SmartBid EA MT5 (Latest version) - Unlimited

SmartBid EA MT5 Settings Guide

SmartBid EA is an automated trading Expert Advisor designed with a broad set of controls for trade execution, risk management, recovery trading, Stop Loss and Take Profit management, trailing protection, news filtering, trading schedules, and account-level restrictions. The displayed configuration provides detailed control over position sizing, recovery trades, maximum drawdown, profit targets, trading direction, trade timing, and on-chart monitoring.

SmartBid EA MT5 Settings Panel

Safety & Trade Management

🔹 Risk Level = Low — Selects the Low risk profile for the EA’s overall trading and risk-management configuration.

🔹 Custom Balance / Chart (0 = Account balance) = 0.0 — Uses 0.0, meaning the EA uses the actual account balance rather than a manually specified custom balance.

🔹 Dynamic Balance (true = Custom balance will grow with profit) = false — Disables Dynamic Balance, so the custom balance does not automatically increase based on trading profits.

🔹 Hard Stop % only EA trades (0 = Disabled) = 0.0 — Disables the EA-trade-only Hard Stop percentage because the value is 0.0.

🔹 Max Spread in points (0 = Auto, -1 = Disabled) = 0 — Sets the maximum spread parameter to 0, which means the EA uses its automatic spread setting according to the parameter description.

🔹 Max Recovery Trades / Chart (0 = Disable recovery) = 10 — Allows up to 10 recovery trades per chart under the configured recovery-trading system.

🔹 Min Price distance between Recovery Trades (0 = Auto) = 0 — Sets the minimum price distance between recovery trades to 0, allowing the EA to use its automatic distance calculation.

🔹 Trailing Stop Loss in points (0 = Disabled) = 0 — Disables the fixed trailing Stop Loss because the value is 0.

🔹 Number of trades to Trail (0 = All, oldest x only) = 0 — Uses 0, meaning the trailing-trade selection is configured to apply to all trades when trailing is enabled.

🔹 Take Profit in points (0 = Disabled) = 0.0 — Disables the fixed Take Profit in points because the value is 0.0.

🔹 Stop Loss in points (0 = Disabled) = 0.0 — Disables the fixed Stop Loss in points because the value is 0.0.

🔹 Break Even in account currency (0 = Disabled, can be negative) = 0.0 — Disables the account-currency Break Even function because the value is 0.0.

🔹 Max Drawdown per Trade (0 = Disable, % of Balance) = 0.0 — Disables the per-trade maximum drawdown percentage because the value is 0.0.

🔹 Hard stop percentage account wide (0 = Disabled) = 0.0 — Disables the account-wide percentage Hard Stop because the value is 0.0.

🔹 Global Take Profit for all trades in account (0 = Disabled) = 0.0 — Disables the global account-level Take Profit because the value is 0.0.

🔹 One entry across all charts at the exact same time = false — Disables the restriction that would allow only one simultaneous entry across all charts.

🔹 Max Open Trades across account (0 = No limit) = 0 — Sets the maximum open-trade limit to 0, which means there is no account-wide maximum limit according to the parameter description.

News Filters

🔹 Manual News Time 1 (format: “HH”, empty = Disabled) = [Blank] — No first manual news time is specified, so this manual news event is disabled.

🔹 Manual News Time 2 (format: “HH”, empty = Disabled) = [Blank] — No second manual news time is specified, so this manual news event is disabled.

🔹 Block Trades during Low-impact news = false — Allows trading during low-impact economic news because the low-impact news block is disabled.

🔹 Block Trades during Medium-impact news = false — Allows trading during medium-impact economic news because the medium-impact news block is disabled.

🔹 Block Trades during High-impact news = false — Allows trading during high-impact economic news because the high-impact news block is disabled.

🔹 Minutes before/after news to pause trading (0 = no buffer) = 60 — Sets the news protection buffer to 60 minutes before and after a qualifying news event when the corresponding news filter is enabled.

Trading Schedule – Define Active Hours by Day

🔹 Monday = [Blank] — No specific Monday trading schedule is entered; the parameter description indicates that an empty value means trading all day.

🔹 Tuesday = [Blank] — No specific Tuesday trading schedule is entered; an empty value means trading all day according to the displayed parameter description.

🔹 Wednesday = [Blank] — No specific Wednesday trading schedule is entered; an empty value means trading all day according to the displayed parameter description.

🔹 Thursday = [Blank] — No specific Thursday trading schedule is entered; an empty value means trading all day according to the displayed parameter description.

🔹 Friday = [Blank] — No specific Friday trading schedule is entered; an empty value means trading all day according to the displayed parameter description.

🔹 Hour to stop trading on Fridays (0 = disabled, 20 = stop at 20) = 0 — Sets the Friday trading-stop hour to 0, meaning the Friday stop-hour feature is disabled.

General & Utility Settings

🔹 TP / SL / Trailing Type = Virtual — Selects Virtual management for the EA’s Take Profit, Stop Loss, and trailing functionality.

🔹 Account Type = Standard — Sets the account type to Standard.

