⚒️ Quick Set Up

After setting up the Telegram MT4 Signal Trader EA & Telegram Reader application, we can do below steps to make the EA can trade the Telegram signals.

4 STEPS TO MAKE THE EA TRADE

STEP 1: Trade Symbols setting

Input symbol names in the signal for “Only trade symbols…” parameters:
There are 3 lines for "Only trade symbols", see a below image.

As default, all "Only trade symbols" parameters are blank. It means the EA will trade all symbols in your broker. If you want to trade all the symbols in your brokers, you don't need to do any thing in this steps, just leave them blank.

If you only want to trade some symbols, you need to input some symbol names in "Only trade symbols" parameters, and if you don't want to trade some symbols, you need to input some symbol names in "Don't trade Symbols" parameters.

For example: If you want to only trade 3 symbol names as EURUSD, GBPUSD, USDJPY, you can input value for "Only trade symbols" parameter as “EURUSD;GBPUSD;USDJPY” (don't write quotes).

If your broker provides the symbol names with suffix such as "EURUSDm, GBPUSDm, USDJPYm...", you should input the text "m" in an "Auto add symbol suffix" parameter of a "Re-write the signal text" function. See a below image.

STEP 2: Re-write signal text

Use “Re-write signal text” function to standardize the signal text structures:

Use this function to remove or replace text in the signal so that the EA can read symbol name (“EURUSD”, “XAUUSD”…), order type (“BUY”, “SELL”…), and number location values of lot size, open price, stop loss, take profit(s).

As default, the correlation character is “=” (an equal) and the separator character as “;” (a semicolon). You can change these characters by any other characters that you want (the ideally characters are which are not in the signal). For example:

To replace a text “GOLD” by a text “XAUUSD”, we will input value in the "Replaced texts" parameter as “GOLD=XAUUSD” (you can see in default setting).
If your signal text writes “GOLD” but the symbol name for in your broker is “XAUUSD”, this function will re-write the text “GOLD” as “XAUUSD”, then the EA can detect and trade the symbol “XAUUSD”.

Example: To replace the text “/” by a blank (a space), we input value as “/= ” (don't write quotes). You can see there is a blank (a space " ") after the “=” (equal).

Example: To remove the text “/”, we input value as “/=” (do not write quotes). You can see there isn't a blank (a space " ")  after the “=” (equal).

If your broker provides symbol names having suffix such as “EURUSDm”, “GBPUSDm”, “USDJPYm”… you need to input value “m” (don't write quotes) in “Auto add symbol suffix” parameter. This parameter helps the EA understands a text “EURUSD” in signal text as “EURUSDm” in the broker and trade symbol “EURUSDm”. See a below image.

STEP 3: Text TRIGGER & Text BLOCK

Input values for “Texts TRIGGER…” and “Texts BLOCK…” for Buy Order event and Sell Order event. See a below image.
Texts TRIGGER and Texts BLOCK for Buy Order event

Texts TRIGGER and Texts BLOCK for Sell Order event

As above default setting, you can see there are some texts already there. They mean:

• If there is/are a text “BUY” or a text “LONG” in the signal text, the  "Open a buy order event" is triggered and the EA will open a new buy order.
• If there is/are a text “SELL” or a text “SHORT” in the signal text, the "Open a sell order event" is triggered and the EA will open a new sell order.

You can change these setting values to match your signal texts

REMEMBER:

• If you want the EA opens an order (Buy or Sell) when a signal comes, you should input a text or many texts (contained in signal) in “Text TRIGGER…” parameters for Buy and Sell order events.
• If you want the EA doesn’t open an order when a signal comes, you should input a text or many texts (contained in signal) in “Text BLOCK…” parameters for Buy and Sell order events. If the signal text contains some texts in the "Text BLOCK" parameter, the EA will skip this event and go to a next steps.

STEP 4: Number location values

Number location values are the positions of numbers in the signal.

Input number location values of lot size, open price, stop loss, and take profit… for Open a Buy/Sell Order events if your signal provides market order signals, and/or for Open a Buy/Sell Limit/Stop Order events if your signal provides pending order signals.

As default, all these values are = 0, means the EA will ignore the values of lot size, open price, stop loss & take profit (1,2,3...), and open a new trade with a default lot size, an open price = current market price, no stop loss, no take profit.

EXAMPLE 1: See a below example signal

SELL AUDCAD at 142.30
SL 143.30
TP 141.30

In this case, we will input values for Open price = “1”, Stop loss = “2”, Take profit = “3”, and leave other values = “0” (ignore). See a below image.

EXAMPLE 2: See below example signal

SELL AUDCAD at 142.30
SL 143.30
TP 141.30
TP 140.30
TP 139.30

This signal is to trade multi take profits, the EA will open 3 orders with 3 different take profit values. We will input values for Open price = “1”,  Stop loss = “2”, Take profit (Tp1) = “3”, Tp2:Tp3:Tp4:Tp5… = “4:5”, and leave other values = “0” (ignore). See a below image.

EXAMPLE 3: See bellow example signal

SELL AUDCAD at 142.30
SL 143.30
TP 1 at 141.30
TP 2 at 140.30
TP 3 at 139.30

This signal is nearly like in example 2, but please note that there are numbers “1”, “2” and “3” in texts “TP 1”, “TP 2”, and “TP 3”.  And please note that there are blank characters between the text "TP" and the number "1", "2" and "3". These numbers change number location values of Open price, Take profit, and Stop loss compare to signal in example 2.

In this case we will input number locations values for Open price = “1”, Stop loss = “2” Take profit (Tp1) = “4”, Tp2:Tp3:Tp4:Tp5… = “6:8”, and leave other values = “0” (ignore). See a below image.

EXAMPLE 4: See bellow example signal

SELL AUDCAD at 142.30
SL 143.30
TP1 at 141.30
TP2 at 140.30
TP3 at 139.30

This signal is nearly like in example 3, but there aren't blank characters between the text "TP" and the number "1", "2" and "3". These numbers change number location values of Open price,  Stop loss, and Take profits are the same to example 2.

Why? Because the EA considers the numbers next to the text (without a blank character between them) are parts of the text, not a number.

In this case we will input number locations values for Open price = “1”, Stop loss = “2” Take profit (Tp1) = “3”, Tp2:Tp3:Tp4:Tp5… = “4:5”, and leave other values = “0” (ignore). See a below image.