🔢 OilVector X EA MT5 – Complete Settings & Parameters Guide
OilVector X EA MT5 is a configurable MetaTrader 5 Expert Advisor built with a portfolio-oriented structure for automated trading. Its settings provide control over portfolio lot sizing, risk allocation, prop-firm protection, trade randomization, broker timing, end-of-day order management, and dashboard visualization.
The configuration shown below uses Fixed Lots, a 0.01 lot position size, 1.0% equity risk per strategy, and several prop-firm protection thresholds. It also includes optional randomization controls for entry, Stop Loss, and Take Profit placement, although all three randomization switches are currently disabled.
🔄 General Settings
🔹 Base Order Comment = OilVectorX — Sets OilVectorX as the base comment attached to orders generated by the EA, helping identify its trades.
🔹 Magic Number = 107000 — Uses 107000 as the EA's unique Magic Number for identifying and managing its positions.
🔄 Dashboard Settings
🔹 Show dashboard panel on chart = true — Enables the OilVector X dashboard on the MT5 chart.
🔹 Show/update dashboard during backtesting (slows tester) = false — Disables dashboard updates during backtesting to avoid the additional processing overhead that can slow the Strategy Tester.
🔄 Portfolio Lot Sizing
🔹 Portfolio lot mode = Fixed Lots — Selects Fixed Lots as the portfolio position-sizing method.
🔹 [FIXED] Lot size for all strategies = 0.01 — Sets the fixed position size to 0.01 lots for all strategies when Fixed Lots mode is active.
🔹 [RISK] % of equity to risk per trade per strategy = 1.0 — Defines 1.0% of equity as the risk reference per trade for each strategy when the corresponding risk-based sizing mode is used.
🔄 Prop Firm Settings
🔹 Enable prop firm safety checks = false — Disables the EA's prop-firm safety-check system in the displayed configuration.
🔹 Set true once to clear all saved prop firm state = false — Remains disabled; changing this to true would be used to clear saved prop-firm state according to the parameter description.
🔹 Max daily loss % of balance (0 = disabled) = 4.0 — Sets the maximum daily loss threshold to 4.0% of balance; the parameter description specifies that 0 = disabled.
🔹 Max total loss % from EA start balance (0 = disabled) = 8.0 — Sets the maximum cumulative loss threshold to 8.0% from the EA start balance; 0 = disabled.
🔹 Stop trading day after profit % reached (0 = disabled) = 0.0 — Sets the daily profit threshold to 0.0%, meaning this particular stop-trading-after-profit condition is disabled because 0 = disabled.
🔹 Randomize SL placement by +/- PropRandSLPips = false — Disables randomization of the Stop Loss placement around its normal calculated level.
🔹 Randomize TP placement by +/- PropRandTPPips = false — Disables randomization of the Take Profit placement around its normal calculated level.
🔹 Randomize entry price by +/- PropRandEntryPips = false — Disables randomization of the trade entry price.
🔹 Max entry randomization in pips = 2.0 — Defines a maximum entry-price randomization range of 2.0 pips if entry randomization is enabled.
🔹 Max SL randomization in pips = 3.0 — Defines a maximum Stop Loss randomization range of 3.0 pips if SL randomization is enabled.
🔹 Max TP randomization in pips = 3.0 — Defines a maximum Take Profit randomization range of 3.0 pips if TP randomization is enabled.
🔄 Shared Timing Settings
🔹 Broker UTC Offset (hours) = 2 — Sets the broker's time offset to UTC+2 for the EA's shared timing calculations.
🔹 EOD Cancel Time (HH:MM) = 21:00 — Sets the end-of-day cancellation time to 21:00 according to the EA's configured broker-time framework.
🔹 New Day Order Time (HH:MM) = 00:15 — Sets the new trading day's order time to 00:15.
🔹 Friday trades Thursday's completed range like any other weekday = false — Disables the option for Friday to treat Thursday's completed trading range exactly like a normal weekday.
🔢 OilVector X EA MT5 – Configuration Summary
🔹 Base Order Comment: OilVectorX
🔹 Magic Number: 107000
🔹 Dashboard: true
🔹 Dashboard During Backtesting: false
🔹 Portfolio Lot Mode: Fixed Lots
🔹 Fixed Lot Size: 0.01
🔹 Risk Reference Per Strategy: 1.0% of equity
🔹 Prop Firm Safety Checks: false
🔹 Clear Saved Prop-Firm State: false
🔹 Maximum Daily Loss: 4.0%
🔹 Maximum Total Loss: 8.0%
🔹 Stop Trading After Daily Profit: 0.0% = Disabled
🔹 Randomize SL: false
🔹 Randomize TP: false
🔹 Randomize Entry: false
🔹 Maximum Entry Randomization: 2.0 pips
🔹 Maximum SL Randomization: 3.0 pips
🔹 Maximum TP Randomization: 3.0 pips
🔹 Broker UTC Offset: 2 hours
🔹 EOD Cancel Time: 21:00
🔹 New Day Order Time: 00:15
🔹 Friday Thursday-Range Mode: false
🔢 Important Configuration Notes
🔹 The 4.0% and 8.0% drawdown values are entered but Prop Firm Safety Checks are set to false — Therefore, users should verify the EA's actual behavior before assuming these thresholds actively stop trading.
🔹 The 1.0% risk value is not the active sizing method in the displayed setup — Portfolio Lot Mode is currently Fixed Lots, with 0.01 lots selected.
🔹 The randomization limits are inactive in the displayed setup — Entry, SL, and TP randomization are all set to false, despite maximum values of 2.0, 3.0, and 3.0 pips being configured.
🔹 Dashboard backtest display is disabled — This is explicitly configured as false, which can help avoid unnecessary tester overhead.
🔹 Time settings should be verified against the broker server clock — The configuration uses UTC+2, so the actual relationship between broker server time and UTC should be confirmed with the broker.
🔢 Conclusion
OilVector X EA MT5 provides a structured set of controls for portfolio execution, position sizing, risk management, trade randomization, and broker-time synchronization.
The current configuration uses 0.01 fixed lots, Magic Number 107000, and the OilVectorX order comment. It defines 4.0% maximum daily loss and 8.0% maximum total loss, but the prop-firm safety system itself is currently disabled. The optional entry, SL, and TP randomization features are also disabled.
With Broker UTC Offset 2, an EOD Cancel Time of 21:00, and a New Day Order Time of 00:15, timing behavior is clearly defined. The dashboard is enabled for live chart monitoring but disabled during backtesting.
Before using OilVector X EA MT5 with real funds, traders should backtest the exact configuration, verify broker-specific contract specifications and server time, and confirm which risk-protection features are actually active. Past backtest or live performance should not be interpreted as a guarantee of future profitability.
🔢 FAQs
❓ What lot size is currently configured for OilVector X EA MT5?
The current Portfolio Lot Mode is Fixed Lots, with a fixed position size of 0.01 lots.
❓ What are the maximum drawdown settings?
The configuration specifies 4.0% maximum daily loss and 8.0% maximum total loss from EA start balance. However, Prop Firm Safety Checks = false.
❓ Does OilVector X EA MT5 randomize trade entries, SL, or TP?
Not in the displayed configuration. Entry, SL, and TP randomization are all false. Their maximum ranges are 2.0 pips for entry, 3.0 pips for SL, and 3.0 pips for TP.
❓ What are the EA's timing settings?
The broker UTC offset is 2 hours, the EOD Cancel Time is 21:00, and the New Day Order Time is 00:15.
❓ What is the Magic Number of OilVector X EA MT5?
The EA uses Magic Number 107000, while its Base Order Comment is OilVectorX.
