Odin Manual
Odin Manual
Odin Manual
Thanks for purchasing the Odin forex robot. This guide covers installation, settings, and the
best ways to use your new robot.
Configuration ______________________________________________________________ 17
ECN Brokers____________________________________________________________________ 20
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Stop Loss Settings ______________________________________________________________________ 22
Take Profit Settings _____________________________________________________________________ 23
Protective Stop Settings _________________________________________________________________ 25
Time and Date Settings __________________________________________________________________ 28
Order Settings __________________________________________________________________________ 29
Order Expiration Settings ________________________________________________________________ 30
Visual Settings __________________________________________________________________________ 30
Internal Settings ________________________________________________________________________ 31
Templates______________________________________________________________________ 34
Presets ________________________________________________________________________ 35
Broker _________________________________________________________________________ 36
Timeframes ____________________________________________________________________ 36
Setup __________________________________________________________________________ 36
VPS ____________________________________________________________________________ 36
Contacting Us __________________________________________________________________ 37
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Downloading Your Forex Robots
In order for your software to work you need to add your forex account numbers using our
online licensing system. This process is quick and simple and can be repeated for any new
accounts. Let’s get started.
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Step 2: Verify Your Identity
Click this link to open our online license manager. Enter the email address from your original
software purchase. Hit the continue button.
* Note: If the system cannot find any purchases for your email address please
contact support.
A verification email will be sent to confirm your identity. Open the email and click the link
inside to continue the software licensing process.
* Note: The email may get delayed, marked as spam, or blocked. If the email
is missing be sure to check your junk folder. If it doesn ’t arrive within an hour
please contact support.
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Step 3: Access The Software License Manager
After clicking the link inside the verification email, you will be taken to a summary of your
software licenses. You will see a list of all your purchased forex software and any accounts
you’ve added previously.
* Note: You can always come back to the license manager in th e future to
add additional accounts or download new copies of your software. This
process can be repeated and there is no time limit for adding live or demo
accounts.
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Step 4: Add Your Forex Account Numbers
Click the “Add Account” button next to the software you wish to license.
On the following page, specify whether the account is live (real money) or demo (practice).
Type in the forex account number you located earlier in Step 1. Click continue.
* Note: If you have multiple accounts you can repeat th is process. You can
also come back and add more accounts in the future if you need to.
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Step 5: Request Your Licensed Software
After you’ve added your forex account numbers you can download a licensed copy of your
software. Your software will only run on the account numbers you’ve entered into the
licensing system. Click the download button next to the software you wish to install.
You will be asked to review your software’s forex accounts. If everything looks good, click the
download button again.
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Step 6: Save The Zip File
If your request succeeds you will come to a page with a large blue download button. Click it
and you will be given a zip file containing all of your software’s files.
Save the zip file somewhere that you can easily find them such as your desktop. Proceed to
the installation steps below.
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Installing Your Forex Robots
The zip file that you downloaded contains all of the files for your new forex robot. Let's install
them into MetaTrader 4 for use.
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Step 2: Open Your MT4 Data Folder
Open your MetaTrader 4 platform. Click on File > Open Data Folder. A new window will open
showing you the contents of your MT4 data folder. All experts, indicators, and templates for
your MT4 terminal are kept inside this folder. The 32-bit folder name will vary.
* Note: If you do not see an option to "Open Data F older" you are using an
old version of MT4. Upgrade your terminal to at least version 600 before
continuing.
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Step 3: Drag & Drop The Zip File’s Contents
In the zip file you left open, select and drag its contents into the MT4 data folder window. You
can also copy + paste them if that is easier. Click yes if you are prompted to overwrite existing
files.
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Step 4: Load Your Chart Template
Close and reopen MT4. Open a new chart for any pair. Right click inside the new chart window
and go to Template > [Robot's Name]. This will apply the robot’s indicators, color scheme, and
chart settings visually.
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Step 5: Attach The Forex Robot
Your new forex robots should be showing in the navigator. If the navigator pane is hidden, you
can enable it by clicking View > Navigator in the terminal’s top menu. Attach the new forex
robot by dragging it from the navigator onto the chart you opened in Step 4.
* Note: If you purchased the Fractal Breakout Indicator, it will be listed under
the "Custom Indicators" folder in your navigator.
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Step 6: Verify Settings
After attaching your forex robot, a window with expert advisor settings will open. On the
"Common" tab, make sure "Allow live trading" is checked.
* Note: If you are attaching the Pterodactyl or Volatility Robots, you will also
need to check "Allow DLL imports" and uncheck "Confirm DLL Function calls"
as pictured below.
On the "Inputs" tab you can change lot size, max spread, and more to fit your needs. Please
see the robot’s detailed manual for more information on these settings. If everything looks
good, click OK.
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If your robots aren't running, be sure the "AutoTrading" button at the top of MT4 is green. You
may need to re-attach the robot if AutoTrading wasn't enabled.
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Configuration
The default optimized settings are used when you attach the robot to a chart. You will need to
verify that they are correct for you. You can modify these settings at any time by right-clicking
on the chart that the robot is loaded on. To modify a setting simply double click on its value.
Two settings are very important. Let's take a quick look at them.
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Lot Size
Your robot will default to using a safe lot size it calculates automatically based on your equity.
You can override this by setting the “lot_size_method” to “Manual Input”. Using Manual Input,
the robot will use the lot size you specify in the “lot_manual_size” input field.
A micro lot is 1,000 units or $0.10 per pip on USD based pairs.
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Lot Size VS. Account Balance
The minimum recommended account balance for trading micro lots is $100 (with 1 pair). You
will need more than that if you plan to trade multiple pairs or larger lots. You should always
trade within your limits and never set a lot size that is too large for your account.
