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AXL LITE EA MT4: Complete Settings Guide

AXL LITE EA MT4 is an expert advisor designed to help traders pass prop firm challenges and maintain consistent performance in real accounts. This guide provides detailed information on customizing the EA’s parameters to align with your trading style and risk tolerance. The EA employs advanced algorithms and multiple trading strategies to analyze market trends and execute trades with precision.

You can find more details about the AXL LITE EA MT4 product here.

Detailed Analysis of Input Settings of AXL LITE EA MT4

The parameters of AXL LITE EA MT4 are organized in four functional groups: Global Settings, Time Settings, and three distinct trading strategies (AXL-1, AXL-2, and AXL-3).

AXL Global Settings

Parameter Name	Description	Default Value	Range/Recommended Values	Impact
Lots	Initial lot size for trade entry	0.01	0.01-0.1 (adjust based on account size)	Higher values increase both profit potential and risk
LotExponent	Multiplier for subsequent trade lot sizes in a series	1.5	1.0-1.5 (1.0 disables lot multiplication)	Higher values increase recovery potential but significantly raise risk
MaxLots	Maximum allowed lot size for any trade	5.0	0.5-2.0 for safer operation	Limits risk exposure in drawdown situations
MM	Money Management toggle for dynamic lot calculation	false	false (fixed lots), true (dynamic lots)	When enabled, likely calculates lots based on account balance
TakeProfit	Profit target in pips for closing trades	30.0	10.0-50.0 (depends on pairs traded)	Lower values secure profits quicker but may reduce overall profitability
UseEquityStop	Enables account-level stop loss based on equity	false	true (recommended for protection)	Critical safety feature to prevent excessive losses
TotalEquityRisk	Maximum percentage of equity that can be risked	20.0	5.0-15.0 (conservative)	Lower values provide greater account protection

Time Settings

Parameter Name	Description	Default Value	Range/Recommended Values	Impact
CloseFridayHour	Hour to close all trades before weekend	17	16-18 (server time)	Earlier closures reduce weekend gap exposure
OpenMonday	Toggle for Monday trading	true	true/false based on preference	Disabling prevents trading during potentially volatile Monday opens
OpenMondayHour	Hour to begin trading on Mondays	0	2-6 for more stable conditions	Later hour avoids potential Sunday/Monday volatility

Setting AXL-1 (Hilo Strategy)

Parameter Name	Description	Default Value	Range/Recommended Values	Impact
MaxTrades_Hilo	Maximum number of concurrent trades for this strategy	10	3-5 (conservative), 5-10 (aggressive)	Higher values allow more recovery attempts but increase exposure
UseTrailingStop_Hilo	Enables trailing stop feature for this strategy	false	true to secure profits in trending markets	When enabled, locks in profits as price moves favorably
TrailStart_Hilo	Profit in pips before trailing stop activates	10.0	10.0-20.0	Lower values start trailing sooner, securing profits more aggressively
TrailStop_Hilo	Distance in pips for trailing stop placement	5.0	5.0-15.0	Smaller values follow price more closely but risk earlier exits
PipStep_Hilo	Minimum pip distance between consecutive trades	30.0	30.0-50.0	Larger values reduce trade frequency but improve position spacing
slip_Hilo	Maximum allowed slippage in pips for trade execution	3.0	1.0-3.0	Lower values ensure better execution prices but may prevent some entries
MagicNumber_Hilo	Unique identifier for this strategy’s trades	111111	Any unique 6-digit number	Distinguishes this strategy’s trades from others

Setting AXL-2 (15-Minute Timeframe Strategy)

Parameter Name	Description	Default Value	Range/Recommended Values	Impact
MaxTrades_15	Maximum number of concurrent trades for this strategy	10	3-5 (conservative), 5-10 (aggressive)	Higher values allow more recovery attempts but increase exposure
UseTrailingStop_15	Enables trailing stop feature for this strategy	false	true to secure profits in trending markets	When enabled, locks in profits as price moves favorably
TrailStart_15	Profit in pips before trailing stop activates	10.0	10.0-20.0	Lower values start trailing sooner, securing profits more aggressively
TrailStop_15	Distance in pips for trailing stop placement	5.0	5.0-15.0	Smaller values follow price more closely but risk earlier exits
PipStep_15	Minimum pip distance between consecutive trades	30.0	30.0-50.0	Larger values reduce trade frequency but improve position spacing
slip_15	Maximum allowed slippage in pips for trade execution	3.0	1.0-3.0	Lower values ensure better execution prices but may prevent some entries
G_magic_176_15	Unique identifier for this strategy’s trades	12324	Any unique 6-digit number	Distinguishes this strategy’s trades from others

Setting AXL-3 (16-Strategy)

Parameter Name	Description	Default Value	Range/Recommended Values	Impact
MaxTrades_16	Maximum number of concurrent trades for this strategy	10	3-5 (conservative), 5-10 (aggressive)	Higher values allow more recovery attempts but increase exposure
UseTrailingStop_16	Enables trailing stop feature for this strategy	false	true to secure profits in trending markets	When enabled, locks in profits as price moves favorably
TrailStart_16	Profit in pips before trailing stop activates	10.0	10.0-20.0	Lower values start trailing sooner, securing profits more aggressively
TrailStop_16	Distance in pips for trailing stop placement	5.0	5.0-15.0	Smaller values follow price more closely but risk earlier exits
PipStep_16	Minimum pip distance between consecutive trades	30.0	30.0-50.0	Larger values reduce trade frequency but improve position spacing
slip_16	Maximum allowed slippage in pips for trade execution	3.0	1.0-3.0	Lower values ensure better execution prices but may prevent some entries
G_magic_176_16	Unique identifier for this strategy’s trades	User to define	Any unique 6-digit number	Distinguishes this strategy’s trades from others

Summary and Recommendations

Reduce LotExponent to 1.0-1.2 for safer operation, especially for prop firm challenges.
Enable UseEquityStop and set TotalEquityRisk to 10% maximum when using with prop firms.
Major forex pairs like EURUSD, GBPUSD, and USDJPY are likely most suitable based on the EA design.
Reduce MaxTrades values for all strategies to 3-5 when first testing the EA.
Start with minimal Lots (0.01) and increase gradually only after confirming stable performance.
Set lower PipStep values (40-50) in volatile market conditions to prevent excessive trade stacking.
Consider enabling trailing stops during trending market conditions to secure profits.
Test the EA thoroughly on a demo account for at least one month before live use.
Use a reliable VPS with low latency for best performance.
Avoid running other EAs on the same chart to prevent potential conflicts.
Verify your broker’s pip definition (4 or 5 digits) for proper parameter calibration.
Maintain at least $2000 per 0.01 lot as a conservative safety margin.

Important Risk Warning

Trading forex carries significant risk and past performance of this EA does not guarantee future results. Market conditions change constantly and can dramatically affect EA performance. Users are solely responsible for proper installation, configuration, and risk management of this EA. Always test thoroughly on demo accounts before live trading, and never invest money you cannot afford to lose. The developer of AXL LITE EA MT4 is not responsible for any trading losses incurred through its use.

Forex EA Settings Guides

AXL LITE EA MT4: Complete Settings Guide

AXL LITE EA MT4: Complete Settings Guide