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EA Library

Welcome to our EA Library

Our EA Library page is designed for the experienced trader wanting to automate their trading experience and strap up the true power of the MT4 platform. The use of any of the EA’s included on this website are done so at your own chance. We have studied over 5000 EA’s and below are the superior ones.  It is our experience that all EA’s need manual intervention from time to time. Each EA listed at the bottom of this page has a description of how it works and details for adjusting certain parameters as well. Each EA below is free to download and operate but will only work on the SparenFX MT4 platform. Please explore and use as many as you wish. None of these EA’s were ever sold commercially and were/are only being used by commercial banks and institutional traders.

We have included some text to explain to the reader how to:

Install the EA
Setting Up the EA to Trade
EA Variables
Backtesting and Optimization

Installing the EA

1. Download the EA and save it to your desktop or a place on your computer where you will remember.
2. Extract the files from the .zip file   and navigate to the folder.
3. Select all and copy and paste them into C:\Program Files\SparenFX\experts\ (or the experts folder wherever you decided to install your platform).
4. Start (or restart if already open) your platform.
5. Your EA can now be seen under the Expert Advisors tab in the Navigation pane.

Setting up the EA to Trade

1. Open a chart of your desired currency pair. In this example we will use the EURUSDa (Euro vs. US Dollar on the aggregate feed).
2. On your platform go to File > New Chart > and select EURUSDa.
3. You will now see a 1 hour (H1) chart of the EURUSDa.
4. Double click the EA in the Navigation pane to attach it to the active chart.
5. A dialogue box will come up as seen here:
6. On the common tab (shown above). Make sure the following boxes are checked.
   • Enable alerts
   • Allow live trading
   • Allow DLL imports
   • Allow import of external experts
7. Make sure the remaining boxes are unchecked.
8. The inputs tab will be discussed in the next section.
9. Now click OK. Back in the chart window you will notice the EA name in the upper right hand corner.
10.  If there is an “x” next to the EA name as shown, The EA is disabled.
11. Go to the toolbar of the platform and click the Expert Advisors button.  and you should see a smiley face in the upper right hand corner of the chart now. .
12. The EA is now ready to trade.

EA Variables

1. To get to the variables of the EA select the chart you have the EA attached to and press F7. 
2. This will bring up the following dialogue:
3. The variables are as follows:
   • StopLoss = The number of pips to place a stoploss order below a long trade or above a short trade.
   • TakeProfit = The number of pips to place a limit order above a long trade or below a short trade for profit taking.
   • Trailing Stop = The number of pips to trail the stoploss order at. Note: If set to 0, there will be no trailing stop.
   • VIXPeriod = The number of bars to use in calculating the Synthetic Vix indicator.
   • VIX Timeframe = The chart period you want to use to calculate the VIX. 1 = 1 minute bars, 5 = 5 minute bars, 15 = 15 minute bars, 30 = 30 minute bars, 60 = 1 hour bars, 240 = 4 hour bars, 1440 = Daily bars.
   • High Lookback = The number of bars to look back to find a high VIX reading.
   • Low Lookback = The number of bars to look back to find a low VIX reading.
   • Slippage = The maximum dedviation (in pips) from the quoted price that you will enter the market at.
   • Risk = The percentage of your account margin to use in one trade. 
   • Lots = The number of lots to use if you want to disable money management.
   • MagicNumber = A trade identifier. As long as you set this # to something different than another EA you can use multiple EA’s and this EA will only recognize it’s own trades. Note: We cannot specify what using another programmers EA will do in conjunction with ours. We only know what our own EA’s do.
   • MoneyManagement = Set to true if you want to use the “Risk” variable and set to false if you want to specify your own lot size and enter that in the “lots” variable.

   Backtesting and Optimization

1. On the platforms toolbar click the strategy tester button  to bring up the strategy tester window.
2. Select the EA, Symbol and time frame and under Model use the Every Tick setting.
3. Click the Expert Properties button.
4. This will bring up the inputs tab for the EA.
5. If your purpose is to run a simple backtest then input the desired settings into the Value field as shown.
6. If your purpose is to optimize the settings then input the desired settings into the Start, Step, and Stop fields.
   • Start – The value you would like to begin testing at.
   • Step – The value you would like to increase or decrease the start value each testing run.
   • Stop – The value you’d like to end testing at.

For example, a test run with the following settings:

Start – 10
Step – 5
Stop – 25

Would yield a test run at 10, 15, 20, and 25.

7. Make sure you have the Start, Step and Stop fields as well as the inputs which you would optimize checked.
8. Click the start button on the strategy tester dialogue to begin testing.
9. A balance and equity graph can be seen by clicking the Graph tab.

   

10.  To run an optimization test make sure the optimization button is checked and then click start. The optimized settings and results can be found in the Optimization Results tab.

EA 1 – Click here to download

The SparenFX Challenger EA is a countertrend EA which attempts to identify and trade short term reversals based on the Synthetic VIX indicator. It trades any timeframe and any currency pair. Settings are pair/timeframe dependent and are best found by using the backtesting and optimization features of the SparenFX platform.

EA 2 – Click here to download

The SparenFX Freedom EA is a breakout EA which attempts to catch breakouts during the transition from low volatility to high volatility. It trades any timeframe and any currency pair. Settings are pair/timeframe dependent and are best found by using the backtesting and optimization features of the SparenFX platform.

EA 3 – Click here to download

The SparenFX WAAB EA is a trend following EA which utilizes the Waddah Attar ADX Bollinger indicator and takes trades based a combination of the ADX and Bollinger Bands as defined by the indicator. It trades any timeframe and any currency pair. Settings are pair/timeframe dependent and are best found by using the backtesting and optimization features of the SparenFX platform.

EA 4 – Click here to download

The SparenFX WAE EA is a trend following EA which utilizes the Waddah Attar Explosion indicator and takes trades, with the trend, only during times of relative high volume and volatility. It trades any timeframe and any currency pair. Settings are pair/timeframe dependent and are best found by using the backtesting and optimization features of the SparenFX platform.