Magic Champ

Instructions for Installation and Application of the Expert Advisor Magic-Champ II Version 1.
6 (Basic & Pro)

Congratulations to the purchase of this Expert Advisor. Following you will find all necessary information in order to successfully install and activate the EA on your trading account. Please always note the terms and conditions http://www.metatrader-experts.de/en/terms-a-conditions.html and the safety instructions http://www.metatrader-experts.de/en/safety-instructions.html You trade this system on your own responsibility and risk. Good luck! Before you follow steps 1,2 and 3, close your MetaTrader!
1.
Installation of the CodeMeter-Software & the according Activation File
As the first step you will need the software CodeMeter from the company WIBU-SYSTEMS AG. This free software is necessary in order for MetaTrader to be able to read the encrypted DLL file delivered to you. The instructions for the installation of CodeMeter and the application of the according activation file (Activation*.WibuCmRaU) can be found on our Website. http://www.metatrader-experts.de/en/installation-dll.html
2.
Installation MC_II_V16.dll
The EA is secured by an encrypted DLL and only works with the provided version MC_II_V16.dll. Please copy the DLL in the folder MetaTrader/experts/libraries. WARNING: The MC_II_V16.dll must be copied into the folder MetaTrader/experts/libraries WARNING: Please ensure that no other versions of MC_II_V16.dll are enclosed in any of the MetaTrader subfolders! Please delete all older versions of MC-II DLLs if available. WARNING: The MC-II_V16.dll must be named exactly as delivered to you and the file name may not be altered (e.g. when downloading the file it sometimes may happen that the file name is changed to MC-II_V16(1).dll)
3.
Installation Magic_Champ_II_DLL_V1.6_xx.ex4
The Magic_Champ_II_DLL_V1.6_xx.ex4 must be copied into the folder MetaTrader/experts. Depending on the actual version of the MC-II EA the file name may deviate from the one mentioned in this manual (e.g. Magic_Champ_II_DLL_V1.6_04_xx.ex4). WARNING: The *.ex4-file must be copied into the folder MetaTrader/experts. WARNING: Please ensure that no other versions of Magic_Champ*.ex4 enclosed in any of the MetaTrader subfolders! Please delete all older versions of Magic-Champ*.ex4 if available.
ForexInnovation GmbH betreibt die Anlage- und Abschlussvermittlung als gebundener Agent im Sinne des 2 Abs. 10 Satz 1 KWG ausschlielich im Auftrage und unter der Haftung der HPM - Hanseatisches Portfoliomanagement GmbH, Fhrhausstrasse 8, 22085 Hamburg. ForexInnovation GmbH c/o Alexander Klingelhfer Gustav-Leo-Strae 5 20249 Hamburg Deutschland Geschftsfhrer: Alexander Klingelhfer Thomas Rosenkranz Andreas Vietrich www.metatrader-experts.de info@metatrader-experts.de +49 (0) 151 50 72 10 - 02/03/04 Ust-IdNr. DE 269769344 Postbank Hannover KtNr 11031309 Blz 25010030 IBAN DE44250100300011031309 BIC PBNKDEFF
4.
DLL Activation in MetaTrader
When you start MetaTrader for the first time or have not allowed the global use of DLLs by MetaTrader, you have to proceed as described on the following two images in order to allow the use of DLLs through MetaTrader. If you do not want this, you may also adjust the settings upon each activation of the EA. But you must not forget it, or the EA will not execute any trades.
5.
Deactivate Confirm DLL function calls
In the global (common) settings you must uncheck the box for the safety setting Confirm DLL function calls!If you do not, Magic-Champ II will not trade!
6.
MetaTrader Data Preparation
Important prior to the activation of the MC-II on the chart: In order for the EA to have enough data available for initial calculation, you must activate every time level (M1 M5 M15 M30 H1 H4) for once and wait until the data in the chart has been loaded and can be seen. Magic-Champ II is applicable for EUR/USD and GBP/USD. Therefore you have to load the data for both of these currency pairs!
As soon as the data is completely visible on the chart you can activate the next timeframe. If some trading data is missing, you will receive a warning notice, indicating in which specific timeframe the data is insufficient. In this case please remove the EA from the chart, activate the affected timeframe and then reenable the EA. If you wish to run the EA 24/7/365 without interruption, you must complete the data activation only once before the first start of the EA.
7.
Activation of Magic-Champ II
If you have completed all the steps correctly, you can drag the EA onto the chart and should see a menu as shown in the picture below.
Magic-Champ II is solely working with the currency pairs EUR/USD and GBP/USD. If you wish to enable the EA on both currency pairs you have to activate it on both currency pairs accordingly. Subsequently you are able to adjust the in the following described parameters individually.
8.
Parameter settings for the Magic-Champ II EA
After you have dragged the EA on the chart, a window appears where you can adjust your trading variables. The following is a description of each variable.
