3. Configure and Run¶

In this chapter you will learn how to configure and to run the AI for Gold EA.

3.1. EA Configuration Parameters¶

The EA has actually only a few parameters.

Parameters ver 1.72¶
Group	Parameter	Discription
Information	No Input needed. Just mind the information is meant for you to read when using AI For Gold.
AI Backbone Settings	Access Configuration.
	Protection UID	If you just purchased the EA, contact me to get a new UID for your license. This way only I can provide the above features like centralized data stream and the look-ahead support with the log data analysis. This will also protect you from cracked or manipulated versions.
Main Settings	General Configuration.
	Magic Number	This Magic Number is used for the positions. If AI-Backbone-Data-Stream is enabled, this Magic Number is used to generate a new one encoding some information into the positions a broker can’t manipulate (like it is common with the comments).
	Use AI Backbone Data Streams (before ver 1.72)	Removed in 1.72 - it is enabled by default now. Avoids using original price data from your broker and uses centralized data from ai-backbone.com instead. This way it is possible to avoid the influence of broker-only price variations and market maker impact.
	Submit SL to Broker	If true, Stop Loss price levels are submitted to the broker. If set to false, the EA tracks the price level (using ai-price stream) in real time and triggers SL on its own. This feature was added in order to make it impossible for brokers to trigger the SL with flash spikes. Note: If the connection to ai-backbone.com breaks down, the SL is submitted to the broker automatically in order to avoid loosing track of the trade.
	Draw Entry Setups	If enabled, draws the setups as rectangles on the chart. Not supported yet if AI-Backbone-Data-Stream is enabled.
	Print Debug Messages	If enabled, prints much more messages to the “Experts” log table.
	Comment	This comment is used when placing an order. The entered string is augmented with a time string.
	Trade Direction Filter	If you would like to enable AI for Gold placing trades in one direction only, you can select it here. If you select “Buy Only”, then only long positions will be triggered. And vice versa.
Risk Settings	Risk Adjustment.
	Multiply all lots	AI for Gold multiplies the basic estimated position size with this value before opening a position. The basic lot size uses several inputs like the account size $L_{acc}$ and the Price Action Risk $L_{risk}$. The formula it uses is $\text{Lot} = \left(L_{acc} \cdot L_{risk}\right) \cdot L_{mult}$ with specific settings as follows:
		$L_{acc}=0.01 \cdot \frac{\text{AccountSize}}{1000\$}$
		$L_{risk}$ Computed from the Price Action pattern size. The smaller the volatility, the higher this value will be since the EA is not expecting the price move quickly.
		$L_{mult}$ The value you enter here in this input field.
		Note: $L_{mult}$ value for minimal risk: $\frac{1000\$}{\text{AccountSize\$}}$
	Risk Level	This impacts the $L_{risk}$ part from above. AI for Gold estimates higher lot sizes for smaller Price Action patterns. You can aplify this behaviour with a risk value larger than 1. And disable it with a value of 0 (zero).
	Max Lot	If the computation of the lot size ($\text{Lot}$ see above) for the next position is higher than this value, the entry setup is dismissed.

3.2. Example Configurations¶

Please get proposed configurations for different risk levels from ai-backbone.coms/sets or from your VIP area

3.3. Preparing to Run AI for Gold¶

Open MetaTrader5
Log into your account.
Enable Access to AI-Backbone

Make sure, that Ai for Gold can communicate with the protection and AI-Data-Stream server. Go to “Tools” (on top of the screen), then “Options”, then select the tab “Expert Advisors” and enter the URL into the field as shown in the screenshot below.

Note

Add https://cii.ai-backbone.com/protector to the listed URLs. Go to “Tools” (on top of the screen), then “Options”, then select the tab “Expert Advisors” and enter the URL into the field as shown in the screenshot below.

Warning

If this is your first time doing this, please use a demo account with your broker.

3.4. Running a Backtest with AI for Gold¶

I would strongly encourage you to run backtests before deploying AI for Gold to your real-money or live demo account. This may indicate incompatibilities with your broker, currency, or something else.

You will need to open the File navigator first and then right-click on the EA and select “Test”. If you purchased via MQL, the EA will be located in the “Market folder”.

This is how the backtest results might look like:

Note: Since version 1.72 “AI data stream” is always on. “AI data stream” is an option to remove broker dependencies as described here

3.5. Running AI for Gold¶

Open the Chart for Gold (XAUUSD),
Set it to 15 Minutes timeframe
Drag the AI for Gold EA from the market to the chart.

Now you should see the prompt for the input options. Enable Allow Algo Trading and set your input parameters. Use a prepared set file from ai-backbone.coms/sets or use the parameter descriptions above.

Enable Algo Trading

Make sure the Algo Trading Button on top is green:

3.6. Final Check¶

If you set everything right, you will see the EA confirming all its setting with this friendly information panel.

3.7. MetaTrader at startup¶

The next time you start MetaTrader, the charts and EAs will be loaded automatically. However, it is not certain whether MetaTrader for the EAs also takes over the correct configurations on restart. Hence a warning:

Note

When launching MetaTrader, you should remove and add the EA back on the chart while making sure that all settings are correct.