on an as Is basis Therefore the Firm accepts no responsibility for the use of the FxPro Quant and the build installation and use of an EA and or a template EA and or a cBot developed through it Under no circumstances shall FxPro be held responsible for any eventual inaccuracies trading or other losses you may incur as a result of an EA and or a template EA and or a cBot developed through the FxPro Quant Even if all reasonable efforts have been made by the Firm to ensure the proper operation of the FxPro Quant FxPro cannot guarantee the accuracy of performance and or results of any EA and or a template EA and or a cBot developed through the FxPro Quant No representation is being made by the Firm in relation to certain results that may be achieved by an EA and or a template EA and or a cBot developed through the FxPro Quant Prior to running the FxPro Quant to develop an EA and or a template EA and or a cBot you need to care fully consider any risks including but not limited to those involved in trading Contracts for Differ ence
28. s of trades whenever these conditions are met It will perform a Buy order whenever the fast MA crosses above the slow MA and a Sell order in opposite conditions 0 D al a r TE E Now consider that we also want to instruct our Expert Advisor to close these trades when the reverse happens That is to close the Buy trade when the fast MA crosses below the slow MA and vice versa The Magic Index is what helps our Expert Advisor determine which trades to close in the case that we instruct it to close only the Buy orders Trigger Not Compare Magic Index Symbol Lots parameter 0 all 0 Slippage 0 Risk Warning Trading CFDs involves significant risk of loss 19 By using the same Magic Index for Buy and Close Buy and a separate Magic Index for Sell and Close Sell the system recognises which orders to close A Magic Index node can also be found under the Trade category This node allows the index number to be set as an external input linked directly to other nodes This means that the index number will be used in a similar manner with the Number Input as this is portrayed in the exam ple under section 6 3 1 2 Defining function values of this manual 7 save Import and Export Once you create a new strategy or modify an existing one on the FxPro Quant Strategy Builder you need to save it for future
29. t Strategy Builder In some cases however you will find that some nodes refuse to connect with each other This will mean that there is no logic in the sentence you are attempting to create Consider for example the following three nodes Connecting the Max node or the Ask node to an AND node cannot possibly make any logical sense since there is no condition to be satisfied in order for our statement to be true Attempting to connect the Ask node to the Max however makes perfect sense since it will represent one of the values to be compared in order to derive the maximum Max Ask Value 2 6 3 3 Nodes that do connect are not necessarily right for each other Connecting the Account Balance node to the Relative Strength Index is permissible since the oscillator may receive input values for both its Period and Shift Back to be used in the calcula tions However to connect these two nodes with each other does not make much sense d Period Shift Back Relative Strength Index Risk Warning Trading CFDs involves significant risk of loss 17 6 3 4 The importance of direction in connecting two nodes Can you spot the difference between the two combinations presented below G CG Bollinger Bands Arithmetic Bollinger Bands Arithmetic CaseA Case B At first glance they may look alike but in Case A the Bollinger Bands node connects to the Arithmetic node wh
30. t Advisors EAs are An Expert Advisor EA is a mechanical trading system MTS which users can apply in order to automate their trading Expert Advisors can both inform the trader about a possibility to trade or even execute trades automatically by sending orders directly to the broker s trade server Expert Advisors function on the basis of pre programmed trading strategies that incorporate market price analysis money management and trade execution rules set by the creator of the trading system In simple words a trader can record his trading strategy and then use programing language to write a small or large trading program that will follow the conditions set to initiate and close trades It is important to note that Expert Advisors run locally on your personal computer Therefore your trading platform must be running and connected to our servers in order for the system to function 2 Why Use an Expert Advisor EA 2 1 Organise Your Thoughts The mere attempt to record and codify your strategy is often enough to improve you as a trader An Expert Advisor can also act as a valuable consultant even if you decide to monitor your trades manually 2 2 Emotion free Trading Emotions can significantly affect trading decisions especially when real money is on the line Expert Advisors act on the basis of a fixed logic allowing for the execution of emotion free trades 2 3 Make Trading Less Stressful Trading without a pre defined stra
31. ta type including Boolean Number Text and Date Time Trigger Default value g k J a LERF 5 NUN De variate Value Account uty Account Equity Example of a Number Input used to set the value of the parameter Period in the Bulls Power indicator Risk Warning Trading CFDs involves significant risk of loss Math Basic These are mathematical operations used to derive values for use in our Expert Advisor models Example of a Math node Using the Max function connected to two moving averages set as Value1 and Value2 will always return the maximum value of the two If for example MA9 4 and MA14 7 our Max 4 7 7 Value 1 Value 2 Math Advanced These are more advanced mathematical operations including functions such as Exponential Modulus and Square Root Example of a Math Advanced node Using the Logarithm function connected to a Whole Number Input node so as to derive the logarithmic value of the number Risk Warning Trading CFDs involves significant risk of loss Logic Nodes used in order to connect a system s parts together There are three logical operations Compare AND OR Example of a Logic node Comparing the value of the MACD Main Line Value 1 with the value of the MACD Signal Line Value 2 The logical statement examined here is whether Value1 gt Valu
