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MetaTrader Expert Advisors ECN-Compatibility

May 28, 2012 by

A major update has hit the Forex expert advisors section on EarnForex.com today. I have added ECN-compatibility to all the EAs that were coded by me — that is almost all the presented EAs. ECN-compatibility means that the expert advisor can now work with the ECN MetaTrader brokers (the ones that force market execution for the trading robots). Market execution means that you cannot add stop-loss or take-profit levels during the position opening; stop-loss and take-profit may be added only later by modifying the existing position.

There are three categories of the MT4/MT5 expert advisors available now from this website:

  • ECN-compatible — such expert advisor have a special input parameter called ECN_Mode, which when set to true will switch the EA to ECN mode and all the stop-loss/take-profit levels will be applied only after position is opened. This will create a small delay in execution and also a short period when position exists without a stop-loss but, usually, both are negligible.
  • ECN-incompatible — expert advisors from this group will most probably not work properly with market execution brokers. They will trigger OrderSend Error 130 messages and their orders will not go through the ECN execution system. You will have to either try modifying them yourself, disabling SL/TP levels, or switch your broker to the one with instant execution.
  • ECN-safe — these EAs have no problem working with market execution because they either do not use explicit stop-loss/take-profit levels or trade solely via pending orders, which is OK with ECN Forex brokers. They do not have any special input parameters for enabling ECN mode.

Each expert advisor’s category is visible on its description page along with a detailed explanation of this category.

If you have any questions or wish to report some bugs in the ECN-compatibility of our expert advisors, please feel free to reply using the form below.

6 Responses to “MetaTrader Expert Advisors ECN-Compatibility”

  1. Tim

    Hi,

    This may be the answer!

    I have an MT4 broker who tells me that my EA (Framework) is unable to set SL/TP orders on position opening; I have to open a position first without SL/TP and only then modify it.

    I note you say that Franework is ECN-compatible and that I would have to set ECN-Mode input parameter to true in order to enable ECN-compatability. However, I cannot find where this input is – please would you be able to let me know where to go to change this?

    Thank you.

    Reply

    admin Reply:

    You probably have to re-download the expert advisor as you have downloaded before the ENC-compatibility changes were implemented.

    Reply

  2. Gianluca

    Hi,
    For you:
    1. Which execution is better for scalping with timeframe range from 15 min to 1H? Instant or Market?
    2. Be ECN broker it means only to have market execution or instant execution? Or we can choose one of them?
    Thanks

    Reply

    Andriy Moraru Reply:

    1. First, I would not call trading on M15 or H1 scalping. Second, it seems to me that scalpers can do well with market execution as they almost never set SL or TP with entry.

    2. Some ECN brokers allow choosing execution type when you open an account, but you cannot switch it anytime.

    Reply

  3. Gianluca

    I’m sorry I wanted to say trading instead of scalping, It was late at night. However which execution do you recommend for these timeframes? And at large?
    Thanks

    Reply

    Andriy Moraru Reply:

    Generally, if you do not need to send orders with preset SL/TP, market execution should be better for you.

    Reply

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