FxPro Quant What is FxPro Quant? FxPro Quant is a visual strategy builder that allows you to automate your trading by programming your own algorithms without the use of a... more" /> FxPro Quant - FxPro Review

FxPro Quant

FxPro Quant

What is FxPro Quant?

FxPro Quant is a visual strategy builder that allows you to automate your trading by programming your own algorithms without the use of a coding language.

How do I access FxPro Quant?

You can access FxPro Quant via the FxPro Quant website at quant.fxpro.com. Click on ‘Launch FxPro Quant’ to start using the application.

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Sign in using your FxPro Direct (direct.fxpro.com if you are under CySEC, or direct.fxpro.co.uk if you are under FCA) credentials to create a strategy. Both registered and unregistered users can use the application to create strategies or modify existing EA templates. Users that are registered with FxPro may also save their strategies by pressing ‘Save’ or ‘Save As’. Unregistered users can import/export Quant files to their hard drive to continue working on their strategies at a later time (Menu > Import/Export to File).

Registered users will be able to find all created/modified strategies in a list under ‘My Strategies’.

What do I need in order to run FxPro Quant?

To use FxPro Quant you need a web-enabled computer with a browser that can run Adobe Flash Player.

Do I need to install any software in order to use FxPro Quant?

No. FxPro Quant is a completely web-based strategy builder, which means that you do not need to install any software to use the application.

What you do need in order to use FxPro Quant is a web-enabled computer with a browser that can run Adobe Flash Player.

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What are Expert Advisors (EAs) and cBots?

Expert Advisors (EAs) and cBots are programs that are designed to automate trading on the MT4 and cTrader platforms, respectively. EAs/cBots use predefined money management rules and trade execution protocols to monitor price action in real time and identify when a market meets the conditions that have been predetermined by the user. EAs and cBots can be configured to provide trading signals when these market conditions are present, or they can be fully automated to open and close positions on the user’s behalf.

How will I benefit from creating an EA or cBot?

EAs and cBots allow you to automate your trading.

There are many advantages to automating your trading. Firstly, algorithmic trading eliminates the stress and anxiety that usually come with trading manually and is therefore not prone to mistakes made on impulse when the market moves unfavourably. Secondly, trading with EAs/cBots can significantly reduce the time you spend waiting for the perfect trading opportunity since your trading algorithms monitor the market, identify good opportunities and execute trades for you. Thirdly, all calculations are carried out by algos, which increases the accuracy of your trades.

Do I need to know a coding language in order to create an EA or a cBot?

No. FxPro Quant is designed to be simple and user-friendly, so that traders can create strategies without the use of complex coding language.

To create a new strategy, all you have to do is browse through nodes in the ‘Library’ and drag and drop your selections onto the Workspace Area. Click on the outer circle of a node and drag to another node to link the two.

What is an EA template?

An EA template is a ready-made Expert Advisor. Templates can be found under the ‘Examples’ tab in the FxPro Quant application.

What is a node?

A node is a single component of an EA. In FxPro Quant, nodes are the round buttons that you can drag and drop on the Workspace Area and link together to create automated strategies.

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What is a technical indicator?

A technical indicator is the result of a mathematical formula that is applied to the historical price action of an underlying instrument. The data used to calculate technical indicators includes combinations of open, close, high and low prices over certain periods of time. Other indicators may use information such as volume and velocity to drive their results.

Essentially, technical indicators consist of a series of data points that can be overlaid on current price action in order to see how an instrument is currently performing in comparison to how it performed in the past. They are employed by traders to determine an asset’s future movements, as well as to determine the best points at which to open and/or close positions.

Where can I find the strategies I have created and saved?

If you are a registered user, you can find the strategies you have created and saved in the FxPro Quant application, under ‘My Strategies’.

Can I test my EA before going live?

Yes, you can back-test the performance of your EA over historical data on the MT4 platform. To do this, go to ‘View’, select ‘Strategy Tester’, choose the Expert Advisor from the list and set back-test parameters.

Once you are happy with your EA, you can test it in live trading conditions by using it on your demo account.

Can I test my cBot before going live?

Yes, you can back-test the performance of your cBot over historical data on the cAlgo platform. To do this, you need to navigate to your cBot in cAlgo and click ‘Add an Instance’. Select ‘Created Instance’, navigate to ‘Backtesting’ tab and set your preferred back-test parameters before running.

Once you are happy with your cBot, you can test it in live trading conditions by using it on your demo account.

How do I load an EA onto my MT4 platform?

Once you have created a strategy, click on ‘Build’ to get the code for the trading platform you are using. You can choose whether to copy the code to clipboard or save it to file.

To compile your EA for MT4, open your MT4 terminal, click on ‘Tools’ and then ‘MetaQuotes Language Editor’. Click on ‘New’ and select the option to create a new Expert Advisor. Replace the default text with your strategy code from FxPro Quant and click ‘Compile’. Your EA will be available for use.

