Sling Shot FX Professional is an automatic Professional Advisor for MetaTrader 5 that mixes a custom-built buying and selling sign generator with superior cash administration and threat management methods.
It’s optimized for AUD/USD and XAUUSD (M15) and performs finest on ECN or Uncooked unfold accounts.
Parameter Descriptions
Remark for trades
This word seems subsequent to each order opened by the EA in your terminal. It’s used to determine 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 singular quantity for every to stop 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 advisable 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 based mostly in your market bias.
Lot calculation technique
Determines how the lot dimension of every place is calculated. You should utilize a hard and fast lot dimension, or let the EA routinely calculate it based mostly on a share of your stability or fairness.
Danger per commerce in % (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 dimension every commerce so a full cease loss equals 3% of your capital.
Fastened lot dimension (if mode is Fixed_Lot)
Should you favor to not use dynamic lot sizing, you may specify a hard and fast quantity for all trades right here.
Allow Restoration Mode after loss?
Activates the EA’s restoration system, which will increase the subsequent commerce’s dimension after a loss to assist get well drawdown extra effectively.
Lot dimension multiplier for restoration commerce
Specifies how a lot bigger the restoration commerce must be in comparison with the unique. For instance, 3 means the subsequent commerce will use three occasions the earlier lot dimension.
Most lot dimension 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 shedding commerce, then reset to regular buying and selling habits.
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 % to cease all buying and selling
Specifies the utmost fairness drawdown (in %) that can set off a full cease of the EA’s buying and selling exercise.
Allow Each day Revenue/Loss limits?
When enabled, the EA screens each 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 % of stability / Each day loss restrict in % of stability
Set how a lot each day revenue or loss (as a % of your stability) ought to set off a buying and selling cease.
Shut open trades when each day objective/restrict is hit?
If turned on, the EA may also shut all open trades instantly when the each day goal or loss threshold is reached.
Allow buying and selling solely inside a particular time window?
Restricts buying and selling exercise to sure hours through the day. Helpful for avoiding low-liquidity periods 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 alter routinely to market volatility.
Take Revenue in factors / Cease Loss in factors
Fastened-distance TP and SL values. Cease loss dimension 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 position 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 in periods of excessive unfold or massive 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 gap 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 inside 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 stay efficiency information and any warnings (like unfold or drawdown alerts) straight on the chart.
Font dimension / Textual content shade / Panel nook / Commerce historical past days
Customise how the on-chart panel seems: textual content dimension, shade, nook place, and what number of days of buying and selling historical past are proven.
Optimization criterion (1=goodness, 2=magic method)
Used just for backtesting and optimization. Determines which efficiency metric the technique tester prioritizes when looking for one of the best settings.
Really helpful Setup
- Pair: AUD/USD, XAUUSD
- Timeframe: M15
- Minimal deposit: 200 USD
- Account kind: ECN or Uncooked unfold
- Leverage: 1:100 or larger
Really helpful .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 dimension aggressively, the technique’s inside filters make consecutive losses statistically uncommon.
Really helpful Brokers for Utilizing the EA
For one of the best buying and selling situations and optimum efficiency of the SlingShot Fx Professional, I like to recommend utilizing XM.
As well as, XM offers:
- Low spreads and no commissions, making certain cost-efficient buying and selling
- Quick order execution, best for automated methods
- Dependable buyer help with multilingual help
- Fast and hassle-free deposits and withdrawals
- Assist for MetaTrader 4 and 5 platforms
These situations make XM a wonderful selection to realize the very best outcomes with the SlingShot Fx Professional EA.
XMGlobal for European Purchasers 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 situations.
- Keep away from buying and selling throughout main information occasions.
- Use a dependable VPS for uninterrupted operation.
When you have any questions or want additional help, please do not hesitate to achieve out. You’ll find our contact data right here. We’re all the time glad to assist!
Profitable buying and selling!
