⚙️ Essential Pip Receiver Setup

Overview

Essential Pip Receiver is compatible with Essential account licenses, if you have a Professional or Multi-Connect account, use Pip Receiver Pro for more advanced features.
The way Essential Pip Receiver processes trade signals is as same as Pip Receiver Pro. It's just doesn't include some features such as Advanced traders filters, Daily/Weekly schedule tasks.
Essential Pip Receiver is and EA that will be installed in your MT4/MT5 terminal to receive and process your trading alerts.
In this guide, we explain the meaning of inputs in the Essential Pip Receiver. If you're looking for instructions to connect a MetaTrader account using the Pip Receiver, check Connect MT4 Account and Connect MT5 Account.
The screenshots are taken in the MT5 terminal. However, all inputs have the same meaning in both MT4 and MT5.

Essential Pip Receiver inputs are grouped into sections. See them below.

License Key: License you want to use in this connection. Learn how to create a license here.
License Secret: Secret key that comes together with the license above.
Magic Number: Magic number for all trades. You can use it to filter trades later.
Max Deviation: Maximum price slippage you are willing to accept when placing a trade.
Symbol Prefix: Use this for the Symbol Mapping feature.
For example:
- You send the message with symbol=EURUSD
- Symbol Prefix is i
  → Trades will be placed with the symbol=iEURUSD
Symbol Suffix: Use this for the Symbol Mapping feature.
For example:
- You send the message with symbol=EURUSD
- Symbol Suffix is m
  → Trades will be placed with the symbol=EURUSDi
  → Using both Symbol Prefix and Symbol Suffix will make it symbol=iEURUSDm

Point Multiplier: Multiply the Points value in your signal message by this number.
This setting is applied for all message keys that use the Points unit.
For example:
- You send the message with sl=20P. It means 20 points from the entry price.
- Point Multiplier is 10
  → Trades will be placed the stop loss level at 20 x 10 = 200 ticks from the entry price.
Size Percent: Configure the base value that Percentage size will use.
This setting is applied for Buy/Sell actions that use the Percentage size unit.
Supported values: Balance, Equity, Free Margin

This feature doesn't available in Essential Pip Receiver

This feature doesn't available in Essential Pip Receiver

This feature doesn't available in Essential Pip Receiver