How do I load a cBot onto my cTrader platform?

Once you have created a strategy, click on ‘Build’ to get the code for the trading platform you are using. You can choose whether to copy the code to clipboard or save it to file.

To compile your cBot for cTrader, open cAlgo and click on ‘New’ to create a new cBot. Replace the default text with your strategy code from FxPro Quant and click ‘Build’. Your cBot will be available for use.

Where will I find my newly-created EA on the MT4 platform?

All EAs are visible in the ‘Navigator’ window on the left-hand side of the MT4 platform. Click on the ‘Expert Advisors’ drop-down menu and then click on the ‘+’ icon to expand the selection and view the full list of available EAs.

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Where will I find my newly-created cBot on the cTrader platform?

All cBots are visible under the ‘cBots’ tab that is found on the left-hand side of cAlgo and cTrader applications.

Can I run more than one EA at the same time?

Yes, you can run multiple EAs at the same time and on the same instrument. However, you may only load one EA per chart. If, for example, you wish to set two EAs to both trade on EURUSD, you will have to open two EURUSD charts and load an EA on each of them.

Can I run more than one cBot at the same time?

Yes, you may run multiple cBots at the same time and on the same chart.

How do I know whether my EA is running correctly?

To make sure that your EA is running correctly you must first confirm that EAs are enabled on your platform. To do so, check that the ‘Expert Advisors’ button on the main toolbar at the top of the screen is green. In case it is red, click on it to enable EAs.

You must then ensure that your EA is enabled for live trading. To do this, right-click on the chart where the EA has been placed, select ‘Expert Advisors’ and then ‘Properties’. Check the box labelled ‘Allow live trading’ and click ‘OK’. Your EA should now be working properly.

Once your EA is up and running, you can check the ‘Experts’ and ‘Journal’ tabs in your terminal to see if your system is reporting any errors.

Please note that if your EA is running and automatic trading is enabled, you will be able to see a smiley face on the top right corner of the chart next to the name of the EA.

How do I know whether my cBot is running correctly?

If you are running cBots on your cTrader platform, you will be able to see a list of attached cBots on the bottom left corner of the chart. A ‘Stop’ button will also appear if your cBot is running correctly.

If you are running cBots in cAlgo, you will be able to see a list of active instances under each cBot in the cBots list. A ‘Stop’ button will also appear next to running instances.

Once your cBot is running, you can check the ‘Journal’ and the ‘cBot Log’ tabs to see if your system is reporting any errors.

Please note that cBots running in cTrader will not be visible in cAlgo, and vice versa.

Why does my EA have a sad face next to it when I drag it onto a chart?

A sad face in the top right hand corner of the chart usually means that the EA has been installed but has not been enabled for live trading

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To do this right click on the chart where the EA has been placed, select ‘Expert Advisors’, then ‘Properties’. In ‘Properties’ check the box labelled ‘Allow live trading’, then click ‘OK’. Your EA is now enabled for live trading.
To enable automatic trading in your platform go to ‘Tools’, then ‘Options’, select ‘Expert Advisors’ and check the ‘Allow automated trading’ box.

Why does my EA keep opening multiple positions?

Your EA will keep opening multiple positions if the ‘If no orders’ condition in your EA’s ‘Open Position’ node is set to ‘False’.

Set it to ‘True’ to prompt it to open a new position only in the case that there are no existing positions already open.

Will my EA or cBot continue to work after I close the MT4/cTrader platform?

In order for your EAs/cBots to trade for you, your machine must be running with your MT4/cTrader terminal open. Closing your MT4/cTrader terminal will cause your EAs/cBots to stop trading.

You can subscribe to FxPro VPS (Virtual Private Server) to have your EAs/cBots continue to trade around the clock, regardless of whether your MT4/cTrader terminal is open or your computer running.

How do I remove an EA that I have loaded from my MT4 platform?

To remove an EA from your MT4 platform, right-click on the chart, select ‘Expert Advisors’ and then ‘Remove’.

How do I remove a cBot that I have loaded from my cTrader platform?

To remove a cBot from cAlgo or cTrader, click on the ‘Stop’ button. Instances can be removed from the chart in cTrader or from the ‘Instances’ list in cAlgo.

Can I get EA/cBot support from FxPro?

Yes. If you have any questions about FxPro Quant, please contact our EA Support Desk at [email protected]
Please note that our EA Support Desk cannot build strategies for you.

Why does my EA have a cross next to it when I drag it onto my chart?

It seems you don’t have Expert Advisors enabled on your MT4 terminal. This can be done by simply clicking on the ‘Expert Advisors’ button in the main toolbar above the chart. When the little symbol inside it turns from red to green EAs have been enabled. Alternatively you can do this by going to ‘Tools’, ‘Options’, selecting the ‘Expert Advisors’ tab and ensuring that the ‘Enable Expert Advisors’ box is ticked. To save these changes and return to your chart simply click ‘OK’.

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