General Variables BASIC & PRO language language = 1 the information text on the chart will be in German language language = 2 the information text on the chart will be in English language MAGICNUMBER The MAGIC NUMBER in 99% of the cases is not relevant. You need this only if you trade with more than one EA. A distinction is then usually necessary by the MAGIC NUMBER. The MC-II has by default 946 137 412. longAllowed longAllowed = true the EA will execute LONG trades longAllowed = false the EA will not execute any LONG trades shortAllowed shortAllowed = true the EA will execute SHORT trades shortAllowed = false the EA will not execute any SHORT trades
BASIC & PRO
BASIC & PRO
BASIC & PRO
In the PRO Version the Magic-Champ II offers three different Money-Management variants! In the BASIC Version only the Fixed Fractional Money Management (without Adaptive option) is available!
MM1: Fixed Fractional Money Management (FFM) BASIC & PRO MoneyManagement_Variant = 1 if you set the variable MoneyManagement_Variant to 1. The EA will then risk a fixed percentage of your current account balance per trade (open gains / losses from current trades are not taken into account, it is calculated from the actual account balance). The Stoploss of the system is dynamic and can be different for every trade, depending on different scenarios. It is adjusted for each trade so that lot size is a function of the account balance, the SL and the risk. BASIC & PRO
risk_Long_Percent indicates how many % of the current account balance the next trade is risked in Long direction upon reaching the SL risk_Short_Percent indicates how much% of the current account balance the next trade is risked in Short direction upon reaching the SL
BASIC & PRO
Fixed Fractional Money Management (FFM) + adaptive Money-Management (only PRO Version)
Adaptive Money-Management The adaptive MM has been divided into Long and Short. If a long trade is triggered, only the profits generated through long trades are used and divided with the Long-Divider. Profits generated by short trades are accordingly only used for short trades and are not taken into account for Long. If the EA has for example produced 3000 of profits for Long and 1000 losses for short, it will increase the risk of the adaptive Long MM, since the 3000 is used as the basis of profit, whereas for short there is no increase in risk. Before using the adaptive money management please read the detailed description on our website. ONLY PRO
use_Adaptive_MM = true the method of the adaptive money management works only if the method of the FFM (MoneyManagement _Variant 1) was activated. The EA calculates before each trade the theoretical risk of the trade by dividing the accumulated profit by the fixed divider. If the result of this division is greater than the risk that results from the normal application of FFM, that risk is used. The risk per trade may increase significantly through the use of the adaptive money management. use_Adaptive_MM = false the adaptive Money-Management is deactivated
ONLY PRO
Divisor_Long / Divisor_Short The divisor determines by which value the past performance of the system profit is divided by per direction of the trade in order to determine the new fictitious LotSize for the next trade. If the resulting risk is greater than that which results from the use of FFM, that risk is used. We have limited the divisor to a minimum value of 5! If the divider is set to a value less than 5, the system uses 5 as the minimum value and a warning is issued at the start of the EA.
ONLY PRO
Divisor_Long the profit LONG for the currency pair is divided by the Divisor_Long in order to compare the resulting risk for the next Long-trade against the value from the FFM Divisor_Short the profit LONG for the currency pair is divided by the Divisor_Short in order to compare the resulting risk for the next Long-trade against the value from the FFM
ONLY PRO
In the following you will find an example of the adaptive MM and an image as it appears on the chart. Example for the adaptive MM Starting balance 10.000 // 3% risk per trade // Teiler_Long 8 Current Account Balance 16,000 = 6,000 profit (5,000 profits Long & 1.000 Short profits) Next Trade: Risk 1 due to FFM = 16,000 x 3% = 480 Risk 2 because of the adaptive MM = Profit-Long/Teiler_Long = 5.000 / 8 = 625 >>> the risk 2 due to the adaptive MM Long (625 ) is greater than that of the normal FFM (480 ). The system will therefore risk 625 on the next trade. MM2: ReInvest Money-Management
ONLY PRO
MoneyManagement_Variant = 2 if you set the variable MoneyManagement_Variant to 2, then the EA will initially risk a fixed amount per trade, plus a transfer of previously earned gains or losses. basicRisk_L / basicRisk_S The variable basicRisk_L/S defines the amount in (or your account currency), which is the basis of calculation of the actual risk. Should the EA have not made any gains or losses, the resulting risk for the next trade will correspond to exactly basicRisk_L/S reinvest_PcL / reinvest_PcS reinvest_PcL indicates how many percent of the current profit / loss of all long trades are added to the basicRisk_L in order to determine the risk of the next long trades. If for example always 30% of the total profit / loss should be offset, set reinvest_PcL to 30. reinvest_PcS indicates how many percent of the current profit / loss of all short trades are added to the basicRisk_S in order to determine the risk of the next short trades. If for example, always 30% of the total profit / loss should be offset, set reinvest_PcS to 30. maxRisk_PcL / maxRisk_PcS The variable maxRisk_PcL/S is the maximum allowable risk per trade, based on the current account balance in%. Through the reinvestment of profits, it can happen that for the currency pair the risk for one trading direction is very high. This can be avoided by the variable maxRisk_PcL/S.
