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Regal Spear EA MT4 – Full Input Settings Analysis
Regal Spear EA is an automatic trading robot that is designed for the MetaTrader 4 (MT4) platform after conducting extensive market research for years. It is equipped with the features required to maximize trading performance and minimize risk, including built-in StopLoss and drawdown (DD) settings to provide position safety. The EA also includes an AutoLot feature, dynamically adjusting lots in accordance with the account balance to guarantee safety and efficiency in trading execution.
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Money Management
- AutoLot: true – Automatically scales lot size based on account balance and risk parameters.
- Lots: 0.01 – Default lots when AutoLot is not on or as the minimum lot.
- Risk: 2 – Percentage of capital at risk per trade when AutoLot is on.
- DD: 100.0 – Biggest allowed drawdown as a percentage; 100% has no limit (account potentially fully lost unless managed).
- SafeTrades: yes – Puts safe trading mode on, limiting trade entries to safer conditions.
Trading Parameters
- Visible_TP_SL: false – Hidden SL/TP not visible so broker does not know them.
- AutoTakeProfit: false – Does not set TP automatically; can use manual management or trailing stop instead.
- TakeProfit: 1.8 – Fixed TP (can be 1.8 pips or 18 points depending on broker).
- StopLoss: 15.0 – Fixed SL (15 pips or 150 points).
- TrailingStop: 0.0 – Trailing stop disabled.
- PendingOrders: true – Uses pending orders.
- OrdersMaxNumber: 1 – One open order only at a time.
- MaxSpread: 20 – Opens a trade with the highest spread of 2 pips.
- VirtualSpread: true – Uses virtual spread in calculations to avoid fake signals caused by temporary spikes of spreads.
- Direction: Buy and Sell – Both trade directions.
- CommentOfOrder: ST – Trade comment tag.
- EAversion: 521649 – EA version number.
Time Parameters
- Duration of Positions in Minutes: 115 – Leaves a position open for a maximum of 115 minutes before it is closed.
- WaitForProfit: false – Does not wait for a target profit to close; closes when time limit or other conditions are met.
- EndOfMonthStop: true – Closes trades at the month’s end, typically to avoid news-based volatility.