PowerFX User Manual
Follow the instructions below to get started!
Installation Step By Step:
1) Run your MT4 or MT5 terminal. Open its data folder as it is shown on the
next screenshot:
2) Copy the files of the EA to the next folders:
Powerfx 1.0.ex4 to MT4 terminal>File>Open Data Folder>MQL4>Experts
Powerfx 1.0.ex5 to MT5 terminal>File>Open Data Folder>MQL5>Experts
ForexStore_1.4.dll to MT4 terminal>File>Open Data Folder>MQL4>Libraries
ForexStore_MT5_1.4.dll to MT5 terminal>File>Open Data Folder>MQL5>Libraries
3) Restart your MT4 or MT5 terminal.
4) You should see PowerFX in the "Navigator" window. Click it twice or drag and drop it to
AUDUSD chart and/or on EURGBP, USDCAD*, EURJPY* chart with any time frame. Please note, if you want to trade on all supported currency pairs, you need to attach the EA on four different charts.
* USDCAD and EURJPY are available in the Complete version only.
5) Check the boxes in a tab "Common" as it is shown above. In MT5 terminals “Allow DLL imports” is in
the Dependencies tab.
6) In the tab "Inputs" you can enter your settings or use the default recommended. More information
about all the settings you can find below.
7) Now we can check if PowerFX works correctly. The button "AutoTrading/ Algo Trading"
should be turned on, and a “smiley face” near the name of the EA should smile. The risk settings for
each currency pair should be displayed in the upper left corner of each chart:
You Need To Know:
- To reach stable results, the EA should work 24/7. Especially it is necessary when there are opened
trades, because the EA analyzes the Market all the time and can open additional trades.
- Sometimes PowerFX doesn’t open new orders for a few days. So, don’t worry if the EA
doesn’t start trading right after the installation. The EA makes calculations and finds the best moment for entering the Market. Sometimes it may take a couple of days.
- The EA works properly with 4-digit and 5-digit quotes. It makes switching automatically. All the changes you make in the settings of the EA should be based on 4-digit quotes.
Minimum Deposits For PowerFX
AUDUSD
Min Deposit: $450 for 0.01 lot ($3100 for 0.1 lot)
EURGBP
Min Deposit: $1200 for 0.01 lot ($7300 for 0.1 lot)
USDCAD*
Min Deposit: $1600 for 0.01 lot ($14000 for 0.1 lot)
EURJPY*
Min Deposit: $2300 for 0.01 lot ($15000 for 0.1 lot)
* USDCAD and EURJPY are available in the Complete version only.
It is a rare situation when the EA has a drawdown on different currency pairs at the same time. So higher Min Deposit will be enough for trading on all the currency pairs.
Please note, the specified values of Min Deposit mean risking by all of the deposit!
Our Recommendations:
We recommend to use accounts with leverage from 1:200 (and more) and trade risking the following parts of your deposits:
Standard version: up to 35% per pair;
Complete version: up to 35% trading on 1-2 currency pairs, up to 30% trading on 3 currency pairs and up to 25% trading on 4 currency pairs.
In order to trade with the recommended risks, your deposit has to be bigger than Min Deposit. To
calculate exactly how much money you need, use the following formula:
Min Deposit / Risk x 100 = Your required deposit
For example, for trading with the 35% risk your deposit should be following:
AUDUSD:
450 / 35 x 100 = $1290
EURGBP:
1200 / 35 x 100 = $3430
USDCAD:
1600 / 35 x 100 = $4575
EURJPY:
2300 / 35 x 100 = $6575
Parameters Description
AutoLot – Turning on and off of an automatic lot calculation. The calculation is based on a size of
deposit in MaxDrawDown. If "false", the EA will set lot from ManualLot.
MaxDrawDown – It is a percentage of deposit, which the EA will use for trading. It works only if
AutoLot is turned on. If AutoLot is turned off, MaxDrawDown will be selected automatically based on ManualLot.
ManualLot – Here you can manually set lot size. It works only if AutoLot is turned off. If you set lot
manually, MaxDrawDown will be selected automatically based on your lot.
Drawdown control – If “true” the EA works as usual and limits a drawdown. If “false” the EA removes all the StopLosses and stops limiting a drawdown. The open orders will stay in the Market until they are closed by TP or because of lack of money on a deposit. It helps to wait for a rollback to clients who
are willing to take that risk.
Slippage – Maximum slippage. You should not change its value, without need.
CloseAll – If “true”, the EA will immediately close all its opened trades. After that you need to disable
the option, so that PowerFX Reborn could open a first trade again.
StopDate – The date when you want the EA to stop trading. You should use this option if you want to
stop the work of the EA before big news. Notice, the EA will stop its work after the last trade in the
strategy.
NFA – if “Yes”, the EA will disable opening of possible opposite trades (no hedge) and apply FIFO rule.
If “No”, the EA will trade without NFA limitations. Hide Stops will hide SL and TP for all orders, if that is
needed, and the EA will close trades in the necessary moments at their Market prices, same as on our
account. Please notice, despite the fact of enabling NFA option, some brokers may show a FIFO error
from time to time, but it is not dangerous for the logic of the EA.
MT5 version of the EA has an additional parameter - Order_Filling_Type:
ORDER_FILLING_FOK – an order can be filled only in the specified amount. That is a recommended default mode for a guaranteed proper work of the original strategy.
ORDER_FILLING_IOC – a trader agrees to execute a deal with the volume maximally available in the market. In case of using this mode, there could be a violation in the strategy of the EA, and we cannot guarantee a proper operation of the system in all kind of situations. Use this mode only if the default
FOK mode is forbidden and you are ready to put up with possible deviations in the strategy.
ORDER_FILLING_RETURN – in case of partial filling an order with remaining volume is not canceled but processed further. In case of using this mode, there could be a violation in the strategy of the EA, and we cannot guarantee a proper operation of the system in all kind of situations. Use this mode only if the default FOK mode is forbidden and you are ready to put up with possible deviations in the strategy.
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*CFTC RULE 4.41 - HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING. ALSO, SINCE THE TRADES HAVE NOT BEEN EXECUTED, THE RESULTS MAY HAVE UNDER- OR OVER-COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFIT OR LOSSES SIMILAR TO THOSE SHOWN.