There are no best settings. The EA is a complicated platform for building various strategies (momentum, breakout, mean-reversion) on different markets (forex, futures, stocks, indexes) based on 3 popular models and filters. You can create your own strategy or use my strategies/set-files/profiles.
The current list of my strategies can be found here: https://belkaglazer.com/en/belkaglazer-en/strategies-en
It already contains backtests with 99.9% modeling quality and variable spreads.
My latest set-files (strategies) and backtests can be downloaded here: https://belkaglazer.com/en/download-en
Try to backtest all strategies. I don’t recommend using all of them at once, it’s a bad idea. Choose strategies/presets and create your own portfolio according to your desired value of the profit/risk. You can use the MM calculator to determine MM settings before building a portfolio in QuantAnalizer (this is a software to merge different MT4 reports into a single portfolio). Remember, you need to divide trading risks between presets based on the same strategy.
No one can do this job for you, because everyone has different preferences regarding risk, profit, and strategies.
If you have a little experience, I recommend building a copy of any my portfolio/signal.
The latest configuration of my public signals/portfolios can be found here at any time: https://drive.google.com/file/d/1ZjMJA4tmcB-tvY4wNoM-OvlhmGuMiE7h
The MT4 profiles (it contains screenshots of MT4) here: https://drive.google.com/drive/folders/1qWCnvY-6mPAalvAYqvofqKDOG24W5Oyf
Info on how to install a profile here: https://drive.google.com/file/d/1KaG31tGWJmcbHol6ic5at7RRWzYymmCd
An MT4 profile already contains all charts with each set-file loaded with the correct pair, timeframe, and settings. So you will have the same settings as me.
My set-files/profiles do not use dangerous elements of Money Management!
The default settings of the EA correspond to the ‘Daily_levels‘ set-file. It’s a breakout strategy based on the horizontal support/resistance levels on the D1 timeframe. It’s a slow long-term strategy.
Read more: Recommendations. Criteria for portfolio composition
Read more: Recommendations. Reliable backtest results
Read more: Recommendations. Optimization
The start date and minimal period depend on many factors. In general, a good backtest should contain at least 300-500 trades over 5-10 years. Otherwise, the backtest results do not have statistical significance.
If you wish to run a preset file on another timeframe, you need to adjust a lot of settings.
The ‘NY_CloseTrading‘ is a mean reversion strategy based on the following rules:
1. The price sooner or later reverts to the average value calculated for a certain period.
2. As a rule, the strategy opens a trade during periods of low volatility when the maximum/minimum of the day most likely occurs.
3. The strategy trades with an asset that often cross its average. If the price has not crossed it for a long time (up to ~12 hours), then the position should be closed by a time-stop. As a rule, the position holding time does not exceed 12 hours. Stop loss protects against big losses during strong price movements in one direction.
4. An open position will be closed if the price approaches the average value. So the profit can be both positive and negative. The SL value must not interfere with the closing of a position at an average price and has to withstand Intraday volatility of an asset.
If you use a small stop loss, this may turn a profitable mean reversion strategy into an unprofitable one.
Alpari, AxiTrader, Tickmill, Pepperstone, ICMarkets, Darwin and many others close daily candles at 5 pm New York time (that corresponds to ‘GMT+2’ in winter and ‘GMT+3’ in summer) and give five 24-hour daily candles for every week. If you use such a broker, you need to set the ‘NYCloseBroker’ parameter to ‘true’. In this case, the EA uses daily charts/data directly and does not take into account the GMT_offset/Daylight_Saving_Time parameters.
If the server time of your broker does not correspond to the ‘New York Close’ timezone, it’s necessary to set the ‘NYCloseBroker’ parameter to ‘false’ and adjust the ‘GMT_offset’ and ‘Daylight_Saving_Time’ parameters according to your broker’s time zone. In this case, the EA recalculates daily charts and data to get five daily candles per week.