Sling Shot FX Professional is an automatic Knowledgeable Advisor for MetaTrader 5 that mixes a custom-built buying and selling sign generator with superior cash administration and threat management techniques.
It’s optimized for AUD/USD and XAUUSD (M15) and performs finest on ECN or Uncooked unfold accounts.
Parameter Descriptions
Remark for trades
This notice seems subsequent to each order opened by the EA in your terminal. It’s used to establish trades made by Sling Shot FX Professional, which helps when reviewing buying and selling historical past or working a number of EAs concurrently.
Distinctive Magic Quantity for this EA occasion
Every EA makes use of a “Magic Quantity” to tag its personal trades. Should you’re working multiple occasion of the EA (or completely different robots), use a novel quantity for every to forestall interference between them.
Timeframe for sign era
Defines which chart timeframe the EA makes use of to research worth actions and generate entry indicators. The really useful setting is M15 for balanced accuracy and sign frequency.
Permit opening purchase trades / Permit opening promote trades
These choices allow you to allow or disable lengthy (purchase) or quick (promote) trades individually. It’s helpful if you wish to limit buying and selling course primarily based in your market bias.
Lot calculation methodology
Determines how the lot measurement of every place is calculated. You need to use a set lot measurement, or let the EA routinely calculate it primarily based on a proportion of your stability or fairness.
Danger per commerce in p.c (if utilizing auto lot)
Defines the share of your account stability (or fairness) that the EA will threat per commerce when utilizing automated lot sizing. For instance, 3% threat means the EA will measurement every commerce so a full cease loss equals 3% of your capital.
Fastened lot measurement (if mode is Fixed_Lot)
Should you desire to not use dynamic lot sizing, you’ll be able to specify a set quantity for all trades right here.
Allow Restoration Mode after loss?
Activates the EA’s restoration system, which will increase the subsequent commerce’s measurement after a loss to assist recuperate drawdown extra effectively.
Lot measurement multiplier for restoration commerce
Specifies how a lot bigger the restoration commerce needs to be in comparison with the unique. For instance, 3 means the subsequent commerce will use three occasions the earlier lot measurement.
Most lot measurement restrict for restoration
Units a security restrict on the utmost lot the EA can use throughout restoration mode, stopping overexposure in excessive conditions.
Just one restoration commerce after a loss
If enabled, the restoration mechanism will activate solely as soon as after a dropping commerce, then reset to regular buying and selling conduct.
Allow Grasp Drawdown Cease?
Prompts a world safety system that halts all buying and selling if a predefined drawdown restrict is reached.
Max Fairness DD P.c to cease all buying and selling
Specifies the utmost fairness drawdown (in %) that may set off a full cease of the EA’s buying and selling exercise.
Allow Each day Revenue/Loss limits?
When enabled, the EA displays day by day revenue and loss. As soon as both restrict is reached, buying and selling will pause for the remainder of the day.
Each day revenue goal in p.c of stability / Each day loss restrict in p.c of stability
Set how a lot day by day revenue or loss (as a % of your stability) ought to set off a buying and selling cease.
Shut open trades when day by day purpose/restrict is hit?
If turned on, the EA can even shut all open trades instantly when the day by day goal or loss threshold is reached.
Allow buying and selling solely inside a selected time window?
Restricts buying and selling exercise to sure hours in the course of the day. Helpful for avoiding low-liquidity classes or high-volatility occasions.
Buying and selling begin / finish hour (dealer server time)
Units the precise buying and selling window in dealer server time. The EA will solely commerce between these hours.
Calculation mode for Cease Loss and Take Revenue
Choose whether or not to make use of fixed-point SL/TP values or ATR-based dynamic ones. ATR-based ranges regulate routinely to market volatility.
Take Revenue in factors / Cease Loss in factors
Fastened-distance TP and SL values. Cease loss measurement is particularly necessary for correct lot sizing when threat % is used.