ONLY PRO
ONLY PRO
ONLY PRO
ONLY PRO
Based on the long parameter for the reinvestment it will be explained: Der current account balance is 14,000, the maximum risk is limited to 5% (700). The base risk LONG (basicRisk_L) is 200 The base risk SHORT (basicRisk_S) is 400 Thus for LONG 20% of the realized profits / losses are reinvested (reinvest_PcL = 20%). Thus for SHORT 10% of the realized profits / losses are reinvested (reinvest_PcS =10%). The current realized profit for LONG is 2.000 The current realized profit for SHORT is -1.000 The LONG-risk for the next trade calculates to basicRisk_L + reinvest_PcL x Profit(LONG) = 200 + 20% x 2.000 = 600 The SHORT-risk for the next trade calculates to basicRisk_S + reinvest_PcS x Profit(SHORT) = 400 + 10% x -1.000 = 300
MM3: Fixed Lotsize per Trade
ONLY PRO
MoneyManagement Variant = 3 set the variable MoneyManagement_Variant to 3, then the EA will trade a defined lot size per trade. The resulting risk is not considered by the EA, unless it exceeds the limit of the Magic-Champ license! So the risk can therefore be higher than the available capital. Since the SL is dynamic, the risk can vary greatly, depending on how far the SL is located and how high you set the lot size!
ONLY PRO ONLY PRO
lots_Long defines the lot size for the next LONG trade lots_Short defines the lot size for the next SHORT trade
TradeManagement
BASIC & PRO
OrderOpen_withSLTP If you have your account with broker who allows to send the SL and TP together with the order opening, set the variable to true. In case your broker does not allow this (very common for ECN brokers to block this) then please set the variable to false. You can also test this manually with a small position (e.g. 0.01 Lot). If you are unsure then set the variable to false, by which the SL is transmitted to the broker right AFTER the position is opened. However please bear in mind that your order is unprotected for the milliseconds between order open and placing the SL. If the connection to the broker is interrupted in this moment your position is not protected through the SL! Break_After_SL It is possible that the Expert Advisor will immediately after a stop loss calculate a new scenario and would also trade this. If you want to prevent that this scenario will be immediately traded, you can work with the following variable to pause trading: Break_After_SL.
Break_After_SL determines how many minutes the Expert Advisor is waiting after an SL of the overall position before a new scenario will be traded. All scenarios within the next Break_After_SL minutes after a "full SL" will be discarded. Due to the numerous partial sales of the EA, only SL that affect the entire position (= "full SL" to the overall position) will be considered. Should an SL come after a first successful partial sale at a TP level, the (possibly occurring) SL of the remaining part of the position will not be considered by the variable setting.
ONLY PRO
Automation versus manual intervention in the software / trade You can always engage in a position to change and close the trades according to your wishes, or with partial sales (if your broker allows it). In order for the EA, however, to respond accordingly, i.e. no against your manual engagement, there are some variables that you need to set in principle in order for the EA to automatically open trades and to administer of SL and / or TP automatically.
Auto_Trade_Open defines if the EA opens a trade in the moment a certain setup occurs. BASIC & PRO Auto_Trade_Open = true the moment of occurrence of a setup the trade is opened automatically in the right direction. The order opening takes place within fractions of a second, you will NOT be asked explicitly in advance. Since the EA is trading 24 hours a day without interruption and is looking for suitable setups, this variant is the only way to realize the full potential of the EA. However, you are free to decide whether you want to use this.
BASIC & PRO
Auto_Trade_Open = false the moment of occurrence of a setup, a message box (as shown in the figure below) appears, allowing you to manually confirm that the trade should be opened. If you press No, or more than 60 seconds have passed, the setup is discarded and no trade is opened. Even if you press Yes, but more than 60 seconds have passed, the trade is not opened. If the price between the start of the query and manual confirmation has changed significantly, also no trade opens.
