EA Diamond is a sophisticated MT4 Expert Advisor that utilizes a multi-dimensional market analysis approach for automated Forex trading on EURUSD, GBPUSD, and USDJPY, GBPUSD, and USDJPY. This guide provides detailed explanations of all input parameters to help you customize the EA according to your trading preferences and risk tolerance. The EA combines market timing, news filtering, and adaptive algorithms to identify and execute trading opportunities while managing risks.
Detailed Analysis of Input Settings of EA Diamond MT4
EA Diamond’s parameters are organized into functional groups: Lot Settings, Trade Settings, News Filter, Time Filter, Days Filter, and Other Settings.
Lot Settings
Parameter Name
Description
Default Value
Range/Recommended Values
Impact
FixedLot
Sets a fixed lot size for all trades when AutoLot is disabled
0.01
0.01-0.1 for $1,000 account
Higher values increase potential profit/loss
AutoLot
Enables automatic lot sizing based on account equity and TradingRisk
true
true for dynamic sizing, false for fixed
When enabled, adapts position size to account growth
MaxLot
Maximum allowed lot size when using AutoLot
100.0
0.5-2.0 for conservative approach
Prevents excessively large positions
MinLot
Minimum allowed lot size when using AutoLot
0.01
0.01 (broker minimum)
Ensures minimum trade size requirements are met
Trade Settings
Parameter Name
Description
Default Value
Range/Recommended Values
Impact
SetLong
Enables or disables long (buy) trades
true
true for bidirectional trading
Limits EA to only short positions if disabled
SetShort
Enables or disables short (sell) trades
true
true for bidirectional trading
Limits EA to only long positions if disabled
TakeProfit
Target profit in pips before closing a trade
10.0
10-30 pips
Higher values may reduce win rate but increase average profit
TradingRisk
Risk percentage of account equity per trade when AutoLot is enabled
1.25
0.5-2% for balanced risk
Higher values increase potential profit/loss per trade
RNDLevel
Controls randomization factor in entry/exit decisions
10.0
5-15 recommended
Higher values increase variability in trade execution
TSLRatio
Multiplier for trailing stop loss distance
2.0
1.5-3.0
Higher values allow more price movement before trailing activates
BasicSL
Initial stop loss in pips
115.0
50-150 pips
Defines maximum loss per trade before TSL activates
TSLevelSL
Enables trailing stop loss based on SL level
true
true for dynamic protection
When enabled, stops follow price at TSLRatio distance
MaxSpread
Maximum allowed spread in pips for opening new trades
1.5
1.0-3.0 depending on pair
Lower values reduce trading frequency but improve entry quality
News Filter Settings
Parameter Name
Description
Default Value
Range/Recommended Values
Impact
UseNewsFilter
Enables or disables the news filter functionality
true
true for reduced news-related volatility
When disabled, EA trades through news events
NewsCalendar
URL for economic calendar data source
https://sselcal2.forexprostools.com
Use default unless source changes
Ensures EA receives current economic news data
NewsCurrency
Currency pairs to monitor for news events
EUR, USD
Match to traded pairs
Filters relevant news for selected currency pairs
DetectLowNews
Enables detection and avoidance of low-impact news
true
true for comprehensive filtering
When enabled, pauses trading around minor news
PauseBeforeLow
Minutes to pause trading before low-impact news
5
5-15 minutes
Longer pauses reduce news-related risk
PauseAfterLow
Minutes to pause trading after low-impact news
10
10-20 minutes
Longer pauses allow market to stabilize
LowNewsColor
Display color for low-impact news on chart
RoyalBlue
User preference
Visual indication only, no performance impact
DetectMiddleNews
Enables detection of medium-impact news
true
true recommended
When enabled, pauses trading around significant news
PauseBeforeMiddle
Minutes to pause trading before medium-impact news
10
10-20 minutes
Longer pauses reduce news-related risk
PauseAfterMiddle
Minutes to pause trading after medium-impact news
15
15-30 minutes
Longer pauses allow market to stabilize
MiddleNewsColor
Display color for medium-impact news
Gold
User preference
Visual indication only, no performance impact
PauseBeforeHigh
Minutes to pause trading before high-impact news
30
30-60 minutes
Longer values provide greater protection from volatility
DetectNFP
Enables detection of Non-Farm Payroll reports
true
true recommended
When enabled, pauses trading around major market-moving event
PauseBeforeNFP
Minutes to pause trading before NFP release
45
45-120 minutes
Longer pauses provide more protection from pre-NFP volatility
PauseAfterNFP
Minutes to pause trading after NFP release
45
45-180 minutes
Longer pauses allow market to stabilize after major news
NFPNewsColor