Timeframe for ATR indicator calculation / Interval for ATR indicator
These settings management how the EA calculates volatility when utilizing ATR-based cease loss and take revenue.
ATR multiplier for Take Revenue / Cease Loss
Defines what number of occasions the ATR worth is multiplied to find out your dynamic TP/SL distances.
Distance from present worth to put pending order (factors)
Determines how removed from the present worth pending orders are positioned. Bigger values imply extra conservative entries.
Max allowed unfold in factors / Max allowed slippage in factors
Protecting filters that stop trades from being opened during times of excessive unfold or giant execution slippage.
Allow/Disable Trailing Cease (strikes SL)
Prompts automated trailing cease motion. As soon as a commerce strikes into revenue, the cease loss will observe on the outlined distance.
Trailing Cease distance in factors
Specifies how far behind the present worth the cease loss ought to path.
Pips in PROFIT to activate Trailing TP (0 = OFF)
The revenue threshold (in factors) that prompts trailing take revenue.
Trailing TP distance in factors
The space in factors between present worth and trailing TP as soon as it prompts.
Pips in LOSS to activate Restoration TP (0 = OFF)
Specifies how far into loss the commerce can go earlier than activating restoration take revenue logic.
Restoration TP distance in factors
Distance for the restoration take revenue mechanism as soon as triggered.
Interval / Deviation / Distance for the indicator
These are inner parameters for the EA’s {custom} indicator, which helps it detect commerce alternatives. The interval and deviation have an effect on sign frequency; the gap units how far worth should transfer from the indicator earlier than a commerce triggers.
Present Data Panel / Present On-Chart Warnings
Shows the EA’s dwell efficiency information and any warnings (like unfold or drawdown alerts) instantly on the chart.
Font measurement / Textual content shade / Panel nook / Commerce historical past days
Customise how the on-chart panel seems to be: textual content measurement, shade, nook place, and what number of days of buying and selling historical past are proven.
Optimization criterion (1=goodness, 2=magic formulation)
Used just for backtesting and optimization. Determines which efficiency metric the technique tester prioritizes when trying to find the very best settings.
Advisable Setup
- Pair: AUD/USD, XAUUSD
- Timeframe: M15
- Minimal deposit: 200 USD
- Account kind: ECN or Uncooked unfold
- Leverage: 1:100 or larger
Advisable .set file:
- Base threat: 5%
- One-time restoration disabled
- Optimized for AUD/USD M15
SlingShotFXPro_AUDUSD_Recovery.set
- Base threat: 5%
- Restoration multiplier: 5×
- One-time restoration enabled
- Optimized for AUD/USD M15
SlingShotFXPro_XAUUSD_Recovery.set
- Base threat: 5%
- Restoration multiplier: 5×
- One-time restoration enabled
- Optimized for XAUUSD M15
This setup is tuned for sturdy, managed efficiency. Whereas restoration mode will increase lot measurement aggressively, the technique’s inner filters make consecutive losses statistically uncommon.
Advisable Brokers for Utilizing the EA
For the very best buying and selling circumstances and optimum efficiency of the SlingShot Fx Professional, I like to recommend utilizing XM.
As well as, XM gives:
- Low spreads and no commissions, guaranteeing cost-efficient buying and selling
- Quick order execution, ideally suited for automated techniques
- Dependable buyer assist with multilingual help
- Fast and hassle-free deposits and withdrawals
- Help for MetaTrader 4 and 5 platforms
These circumstances make XM a superb alternative to attain the very best outcomes with the SlingShot Fx Professional EA.
XMGlobal for European Shoppers with buying and selling leverage 1:500
That stated, this EA ought to work nicely with different brokers too.
Greatest Practices
- At all times begin on a demo account to confirm dealer circumstances.
- Keep away from buying and selling throughout main information occasions.
- Use a dependable VPS for uninterrupted operation.
In case you have any questions or want additional help, please do not hesitate to succeed in out. You could find our contact data right here. We’re at all times joyful to assist!
Profitable buying and selling!
