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Expert Advisor

Expert Advisor

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Latest PineConnector Versions
Component
Version
Portal
v3.24.0
MetaTrader 4 EA
v3.46.1
MetaTrader 5 EA
v3.49.2

Last updated: Tuesday, 26th August 2025

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PineConnector EA

This guide provides a comprehensive overview of the PineConnector Expert Advisor (EA) settings available in your MetaTrader terminal. Understanding these settings will help you tailor the EA's behavior to your specific trading strategies and preferences.

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Keyboard Shortcut To access the EA settings in your MetaTrader terminal, press F7.

License ID

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Input your unique License ID found in the PineConnector Licensing Dashboard. This is required to connect the EA to the PineConnector server.

  • It is typically a long numerical value, usually starting with a 6 or 7 (e.g., 60123456789).

Syntax Parameter Interpretation Settings

These settings define how the EA interprets specific parameters received in alert messages from TradingView.

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Target Type (for sl= and tp=)

Determines how stop-loss (sl=) and take-profit (tp=) values from your alert messages are computed and applied.

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Are you aware of the potential price discrepancies between TradingView and MetaTrader? Read more here.
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Options:
  • Pips (Default):
    • Targets are set in pips away from the entry price (for new orders) or current market price (for modifications via newsltp... commands).
    • Example: If EURUSD is at 1.0567, a buy alert with sl=12 will place the SL at 1.0555.
    • Non-FX Instruments (e.g., NAS100/US100): The pip value might differ. For instance, sl=10 might mean 1 point or 10 points. Always send a test trade to confirm computation for specific symbols. You may need to adjust values (e.g., multiply by a factor of 10).
  • Price:
    • Targets are set at the exact price level specified.
    • Example: sl=1.12345 means the SL will be placed precisely at 1.12345.
    • Caution: This option is generally not recommended due to potential discrepancies in price quotes between TradingView and your broker, especially for target prices very close to the current market price. This can lead to order rejection errors (e.g., invalid stops).
  • Percentage:
    • Targets are set as a percentage away from the entry price.
    • Example: If BTCUSD is at $20,000, a buy alert with sl=1 will mean the SL is placed 1% away, at $19,800.

Volume Type (for risk=)

Determines how the order volume (lot size) is computed based on the risk= parameter in your alert messages.

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Options:
  • Lots (Default):
    • The risk= value directly specifies the lot size.
    • Example: risk=1 means 1 standard lot will be opened.
  • Dollar Amount:
    • The risk= value specifies the approximate amount of account currency you are willing to lose if the trade hits its stop-loss. The EA calculates the lot size based on this amount and the specified sl=.
    • Example: On an EURUSD trade with a 15-pip SL, if your account currency is USD and you send risk=10, hitting the SL would result in an approximate loss of $10.
    • An sl= value in the alert or EA settings is required for this calculation.
  • Percentage of Balance, Lots:
    • The lot size is calculated as a percentage of your account balance. sl= is not required for this calculation.
    • Example: With risk=1 on a $10,000 account, a 1 lot position will be opened. (0.1 lot for $1000 account, 10 lots for $100,000 account).
  • Percentage of Balance, Margin:
    • The risk= value determines the margin to be used for the position as a percentage of your account balance.
    • Example: If you set risk=1 on a $1000 account, the EA attempts to open a position where the margin used is approximately 1% of the balance ($10).
  • Percentage of Balance, Loss:
    • The risk= value specifies the percentage of your account balance you are willing to lose if the trade hits its stop-loss. The EA calculates the lot size.
    • Example: risk=1 on a $1000 balance translates to risking a $10 loss if the SL is hit.
    • An sl= value in the alert or EA settings is required.
  • Percentage of Equity, Loss:
    • Similar to "Percentage of Balance, Loss," but the calculation is based on account equity instead of balance.
    • Example: risk=1 on a $1000 equity translates to risking a $10 loss if the SL is hit.
    • An sl= value in the alert or EA settings is required.

Pending Order Entry Type (for pending=)

Determines how the entry price for pending orders (e.g., buylimit, sellstop) is computed based on the pending= parameter in your alert messages.

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Important Notes for pending=:
  1. Positive Values Only: Values for pending= should always be positive. The EA intelligently determines whether to add or subtract this value from the current market price based on the pending order type (e.g., a buylimit will be placed below market, a buystop above).
  2. Target Computation: Your sl= and tp= targets for pending orders are still based on your selected Target Type. However, their placement will be calculated relative to the pending order's entry price, not the market price at the time the alert is received.
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Options:

Account Filter Type (for accfilter=)

Determines which account metric is checked when using the accfilter= parameter in your alert messages to conditionally process signals.

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Options:

Signal vs. EA Input Prioritization

This group of settings controls whether the EA uses SL, TP, and Risk values from your incoming alert messages or values set directly within the EA's input parameters.

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Context for EA Inputs:

Parameter Source Setting ("Setting")

Determines which values (from the alert signal or from EA inputs) are used for SL, TP, and Risk when processing incoming signals.

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Options:
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Scenario Examples:

EA Input Values for Stop Loss, Take Profit, Risk

These are the fields in the EA's input settings where you can define default SL, TP, and Risk values. These are used if the "Parameter Source Setting" (Section C.1) is configured to use "EA Parameters Only" or one of the mixed modes.

  • Values: You can typically input any positive numerical value, including decimals (e.g., 0.1, 10, 10.123). The interpretation depends on the selected Target Type and Volume Type.

General Trading Behavior Settings

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Pyramiding

Determines how the EA handles multiple incoming signals for the same symbol and direction.

This EA option typically only recognizes positions opened by this PineConnector EA instance unless Magic Restriction off is turned off in the EA.

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Options: