ElementalTrader EA Install: Download and save ElementalTrader EA installer file to computer desktop. Double click the installer file to open ElementalTrader EA Setup Wizard > Click Next to begin the setup process. Be sure all MT4 terminals are closed before installing the software. Choose the local hard drive to search for Metatrader platforms that are installed on the computer > click Next (This process may take a few minutes) If there are multiple MT4 terminals on your computer, select all or specific terminals to install the ElementalTrader EA > click Next.
Set the Destination Location folder to install the ElementalTrader EA (for a typical installation choose the default location > click Next. Confirm the EA installation location on the next window > click Install. Click Finish to close the set up wizard. Attaching the ElementalTrader EA to a chart: Open the MT4 terminal. Be sure to turn on Expert Advisors at the top of the chart window. (There should be a green circle next to Expert Advisors as seen below)
Open the Navigator window and expand the Expert Advisors Tree. (Click the + symbol) To apply the ElementalTrader EA to the chart, drag the ElementalTrader EA to the desired chart OR right click on ElementalTrader EA and select Attach to Chart. When prompted, enter the Username and Password that you were provided to complete the ElementalTrader EA Authorization > click OK. Elemental Trader EA Properties Window: Common Tab: On the Common tab, place a check mark in each of the left side check boxes and uncheck all of the right side boxes as shown below. Note: To set this as the default, go to the top of the MT4 terminal, go to Tools and open the Options window. Select the Expert Advisors tab and check all of the left side boxes and uncheck all of the right side boxes. Then click OK to apply these settings.
Inputs Tab: Default Settings: When finished adjusting the EA variables click OK to apply the ElementalTrader EA to the chart to begin active trading. Explanation of Variables: AutoTradeMode (true/false) When set to true, the ElementalTrader EA will enter, manage and exit trades automatically according to the preset entry variables. When set to false, the ElementalTrader EA will NOT trade automatically. ShowIndicator (true/false) When set to true the ElementalTrader EA will show all current patterns on the chart. When set to false the patterns will be hidden. BatPattern (true/false) When set to true the ElementalTrader EA will trade all new Bat Patterns. When set to false it will ignore new Bat Patterns. CrabPattern (true/false) When set to true the ElementalTrader EA will trade all new Crab Patterns. When set to false it will ignore new Crab Patterns.
GartleyPattern (true/false) When set to true the ElementalTrader EA will trade all new Gartley Patterns. When set to false it will ignore new Gartley Patterns. ButterflyPattern (true/false) When set to true the ElementalTrader EA will trade all new Butterfly Patterns. When set to false it will ignore new Butterfly Patterns. comment1 TPMode-1-BasedOnBpoint, 2-BasedOnEntry (this is only for explanation of the following variable) TPMode (1/2) When set as TPMode-1; the take profit level will be based on the B point of the traded pattern and the TargetProfitPips value. When set as TPMode-2; the take profit level will be based on the trade entry price and the TargetProfitPips value. TargetProfitPips (# value of pips) The number of pips that the take profit will be set from TPMode-1 or TPMode-2. If the desired target for profit is exactly at the B point using TPmode-1 this should be set as zero. StopBasedOnPRZ (true/false) When set to true the stop loss will be set above/below the PRZ based on the value set in the StopPips variable. When set to false the stop loss will be set based on the StopPips variable above/below the entry price. StopPips (# value of pips) The number of pips that the stop loss will be set from either the PRZ or the entry price as selected in the StopBasedOnPRZ variable. MultiEntry (true/false) When set to true allows the ElementalTrader EA to enter multiple trades at the pre set levels within the PRZ, assuming that the set take profit levels have not been achieved. When set to false only one entry will be made at the first pre set level within the PRZ. Entry1InPercentOfPRZ (# value of %) The distance within the PRZ, measured as a percent, that the first entry will be made. Pos1EntrySize (# value of lots to be traded) The default amount of lots that will be used for trade entry at the Entry1InPercentOfPRZ level.
Entry2InPercentOfPRZ (# value of %) The distance within the PRZ, measured as a percent, that the second entry will be made. Pos2EntrySize (# value of lots to be traded) The default amount of lots that will be used for trade entry at the Entry2InPercentOfPRZ level. Enable3rdEntry (true/false) When set to true allows for a third entry within the PRZ. When set to false disables the third entry only. Entry3InPercentOfPRZ (# value of %) The distance within the PRZ, measured as a percent, that the third entry will be made. Pos3EntrySize (# value of lots to be traded) The default amount of lots that will be used for trade entry at the Entry3InPercentOfPRZ level. DisableLevelsOnProfit (true/false) When set to true no new entries within the PRZ will be allowed when the DisableLevelsONProfitPips level has been reached by the first trade entry. When set to false new entries within the PRZ will still be active even if the first trade has seen profit. DisableLevelsONProfitPips (# value of pips) The number of pips profit needed on the first trade entry to disable any new trade entries within the PRZ.