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ECN Brokers
Brokers like IBFX are called ECN brokers. ECN brokers require trades to be opened a certain
way. If you are using an ECN broker you will need to set "using_ecn_broker" to true on your
robot. If you're not using an ecn broker setting this value to true will still work.
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General Input Settings
There are several general settings that control how your robot trades. The default values are
what we recommend for most cases. However, you can customize them to create an entirely
unique trading robot. Here's a breakdown of each setting for your reference.
lot_size_method Specifies how the robot should determine lot size when
sending orders
Manual EA uses the lot size specified in the
Input “lot_manual_size” input setting
Auto EA calculates optimal lot size based on account’s
Calculate equity
Pair Settings
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require_fresh_bar Forces the EA to wait for a new bar on terminal launch
true On terminal launch, EA waits for a new candle to
appear before looking for signals
false Disabled, starts searching right away after launch
Account Settings
using_ecn_broker When using an ECN Broker, make sure this is set to true.
See the "ECN Brokers" section above for more info
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manual_sl_pips If using 'Manual Stop Loss' method:
Enter a stop loss amount (in pips) to be used for orders
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ATR Take Calculates take profit size using ATR levels
Profit
Percent of Sets the TP to a percent of the order's stop loss
SL
Indicator Use indicator provided levels for take profit (BETA)
TP Levels
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Protective Stop Settings
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Enter an increment (in pips) that the SL should jump
forward by as profit increases
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Enter a percent of the order's TP to use as a Trailing Stop
amount. Ex: '50' for half of TP, '25' for a quarter, etc.
stop_trailing_after_x_pips If desired, you can have the Trailing Stop halt when the
order reaches this much profit (in pips). Enter 0 to always
trail
use_time_window Only look for trades during a certain time window each
day?
true EA only trades between window times specified
below
false Disabled, trades anytime
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Order Settings
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Order Expiration Settings
Visual Settings
disable_logo Disable the large robot logo from showing in the top left
corner?
true EA’s large onscreen logo is not shown
false EA’s large onscreen logo is shown in top left corner
chart_formatting Choose what the robot should format on the chart when
loaded. NOTE: This will only apply basic colors and chart
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settings. You should still apply the robot's template first
to see its indicators (Template > Robot Name)
Nothing Leave chart as is, don't apply settings or colors
Colors Apply default robot color scheme to chart
Only
Settings Apply default robot properties to chart
Only
Everything Apply color scheme and settings to chart
Internal Settings
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show_sl_modifications Draw an arrow on-screen every time a stop loss is
modified? (useful for debugging)
true SL modification messages show up in the journal
false SL modification messages are muted
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Odin Specific Input Settings
The following input settings directly affect Odin’s appearance and trading methods.
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Quick Loading Custom Settings
Customized robot input values will be lost when you close the chart. You can get around this
by saving a new template or using presets to quickly load your custom input values.
Templates
Start by loading your robot on the chart as normal with its original template (if applicable).
Customize any input values you might need. When you're ready, right click in the chart and go
Template > Save Template.
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Specify a file name and hit save. Now when you start MT4 load that template onto your charts.
All of the values you originally specified will be loaded along with the expert.
Presets
Another way to quickly load your custom input values is to save them to a preset file. Preset
files can be loaded when attaching a robot to a chart.
Start by customizing your robot's input values. When everything looks good, hit the "Save"
button. Save the preset file to your computer where you can easily find it.
To load the saved values instantly, hit the "Load" button and browse to the file you created.
The robot's input values will automatically be changed to the ones you saved previously.
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Using Odin
Currency Pairs
Odin is configured to run on any currency pair. It will adapt its own settings for the chart's pair.
We recommend running Odin on pairs with good spreads and low volatility. Spreads will vary
from broker to broker, but some good choices are EURUSD, EURAUD, AUDUSD, USDCAD,
NZDJPY, NZDUSD, etc.
Broker
Any broker that supports MT4 and Expert Advisors will work. However, it is important to
remember that not all brokers are equal. We highly recommend demoing two or more brokers
to see which one has the best performance. A reliable broker is crucial to your software’s
success. We often see users have completely different performance from broker to broker.
Timeframes
Odin works best on middle to low timeframes. M15, M30, and H1 are great choices. M15 will
have more signals but also more fake-outs. Keep in mind that Odin will use the value you've
set for the "base_tf" input variable. Setting that to "Chart TF" will force Odin to use the
chart's current timeframe.
Setup
Odin is set to open and close trades by itself. In order to work properly Odin needs to be left
on the entire time the markets are open (24 hours, 5 days a week). Make sure that your
computer stays on with your MT4 platform open and connected.
VPS
Most full time traders run their forex robots on a VPS. A VPS is a virtual computer in the cloud.
You can log into your VPS remotely and use it like a normal PC. Most forex VPS services come
with MT4 pre-installed. This enables you to have MT4 running all the time without leaving
your personal PC on for five days straight. Google "forex vps" for more information.
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Software Support
Don’t go it alone! We are always here for support with your software. That includes
installation issues, troubleshooting problems, broker issues, performance tweaks, and general
questions. We highly encourage each and every customer to contact us if they have any
problems.
Contacting Us
We provide support through a web based ticketing system that includes email functionality. It
is very easy to contact us and receive replies. Please use our website support center to ask for
help on any issues you may be having, no matter how small.
We want each and every customer to be profitable and it is our personal mission to help
your software exceed to its absolute best. If you’re having any issues please contact us!
Rest assured that your ticket will be handled in the order it was received. Please do not
submit more than one ticket per issue. Please also try to submit the ticket using the same
email address you used to purchase your software. Do not submit tickets using more than one
email address as it adds unnecessary time to the support process.
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