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“[_____ GENERAL PARAMETERS _____]”

Expert activated

If set to “false”, Expert operation is completely disabled.

Allow new Set

If set to “false”, only the current active market trades including possibly further upcoming reduction trades that belong to that session are regarded to be operated. After closing of all of them, no more trading activity takes place until setting the parameter to “true”.

Play Sound on Profit Closing

Plays the sound similar to “ta-ta!”, if the session became closed.

Play Sound while Profit Trailing

Plays the sound similar to “tick-tick”, during Profit Trailing activity

Display Panel

Displays the Onscreen Panel on the Chart. On the Chart it can be set to shown/hidden by clicking the headline “’GOLDEN BIRD MT5’ or keyboard key ‘s’ or ‘S’.

Magicnumber

The use of an unique Magic Number ensures that other experts’ trades or manually opened trades cannot be influenced. On the other hand, care must be taken to ensure that other experts are not configured with the same Magic Number. If the value ‘0’ is set to the Magic Number, manually opened trades will be included!

Order Comment

Fills the Comment field of trades with the here preset text.

Panel Background Color

Sets the Panel background to your preferred color. If set to ‘clrNONE’, the background graphics becomes taken.

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“[_____ MONEY MANAGEMENT _____]”

Acc. Risk Mode

If Money Management is used, presets the type of how the available account amount becomes utilized. The safest setting is ‘Margin’. However, ‘Margin’ might not be always suitable on Leverage 1:30 accounts  that are often used in the EU countries because of their legal restrictions.

Acc. Max. Risk%/Trade (0=disabled)

Set the value according to your risk tolerance.

Lotsize Min. (Risk% = 0 fixed)

If ‘PositionRisk’ set to zero, this lot size becomes used for all opened trades.

LotSizeMin Max. (Risk% > 0 max.)

If ‘PositionRisk’ set to higher than zero, this lot size becomes the maximum to be used for all opened trades even if the available free account amount for trading is not been exhausted.

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“[_____ TRADING PARAMETERS _____]”

Positions Long

If set to ‘false’, no long orders will become opened.

Positions Short

If set to ‘false’, no short orders will become opened.

Max. Positions (incl. Recovery)

Limits the count of trades that can become opened including recovery trades.

Max. Recovery Pos. Long  (0=disabled)

Max. Recovery Pos. Short (0=disabled)

Min. Recovery Trade Distance

Max. Spread

Maximum of allowed spread to open or to operate trades. If exceeded, pending orders become closed and market positions are stopping possible active trailing profit operations for the time of big spread.

Use Slippage Protection 

Slippage Protection prevents possible heavy losses during extensive market movements like they are appear in times of important market news and events. If big slippage happens, pending orders become closed and just placed market trades become immediately closed, possible with a small loss. Its better to accept a small loss than to keep a deep drawdown on the open trades for possibly longer time or in worst case to have to close them deep in the red.

Max. Slippage

Refers to previous point. Set the value according to your risk tolerance.

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“[_______________ OPENING PARAMETERS _______________]”

“[_______________ Opening Dynamic _______________]”

Opening Buy/Sell Trail Distance

Used for manual opened market positions only, opened by buttons ‘BUY’/’SELL’. To catch better entry price, a virtually stop order becomes placed with the preset distance in Points. If the price moves further against the chosen trading direction, the virtual order becomes opened if the price pulls back.

Opening Buy/Sell Trail Step

Refers to point previous. The step in Point(s) to track the trailing virtual order.

Opening Recovery Orders Trail Distance

Adj. Opening Dist. Recovery StopBuy

Used for Optimizing the Buy Stop Order placement as quotes and spreads are differ between brokers and account types. Can be set to negative value as well.

Adj. Opening Dist. Recovery StopSell

Used for Optimizing the Sell Stop Order placement as quotes and spreads are differ between brokers and account types. Can be set to negative value as well.

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“[_______________ CLOSING PARAMETERS _______________]”

“[_____ Static Section (Points) _____]”

StopLoss Static (0=disabled)

Preset fixed maximum Stoploss value in Points for the initial trade.

StopLoss Recovery Static (0=disabled)

Preset fixed maximum Stoploss value in Points for recovery trade(s).

StopLoss Reduction for Overnight hold Positions

Preset fixed reduced Takeprofit value in Points for initial trade(s) that are not had been closed on the same day where they had been opened that can be set to a negative value as well. The idea is that when price returns from a deeper drawdown, it is better to take a small loss than risk another possible pullback that could lead to another larger drawdown or ending up in the preset Stoploss.  

TakeProfit Static (0=disabled)

Preset fixed maximum Takeprofit value in Points for all trade(s).

“[_____ Trailing Section (Points) _____]”

Profit Trail Mode

Sets the style of Trailing Profit mode. ‘Exponential’ follows the price more aggressive than the other selectable modes.

Profit Trail Activation

Sets the minimum profit for starting Trailing Profit. Could become increased if the underlying ATR-value exceeds the preset.

Min. Profit(%) saved @Trail Activation

Percent value of the start of the current Profit Trailing that is protected yet. Depending of the preset Profit Trailing Mode, the difference becomes more and more less.

Profit Trail Step

Refers to point previous. The step in Point(s) to track the virtual Profit Trailing.

Profit to Price Min. Distance

Minimum distance to the virtual Profit Trailing price.

BarShift Wait Bars

In ‘Trail Profit Mode’ additional reduces the distance in steps of minutes.  

BarShift Multiplier

Refers to point previous. Speeds up/down the distance reduction.

BarShift TimeFrame

Timeframe for increasing the value of ‘Barshift Wait Bares’

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“[_____ TRADING TIME SETTINGS _____]”

Monday Start Hour (0 = disabled)

Start hour for Monday. Might become set to different start hour as of the rest of weekdays as prices on Monday morning sometimes fluctuate more.

Weekday Start Hour (0 = disabled)

Start hour for Tuesday to Friday.

Weekday Stop Hour (0 = disabled)

Stop hour for all weekdays.

Friday Stop Hour (0 = disabled)

Friday’s often are important news published that might cause high slippage. Therefore set it to zero if you prefer to avoid such a risk.

December Stop Day (0 = disabled)

In December the prices might become more and more erratic as the trading activities are fading for the end of year close. This causes poor liquidity in the market.

January Start Day (0 = disabled)

In the beginning of January, many traders are still on vacations that results the same like in December. Therefore, it’s better to start trading after the 2nd week of January.

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“[_____ MISCELLANEOUS _____]”

Display Panel in visual Tester Mode

If enabled, the Onscreen Panel becomes displayed in visual tester mode with all its functionality including operability of the buttons.

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