0
Before you start
Three checks. Tick them as you go.
Words you'll see. ChoCH = change of character, a break in structure. Backtest = running the EA over old prices in the Strategy Tester.
Guide · MetaTrader 5 · about 25 minutes
Set up PFX SLM and PFX SLM EA.Learn the indicator first, then the EA.
PFX SLM draws structure, gaps and liquidity on your chart, and it places no orders. PFX SLM EA uses the same engine to trade for you. Learn the indicator first. Test the EA in the backtester and on a demo account before anything else.
~25 minstart to finish
8 stepstick each one off
Indicatorplaces no orders
EAcan place trades
✓
The indicator can't trade.
Only the EA places trades, and it ships with trading off until you switch it on. If a step doesn't look like the picture, that's normal: open the "Not seeing it?" box under it.
1
Install and attach the indicator
It installs from the MQL5 Market. No Algo Trading switch is needed.
- In MetaTrader 5, open Toolbox → Market, find PFX SLM under Purchased, and press Install.
- Find it in Navigator → Indicators → Market. If it does not appear, right-click Navigator and choose Refresh.
- Drag it onto any chart. Any symbol and any timeframe work.
The indicator is not an Expert Advisor, so Algo Trading does not apply to it.
Not seeing it?
It is not in Navigator. Right-click Navigator and press Refresh. If it still isn't there, check the purchase is listed under Purchased.
2
Set the minimum stop distance
Stops tighter than this are refused, so set it for your symbol.
- Open the inputs and find 3 · Risk → Minimum stop distance (points). It defaults to 20.
- Set it for your symbol. The product guide suggests starting from 100 to 300 points, and says 20 is well under gold's spread on a two-digit quote.
- Press OK, then give it a moment to load. The first attach replays up to 3,000 candles.
Not seeing it?
No signals appear after loading. Check the minimum stop distance is not too strict for this symbol. Step 5 lists the usual causes.
3
Read the Experts report
It tells you which settings are doing nothing.
- Open Toolbox → Experts and read the report the indicator printed when it loaded.
- It names every setting that is doing nothing in your configuration, and says why.
Not seeing it?
The Experts tab is empty. Check the indicator is attached and the chart has loaded. The report prints when it starts.
4
Turn on alerts
Alerts are off by default, so a signal can happen silently.
- Open the inputs and find 8 · Alerts → Fire an alert on every signal. It is off by default. Turn it on.
- Turn on popup and sound as well. With both off, a signal only goes to the Experts log.
- For phone pushes on signals, turn on Fire an alert on every signal and push notification to phone.
Push on take-profit and stop-loss events needs a third switch, and does nothing unless the other two are on.
Not seeing it?
A signal happened and I heard nothing. Check the master switch is on, and popup and sound are on. The Experts log still shows the signal.
5
Know why there may be no signals
The common causes, most likely first.
- Look back for the gap should be at least double your swing sensitivity. The product guide's example is 20 against a swing of 10.
- With Require a ChoCH on, a gap only arms after a structure break. In a range the market is not breaking structure, so that is normal.
- Check that Trade Structure & Liquidity setups is on. Zones and structure still draw when it is off.
Most drawn gaps never become setups, and that is correct. A chart covered in boxes that never fire is working as designed.
Not seeing it?
Signals are only some of the time, and it's fast. Swing sensitivity lower gives faster signals and more noise. It is a trade-off, not a fault.
6
Backtest the EA first
The tester always trades, so this is the safe place to see it work.
- Open the Strategy Tester with Ctrl+R. Pick PFX SLM EA, your symbol and timeframe.
- Set Minimum stop distance (points) for your symbol, then press Start.
- You do not need Enable Trading on for a backtest. The tester trades on its own.
A backtest is a test on past prices. It is not a promise of how the EA will behave on a live account.
Not seeing it?
The tester shows no trades. Check the symbol, timeframe and date range, and that the minimum stop distance is not too strict.
7
Put the EA on a demo chart
Only after the backtest, and only on a demo.
- Use a hedging account. Drag the EA onto the chart.
- In Inputs, set your risk and your prop-firm limits, then set Enable Trading = true. In Common, tick Allow Algo Trading.
- Check the AutoTrading button on the toolbar is green, then read the Experts tab. It prints the session clock and anything blocking trades.
Set Enable Trading to false, or remove the EA from the chart, to stop it. The EA ships with trading off until you switch it on.
Not seeing it?
The Experts tab says trading is blocked. It will say why. Usual causes: AutoTrading is off, or the account is netting rather than hedging.
Your safety nets
Three things to keep in mind.
1
The indicator can't trade
It draws and alerts only, and has no entry or stop to move.
2
Trading is a switch
The EA places trades only when Enable Trading is true and AutoTrading is green.
3
Demo first, every time
Backtest, then demo, then decide. Change one setting at a time.
!
Prop-firm accounts
The EA has risk and session settings for prop-firm limits, but your firm's rules decide what is allowed. Read them before you use the EA on a challenge or funded account.
Risk warning: Trading carries a high risk of loss and is not suitable for everyone. The indicator is technical analysis, not investment advice. A backtest or demo result is not a guide to live results. MetaTrader and MQL5 are trademarks of MetaQuotes Ltd.; PrecisionFX is not affiliated with or endorsed by MetaQuotes.