Hello visitor! If you’re here it’s surely because you want to know more about BitDooZER Input Parameters… well, we got you covered! Grab a drink and sit back, because this is going to be a long post, but after you’ve read through it you won’t probably have too many questions about parameters at all. Anyway, in case you do, because some other users may have the same question as you do, please make sure to ask in the “Comments” tab of BitDooZER, so that everybody can benefit from the answer. No answers will be provided by private message. Thank you and… happy reading!
Magic number: Default value “75040388“. Unique identificator of the EA. This ID should be different from any other ID used by any other Expert Advisor that you’re already using in the same Metatrader 4 terminal.
Comment prefix: Default value “bitdoozer“. User prefix for each the trade. It’s placed along some internal comment that BitDooZER places to identify the basket ID and that cannot be removed.
Initial lot size: Default value “0.01“. Initial volume of every new basket. We strongly recommend you keep this at the minimum volume for the basket opening, which should be a minilot in the majority of brokers.
Maximum spread (pips): Default value “7.01“. Maximum tolerance for the spread, meaning that if the current spread is above this value, the trade won’t be placed, and instead BitDooZER will wait until the spread is within the threshold. For that reason we do recommend a broker with good spreads. The pips for BTCUSD are somewhat peculiar. In many places you can see that the value of 1 pip is compared to 1 USD, so in other words a spread of 7 pips would be like saying a spread of 7 USD. Pay attention now, because when it comes to converting into points 1 pip in BTCUSD is not equal to 10 points but 100 points. That’s the reason why you might see that your broker has this symbol spread expressed as 500 or 600. That would be like saying 5 pips (500 divided into 100) or 6 pips (600 into 100). To sum this up, the value you put in this parameter in pips should be multiplied by 100 if you want to express it in points, and compare it to your broker spread. The default value of 7.01 pips, therefore, is equivalent to 701 points of spread. Adjust accordingly. To know more about the BTCUSD spread, please visit “Understanding BTCUSD Spread”.
Maximum slippage (pips): Default value “1.01“. Similar to the spread, but for the slippage when your broker is placing the trade, meaning that if the slippage goes above the tolerance (by default 1.01 pips or 101 points – it’s not an error, see “Maximum spread (pips)” for the explanation) the trade won’t be placed and BitDooZER will instead try its luck again a few more times and in the next tick. A true ECN broker would ignore this parameter, but it can be relevant for other brokers. Adjust accordingly.
Preferred trading window: Default value “WEEKEND“. Time window during which BitDooZER is allowed to trade. Due to MQL5 Market policy, BitDooZER will not limit you in any way regarding the symbol you want to trade, timeframe or day. However you can select an option from the list below, and BitDooZER will display a warning if it is outside the time window selected. You can select from the list either of the following options (remember: being outside of the below time windows only displays a warning, and does not limit BitDooZER’s trading in any way!):
- DO_NOT_PAUSE: BitDooZER wil trade non-stop all seven days of the week. Remember, however, that we recommend trading with BitDooZER only during the weekend, due to the lower volatility of the BTCUSD symbol.
- WEEKEND: The default option and our recommendation. BitDooZER will trade only during Saturday and Sunday, and will remain idle from Monday thru Friday.
- WEEKDAYS: The opposite of the previous option. BitDooZER will trade from Monday thru Friday, and will remain idle during Saturday and Sunday, following the ForEx market hours. Remember, however, that we recommend trading with BitDooZER only during the weekend, due to the lower volatility of the BTCUSD symbol.
UI colors theme: Default value “DARK“. Color theme for the current chart. Choose from:
- DARK: An elegant dark combination of black and orange candles and a touch of gold. The values entered in the parameters “Button background (pressed)”, “Status message”, “Positive profit text” and “Negative profit text” will have no effect.
- LIGHT: If you’re into light backgrounds, this is a combination of snow-white and dark orange candles with some details in steel blue. The values entered in the parameters “Button background (pressed)”, “Status message”, “Positive profit text” and “Negative profit text” will have no effect.
CUSTOM: If you prefer to use your own colors, select this option, then pick your colors for the rest of parameters, “Button background (pressed)”, “Status message”, “Positive profit text” and “Negative profit text”.
Button background (pressed): Default value “Tomato“. Color of the UI buttons when they’re active (only applicable when “UI color theme” is set to “CUSTOM”).
Status message: Default value “Gold“. Color of the status/information messages as well as news information below the status messages (only applicable when “UI color theme” is set to “CUSTOM”).
Positive profit text: Default value “LimeGreen“. Color of the floating P/L info panel at the top of the chart when P/L is positive. Also color of the text label above/below a candle when a basket is closed at profit (only applicable when “UI color theme” is set to “CUSTOM”).
Negative profit text: Default value “Tomato“. Color of the floating P/L info panel at the top of the chart when P/L is negative. Also color of the text label above/below a candle when a basket is closed at loss (only applicable when “UI color theme” is set to “CUSTOM”) .