Auto_SL_Management defines if the stop loss management is executed by the software or if you would like to take over the trade management manually. PRO ONLY Auto_SL_Management = true the stop loss order will be determined automatically by the system at the opening, routed to the broker server. While the trade it is also changed, if the programmed scenario for the change occurs. The whole management is automatic, you do not have to intervene. The trading system was developed on the basis of this SL-management and it is recommended to use this too. Auto_SL_Management = false the SL is routed to the broker at the opening of a position to the level that you have set for SL_AT_Trade_Open_Long / Short. If you have set the SL > 0 and larger than the minimum requirement of your broker, then the EA at the moment of the order opening routes the (your) SL to the broker. You can also use the variable use_Fixed_Fractional_MM = true, because the EA can calculate the risk based on your desired SL-distance from the purchase price. If you use the variable use_Fixed_Fractional_MM = true and simultaneously determine the SL manually but want to set SL_AT_Trade_Open_Long/Short at 0, the EA will issue a warning at the start and not trade. Without SL, the risk cannot be restricted, the variable use_Fixed_Fractional_MM must therefore be set to false with a SL of 0 points (no SL). The EA will with the setting Auto_SL_Management = false not manage the SL during the trade. In certain scenarios, the SL is actually adapted from the system in accordance with clearly defined algorithms. This will not take place if false, you manage yourself the SL manually or with other software. SL_AT_Trade_Open_Long/Short defines the SL in points for Long / Short that is sent in the opening moment of the order to the broker so long as you have set the variable Auto_SL_Management to false, i.e. you would like to manage the SL by yourself. If you adjust SL_AT_Trade_Open_Long/Short to 0, no SL is routed to the broker. Please note that without stop loss a total loss is at risk! The EA can run 24 hours a day, so it is always possible that a position is opened at any time of day or night which then needs to be monitored manually when Auto_SL_Management = false.
PRO ONLY
PRO ONLY
Auto_TP_Management defines whether the TP management is done by the software or if you would like to take over manually. PRO ONLY Auto_TP_Management = true the software will manage the take profit, and depending on the scenario certain positions will be closed at different moments. The whole TP management is fully automatic. You do not need intervene. The trading system was developed on the basis of this TP-management and it is recommended to use this too. Auto_TP_Management = false the programmed algorithm for fully automatic TP management is not used. At the moment the order is opened the TP is sent to the broker that you have set for TP_AT_Trade_Open_Long/Short. TP_AT_Trade_Open_Long/Short specifies in points the TP for Long / Short that is sent in the opening moment of the order to the broker. If you have set Auto_TP_Management to false, there will be no automatic TP administration. If you adjust TP_AT_Trade_Open_Long/Short to 0, no TP is routed to the broker for the opened position. You need to determine when a position is closed! The TP must also meet the minimum requirements of your broker. If the TP is too small, i.e. too close to the opening price, no position can be opened.
PRO ONLY
PRO ONLY
9.
Controlling the EA through Time-Management
You can set the EA to stop automatically at a certain time of day. Stopping the EA has the following effects: 1. Upon reaching lastSignal Time no new trade is generated on this day. Still open positions are managed normally or closed if and more open trades are normally managed, or closed when endTime is reached. 2. Upon reaching the closed endTime ALL of the positions from the EA and corresponding currency pair are closed immediately 3. no new trade is opened until the stop condition is no longer valid 4. This allows you to automatically prevent, for example a trade in a weekend-GAP. Also if you want to close all positions at a certain time of day, e.g. news time, you can do the same.
BASIC & PRO BASIC & PRO BASIC & PRO
use_Time_Management defines if the automatic time management shall be activated use_Time_Management = true automatic time management is activated use_Time_Management = false the EA trades without time limitation. Trades are produced and executed without interruption. use_Local_Time / use_Server_Time These two variables determine whether the timing is taking place on the local computer time or server time of the broker
BASIC & PRO
use_Local_Time = true your local computer time will be the reference. Please check the time! use_Server_Time = true the server time of the broker (see time shift on the chart of the broker) is used as reference
PRO ONLY
the MetaTrader conventions for days is as follows 0 = Sunday / 1 = Monday / 2 = Tuesday / 3 = Wednesday / 4 = Thursday/ 5 = Friday / 6 = Saturday BASIC & PRO BASIC & PRO
startTime_Day defines the day on which the trading may begin in the week startTime_Hour defines the hour at which the trading may begin
Example: startTime_Day = 3 startTime_Hour = 5 trading will start on Wednesday at 05:00 oclock.

