1. Run the installer and be sure to select the main Metatrader folder. Then click "Install".
After you have installed the Scion Forex Autotrader successfully, you should see a message that confirms that the installation was successful.
2. Run the Metatrader platform where you installed Scion Forex Autotrader.
3. Scroll up to TOOLS > OPTIONS. Select the EXPERT ADVISORS tab. You will see a series of settings here. Be sure that Allow Automated Trading and Allow DLL Imports is enabled. Click OK.(These two settings need to be activated for automated trading and Scion Forex Autotrader to work efficiently)
4. Open any chart with any currency on any time frame. From the Navigator section, locate Scion Forex Autotrader and attach it to the chart. You will see a dialog box.
Select the COMMON tab. Make sure Enable Alerts, Allow Live Trading and Allow DLL Imports is enabled.
5. Select the INPUTS tab. You will see the settings of the Scion Forex Autotrader.
Very Important: See below to understand what each setting is and does before clicking ok.
OpenOrderSlippage: This is a "Slippage" protection mechanism. If our robot attempts to open a trade at a certain price and your broker tries to fill you in at a lower or higher price, the Scion Forex Autotrader will automatically block the trade and protect you. The number in the Value column indicates the pips difference. The default setting is 5 pips difference. You can increase or decrease this number to your satisfactory needs.
TradeOperationMaxRetry: If for some reason a trade did not get executed on the first attempt, this will be the number of retries the Scion Forex Autotrader will make to take the trade.
OrderWaitingPeriodSeconds: This is a very sophisticated setting which was built for volatility protection. If we execute a trade from our end, it will replicate on your platform. If there is high volatility in the market, the price difference between our executed trade and the trade executed on your account may differ so this setting will successfully execute the trade on your platform within the time specified. The default time is 10 seconds.
AutoLotManagementEnabled: If you enabled this settings, the lot size will automatically be adjusted to your account balance. If the account balance is less than $1000, the lot size will automatically be set to 0.01. If the account balance is between $1000-$5000, the lot size will be automatically set to 0.10. Lastly, if the account balance is $5000 or more, the lot size will be automatically set to 1.00.
OrderLotMultiplier: This setting is only applicable if you have AutoLotManagementEnabled turned off and if you wish to have trade executed at the lot size of your choice. If you do not want the Scion Forex Autotrader to use the automatic lot size based on your account balance, then be sure to set AutoLotManagementEnabled to FALSE and input the lot size that you want to use in this field.
SpreadControlMaxPips: Spread control protection. This is the maximum amount of spread that the Scion Forex Autotrader will allow when executing a trade. At the moment of execution, if your broker's spread is more than the amount of pips specified in this field, the trade will not be executed. This is another protection mechanism.
DeviationControlMaxPips: Deviation control protection. Similarly to SpreadControlMaxPips, this is the amount of pips difference that our end and your platform can tolerate. For example, if our end opens a trade at price 1.00000 and the DeviationControlMaxPips is set at 6.0pips, then price at your platform should be within 0.99940 and 1.00060 in order for the trade to get executed. If the price difference is more than the amount of pips specified in this field, trade will not be executed.
SymbolSuffix: Very Important! Be sure to check your brokers symbols on the chart to see if they use a suffix. If your broker does not use a suffix in their symbols, you can ignore this setting and leave it blank. A suffix is a series of a few characters that some brokers use after the main symbol. For example, the main symbol for EUR/USD would be EURUSD. An example of a symbol with a suffix would be EURUSDpro. See example of chart below. In this case, you would add pro in this field. Each broker may have a different suffix so check it and add it. You can add as many as you like. Be sure to add a comma after each one.
DefaultOrderMagicNumber: This number will identify which trades were taken by the Scion Forex Autotrader only. You will never get mixed up with your other trades. You can change this number if you wish or leave it default.
6. You will be prompted with a dialog box where you need to input your login details. This is the same username and password that you created at startup. Note: If you have forgotten your login details, contact us.
After you click Login, it should show that you are successfully connected. On the bottom right of the app, it will say "Logged In".
7. Now when you go to the chart where you attached the Scion Forex Autotrader, you will see the time along with your balance and the current lot size that is being used.
You may click the Scion Forex panel and it will bring up the dialog box where it will display all activity done by the Scion Forex Autotrader EA.
If you look at the System Tray on your desktop, it will show a green connection icon which you can click and it will also bring up the dialog box.
Be sure that in MT4 under the "Market Watch" section, you click "Show All". It is important that all the currency pairs are enabled so that trades get executed on your platform.
- Right click any currency pair and click Show All. See below:
Desktop App Settings
Scroll up to the wheel and click it. You will be presented with a series of settings.