32. tegy may produce a lot of stress especially when things do not go the way you hoped for Deciding on position opening lot size Stop Loss levels and actually sticking to the plan is sometimes much harder than it sounds Using pre programmed trading strategies Expert Advisors can eliminate a trader s anxiety since the process of making trading decisions becomes calculative and unemotional 2 4 Make Trading Less Time consuming and Identify More Trading Opportunities How many times have you switched on your computer and found that you are too late for grasping a trading opportunity And how many times were you forced to wait for hours in order to open monitor a trading position With the forex market open 24 5 such incidents may occur However using an Expert Advisor can significantly minimise the time you spend in front of a monitor Use your time more wisely to form a trading strategy and let technology open monitor and close your positions Risk Warning Trading CFDs involves significant risk of loss 3 2 9 Avoid Trading Mistakes Being human makes manual trading prone to mistakes Making trading decisions as well as opening and monitoring trading positions may be affected by wrong calculations that compromise profit potential For example setting wrong Stop Loss levels or miscalculating the size of an order can prove catastrophic for your investment Trusting these otherwise manual calculations to Expert Advisors can greatly increase the
33. the extreme of the trading range during uptrends downtrends George Lane Williams Present Range MT4 amp cTrader The Williams Percent Range R is a momentum indicator measuring overbought oversold levels It is similar to the Stochastic Oscillator except that it is plotted upside down Larry Williams Custom Indicator MT4 Allows access to the value of a Custom Indicator that is installed on the platform 24 9 2 Input True False Input MT4 amp cTrader Specifies a Boolean external input for the whole EA For example True False Whole Number Input MT4 amp cTrader Specifies a whole number external input for the whole EA For example 123 321 Number Input MT4 amp cTrader Specifies a decimal number external input for the whole EA For example 1 1 12345 5 12323 0 0001 Text Input MT4 amp cTrader Specifies a text external input for the whole EA For example MyEAName EURUSD Date Time Input MT4 Specifies a date and time external input for the External Advisor For example 01 01 2015 15 30 00 9 3 Variables True False Variable MT4 amp cTrader Specifies a Boolean variable that can be used to remember values For example True False Number Variable MT4 amp cTrader Specifies a decimal number variable that can be used to remember values For example 1 1 12345 5 12323 0 0001 Text Variable MT4 amp cTrader Specifies a text variable that can be used to remember v
34. uld be the value of any node that is con nected to it ExtraDeviationPoints are added to the indicator value for sell trades and deducted for the buy trades to ensure that the Stop Loss is trailed less aggressively if needed Break Even MT4 amp cTrader Sets the Stop Loss to entry as soon as the trade is in profit by the BreakEvenPoints Trade Exists MT4 amp cTrader Returns True if there is at least one open trade with the specified Magic Index number or False if there are no open trades with the specified Magic Index number Capital at Risk MT4 amp cTrader Returns the total capital at risk in account currency Risk per trade is calculated as Stop Loss points multiplied by the value of each point in account currency Only trades with the specified Magic Index and current Symbol are used for calculating risk Exposure for Magic MT4 amp cTrader Returns current exposure as a percentage of the account balance Risk per trade is calculated as Stop Loss points multiplied by the value of each point in account currency Only trades with the specified Magic Index and current Symbol are used for calculating risk Exposure for Account MT4 amp cTrader Returns current exposure as a percentage of the account balance Risk per trade is calculated as Stop Loss points multiplied by the value of each point in account currency All open trades are used for calculating risk 32 Sell with MM MT4 amp cTrader Ope
35. use Registered users can save their strategies by clicking the Save button The Expert Advisors will be saved on the server and will appear under the My Strategies list Both registered and unregistered users can use the Export to file and Import from file Menu options The two options allow you to save or load your strategy to from your hard disk This file can be shared with other users 8 Build for MT4 and cTrader In order to use the strategy you have created in the FxPro Quant Strategy Builder you must export the code The way in which you export and apply your strategy to your trading depends on the platform you are using since the programming language for implementing trading strate gies to MT4 is MQL4 while for cAlgo it is C Click on Build to get the code for the trading platform you are using You may then choose whether you want to copy the code to clipboard or whether you want to save it to file Once you have the strategy code you need to compile it Compile your Expert Advisor for MT4 1 Open MT4 and go to Tools gt MetaQuotes Language Editor 2 Click on New gt Create new Expert Advisor 3 Replace default text with your strategy code from FxPro Quant 4 Click Compile Your Expert Advisor will then be available in MT4 Compile your cBot for cAlgo 1 Open cAlgo and click on New to create a new cBot 2 Replace default text with your strategy code from F
36. xPro Quant 3 Click Build Risk Warning Trading CFDs involves significant risk of loss 20 9 Strategy Builder Functions Nodes 9 1 Indicators Accelerator Decelerator MT4 amp cTrader The Accelerator Decelerator AC is used to measure acceleration deceleration of the current driving force As such it is used to predict the change of the driving force in the market The Accelerator Decelerator changes direction before any changes occur in prices thereby providing an early warning Bill J Williams Accumulation Distribution MT4 The Accumulation Distribution tracks the relationship between price and volume and acts as a leading indicator of price movements The indicator uses volume to confirm price trends or warn of weak movements that could result in a price reversal Marc Chaikin Average Directional Movement MT4 The Average Directional Movement ADX system is designed to primarily determine whether a traded instrument is trending and if so the direction in which it is moving J Welles Wilder Alligator MT4 The Alligator is a trend identification tool that makes use of three Moving Averages to represent the movements and interaction between different time periods Designed to detect the begin ning and exhaustion of trends this indicator will typically perform poorly in ranging markets Bill J Williams Average True Range MT4 amp cTrader The Average True Range ATR is a measure of volatility It
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