🔹 Disable margin limit check (true = no margin limit checks) = false — Keeps the margin-limit check enabled because the setting is false.

🔹 Magic number – Unique ID for EA Trades (can be changed) = 777777 — Assigns 777777 as the unique Magic Number used to identify trades generated by the EA.

🔹 Trade Comment (Empty = SmartBid) = [Blank] — Leaves the trade-comment field empty, so the EA uses SmartBid as the default trade comment according to the parameter description.

🔹 Show panel on chart (false = Hide) = true — Displays the SmartBid EA information panel directly on the trading chart.

🔹 Detailed logs = false — Disables detailed logging, reducing the amount of diagnostic information generated by the EA.

🔹 Pause EA after Hard Stop (no new trades until manually resumed) = false — Disables automatic pausing after a Hard Stop, so the EA is not configured to require manual resumption following such an event.

Advanced Risk & Position Management

🔹 Wait for Better Profit = false — Disables the option for the EA to wait for a better profit level before completing its relevant trade-management action.

🔹 Warning: Advanced Risk – May Lead to Account Loss — This section indicates that the following advanced risk controls can potentially increase account risk depending on how they are configured.

🔹 Auto lot size multiplier (1 = Default, 0.5 = Half, 2 = Double) = 1.0 — Uses the default 1.0 lot-size multiplier, meaning no increase or reduction is applied to the calculated lot size.

🔹 Minimum profit in account currency (0 = Auto) = 0.0 — Sets the minimum account-currency profit requirement to 0.0, allowing the EA to use its automatic calculation.

🔹 Trade direction (Both) = Both — Allows the EA to trade in Both directions, meaning Buy and Sell trades are permitted.

🔹 Fixed Lot size (0 = Auto) = 0.0 — Sets the fixed lot size to 0.0, meaning the EA uses automatic lot calculation rather than a manually fixed lot size.

🔹 Fixed Lot size based on % of deposit (0 = Disabled) = 0.0 — Disables fixed lot sizing based on a percentage of the deposit because the value is 0.0.

🔹 Min profit for recovery pairs (0 = Disable or $$$) = 0.0 — Sets the minimum profit required for recovery pairs to 0.0, effectively disabling a specific minimum-profit threshold for this function.

🔹 Maximum trade delay (Seconds) (0 = Disabled) = 0.0 — Disables the maximum trade-delay restriction because the value is 0.0 seconds.

🔹 Minimum Trade Hold Time (Minutes) (0 = Disabled) = 0.0 — Disables the minimum trade-holding-time requirement because the value is 0.0 minutes.

🔹 Allow Higher Account Balance (true = no limit) = false — Does not enable unlimited higher-account-balance handling; the setting remains false.

Key Features of This SmartBid EA MT5 Configuration

🔹 Low Risk Profile — The EA is configured with Risk Level = Low.

🔹 Recovery Trading — Up to 10 recovery trades per chart are permitted under the current configuration.

🔹 Virtual Trade Management — TP / SL / Trailing Type = Virtual selects virtual management instead of the standard fixed-point method.

🔹 Both-Way Trading — Trade Direction = Both allows the EA to operate with both Buy and Sell trades.

🔹 Automatic Lot Calculation — Fixed Lot size = 0.0 and Auto lot size multiplier = 1.0 leave the configuration centered on automatic sizing.

🔹 News Protection Available — The news buffer is configured at 60 minutes, although all three Low-, Medium-, and High-impact blocking switches are currently false.

🔹 Flexible Trading Schedule — Monday through Friday schedule fields are blank, which according to the displayed descriptions means trading all day.

🔹 Chart Information Panel — Show panel on chart = true keeps the SmartBid status panel visible.

🔹 Unique Trade Identification — Magic number = 777777 identifies the EA’s trades.

Conclusion

The displayed SmartBid EA MT5 configuration provides a comprehensive framework for automated trading with controls covering recovery trades, virtual SL/TP management, news filtering, trading schedules, account-level protection, position sizing, and trade identification.

The current profile uses Risk Level = Low, Max Recovery Trades = 10, Trade Direction = Both, TP / SL / Trailing Type = Virtual, and Magic Number = 777777. Most fixed-point risk controls are currently disabled with values of 0 or 0.0, including Take Profit, Stop Loss, Break Even, maximum drawdown per trade, and the account-wide Hard Stop.

The news section is configured with a 60-minute before/after buffer, but Low-, Medium-, and High-impact news blocking are all set to false. The Monday-Friday trading schedule fields are blank, while the Friday stop hour is 0, indicating that the dedicated Friday stop feature is disabled.

For position sizing, the Auto lot size multiplier = 1.0, Fixed Lot size = 0.0, and Fixed Lot size based on % of deposit = 0.0 indicate that the configuration does not specify a fixed lot value. The EA also uses Standard account type and keeps the margin-limit check active.

Because the settings include recovery trading and advanced risk-management controls, traders should carefully test the configuration under their intended broker, symbol, spread, leverage, and account conditions before using it on a live account.