Display color for NFP news events
DeepPink
User preference
Visual indication only, no performance impact
Time Filter Settings
Parameter Name
Description
Default Value
Range/Recommended Values
Impact
MondayStartHour
Hour to start trading on Mondays
6
1-8 based on timezone
Controls when EA begins operation after weekend
MondayStartMinute
Minute to start trading on Mondays
15
0-59
Fine-tunes Monday start time
StartHour
Hour to start trading Tuesday through Thursday
16
Match to preferred session
Defines beginning of daily trading window
StartMinute
Minute to start trading Tuesday through Thursday
15
0-59
Fine-tunes daily start time
StopHour
Hour to stop trading Tuesday through Thursday
21
Match to preferred session end
Defines end of daily trading window
StopMinute
Minute to stop trading Tuesday through Thursday
11
0-59
Fine-tunes daily end time
FridayStopHour
Hour to stop trading on Fridays
21
Earlier than regular days (17-20)
Reduces exposure to weekend gaps
FridayStopMinute
Minute to stop trading on Fridays
45
0-59
Fine-tunes Friday end time
ServerGMT
GMT offset of the broker’s server
3
Match to broker’s timezone
Ensures time filters operate according to server time
Days Filter Settings
Parameter Name
Description
Default Value
Range/Recommended Values
Impact
TradeMonday
Enables or disables trading on Mondays
true
false for conservative approach
When disabled, avoids Monday volatility
TradeTuesday
Enables or disables trading on Tuesdays
true
true recommended
When disabled, reduces overall trading frequency
TradeWednesday
Enables or disables trading on Wednesdays
true
true recommended
When disabled, reduces overall trading frequency
TradeThursday
Enables or disables trading on Thursdays
true
true recommended
When disabled, reduces overall trading frequency
TradeFriday
Enables or disables trading on Fridays
true
false to avoid weekend exposure
When disabled, eliminates weekend gap risk
Other Settings
Parameter Name
Description
Default Value
Range/Recommended Values
Impact
DrawProfit
Enables or disables profit display on chart
true
true for visual monitoring
Provides visual feedback without affecting performance
ProfitValue
Unit for displaying profit (Currency or Pips)
Currency
Based on user preference
Changes how profits are displayed on charts
MaxOrderCount
Maximum number of simultaneous open positions allowed
10
2-5 for conservative approach
Lower values reduce exposure during adverse conditions
MaxDDControl
Maximum drawdown control (0.0 = disabled)
0.0
10-20% for active protection
When set above 0, closes trades if drawdown threshold is reached
ShowInfoPanel
Displays information panel on the chart
true
true recommended
Provides visual feedback without affecting performance
TradeComment
Comment attached to all trades for identification
DIAMOND EUR
Unique identifier per pair/setup
Helps identify EA trades in account history
Magic
Unique identifier for the EA’s trades
77777
Any unique number
Prevents conflict with other EAs/manual trading
Summary and Recommendations
• Start with 1% TradingRisk and use AutoLot for safer position sizing.
• For optimal performance, focus on EURUSD, GBPUSD, and USDJPY on H1 timeframe.
• Confirm broker server time matches ServerGMT setting for accurate time filtering.
• Test on demo account for at least one month before using real funds.
• Use a low-latency VPS for reliable 24/7 operation.
• Avoid trading during major economic releases by keeping NewsFilter enabled.
• Consider disabling Monday and Friday trading to reduce weekend gap exposure.
• Verify broker spread conditions against MaxSpread setting before live deployment.
• Reduce MaxOrderCount from default 10 to 3-5 for more conservative exposure.
• Enable MaxDDControl by setting a value between 10-20% to limit potential losses.
• Adjust time filters to focus on market sessions with highest liquidity for your pairs.
Important Risk Warning
Trading foreign exchange on margin carries a high level of risk and may not be suitable for all investors. Past performance of EA Diamond MT4 is not indicative of future results. Market conditions change constantly, and this EA’s performance can vary significantly based on volatility, spreads, and execution quality. You are solely responsible for risk management, testing, and account supervision. The developer provides no guarantee of profits and accepts no liability for losses resulting from the use of this Expert Advisor.
I'm Jason Chen, the founder of EaOnWay.com. With over 15 years in Forex trading and a background in Computer Science, I started EaOnWay to cut through the noise and hype. My goal is to give you clear, honest insights and practical, risk-aware education about Forex Expert Advisors, so you can trade with more confidence
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