The EA will upon reaching the defined end time close all open positions of the according currency pair immediately and will not open any new positions. BASIC & PRO endTime_Day specifies the day on which the EA is stopped. The EA is stopped for the rest of the remaining trading week! On Monday (startTime_Day = 1) then begins the normal trading, unless you set startTime_Day to a different value or disabled use_Time_Management. endTime_Hour defines the hour from which the EA will not trade anymore, as long as endTime_Day and endTime_Minute is reached or exceeded endTime_Minute defines the minute from which the EA does not trade anymore, as long endTime_Day and endTime_Minute is reached or exceeded
BASIC & PRO
BASIC & PRO
If the ending time is reached a notice is displayed on the chart.
End of signal scanning
PRO ONLY
It is possible to limit the scanning for new entry signals before the trading is stopped. In this example no more trades would be opened after Friday 6:30 p.m. even if entry signals would be generated by the EA. All still open trades will be monitored beyond this defined time until reaching the actual endTime and are then closed. But there are no longer trades which are opened right before reaching the end time.
BASIC & PRO
Slippage no trades are opened if the actual slippage is greater than the defined maximum allowed slippage MaxSpread no trades are opened if the actual spread is greater than the MaxSpread value
BASIC & PRO
10.
Please check everything in the tab Experts of your MetaTrader
There must be a confirmation that your account number is known and the license is valid.
If you experience any problems with the software, or if you have any questions, please contact us via or contact form http://www.metatrader-experts.de/en/contact.html Good luck and success with your EA, your team from ForexInnovation

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Instructions for Installation and Application of the Expert Advisor Magic-Champ II Version 1.

6 (Basic & Pro)

Installation of the CodeMeter-Software & the according Activation File

DLL Activation in MetaTrader

Deactivate Confirm DLL function calls

MetaTrader Data Preparation

Parameter settings for the Magic-Champ II EA

BASIC & PRO

BASIC & PRO

BASIC & PRO

BASIC & PRO

MM3: Fixed Lotsize per Trade

ONLY PRO ONLY PRO

BASIC & PRO

BASIC & PRO

Controlling the EA through Time-Management

BASIC & PRO BASIC & PRO BASIC & PRO

BASIC & PRO

Example: startTime_Day = 3 startTime_Hour = 5 trading will start on Wednesday at 05:00 oclock.

BASIC & PRO

BASIC & PRO

If the ending time is reached a notice is displayed on the chart.

End of signal scanning

BASIC & PRO

BASIC & PRO

Please check everything in the tab Experts of your MetaTrader

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