How To Read & Set Up Strategy Settings From The Screenshot

In this tutorial, we will walk you through how to read and set up strategy settings from a screenshot using FxMagnetic Breakout Trader.

You’ll learn how to interpret every parameter shown in a strategy screenshot, follow a clear 9-step setup process, and replicate any given strategy precisely inside MetaTrader.

This guide breaks down the process into manageable steps: broker and chart setup, scanner configuration, trade filter settings, panel parameter input, and saving strategies for future use.

This guide is designed to help both new and experienced FxMagnetic Breakout Trader users replicate strategies quickly and accurately from any screenshot.

Before You Begin

Before proceeding, make sure the following are already in place:

• MetaTrader platform is installed
• FxMagnetic Breakout Trader software is installed
• You have access to a Scandinavian Markets demo account (recommended broker)

There are separate videos covering both the installation process and how the strategies inside Breakout Trader work. These are included in your course email. Review those first before proceeding with this guide.

Note on Broker Differences: All example strategies are built and tested using Scandinavian Markets. If you use a different broker, expect some variation in results due to differences in price feeds and candle data. Using the same broker ensures the strategies match exactly.

The 9-Step Setup Process

The screenshot you receive contains all the information needed to replicate a strategy. The settings panel in MetaTrader may look cluttered, but each relevant parameter maps directly to one of the nine steps below.

Step 1 — Set the Broker, Pair, and Timeframe

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The top line of the strategy screenshot displays three pieces of information: the broker, the currency pair, and the timeframe.

For the example in this tutorial:

• Broker: Scandinavian Markets
• Pair: USD/JPY
• Timeframe: M5 (5-minute chart)

Open the corresponding chart in MetaTrader before proceeding to the next step.

Step 2 — Attach the Scanner and Select the Strategy Type

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Attach the Breakout Scanner to the chart. Once the settings panel appears, set the following:

• Trading Strategy: London Breakout Reverse (as shown on the screenshot)
• Pattern Flexibility: Flexible (set to “F” mode)

These two settings are part of the same step. Make sure both match what is displayed on the screenshot before moving on.

Step 3 — Set the Number of Signals

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This setting controls how many historical signals the scanner backtests and displays.

• Default value: 50 signals
• If the screenshot shows a different number (e.g., 25 or 100), enter that value instead.

For this example, leave it at the default of 50.

Step 4 — Select the Stop Loss / Take Profit Type

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The SL/TP type is visible on the strategy panel. Match it to what appears on the screenshot.

• Type shown: ATR (Average True Range)
• ATR is the default setting, so it should already be selected when you attach the scanner.

Step 5 — Set Max Trades Per Day (MTPD)

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Locate the MTPD value on the screenshot. This limits how many trades the strategy can take in a single day.

• Value shown: MTPD = 2
• Set Max Trades Per Day to 2 in the scanner settings.

Step 6 — Configure the Trade Filter

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The trade filter adds a secondary condition to qualify signals. It has its own sub-settings:

Not all trade filters use all three parameters. The RSI Rebound filter uses all three. Enter each value exactly as shown on the screenshot.

Step 7 — Set the Time Filter and Daily Exit Time

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The time filter restricts when the strategy is allowed to trade during the day. MetaTrader uses 24-hour clock format.

• Trade From: 10 (10:00 AM)
• Trade Until: 16 (4:00 PM)
• Daily Exit Time: Leave empty (shown as “not available” on the screenshot)

If the screenshot shows a daily exit time value, enter it. Otherwise, leave the field blank.

Step 8 — Set the Spread

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The spread setting filters out trades when market spread is too wide.

• Spread Value: 10 points (standard for USD/JPY)

Set the spread to match the value shown on the screenshot, then click OK.

Step 9 — Match the Panel Parameters

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After clicking OK, the scanner loads — but the four parameter values on the display panel will not yet match the screenshot. These must be set manually.

From the screenshot example:

• Parameter 1: 2
• Parameter 2: 2
• Parameter 3: 15
• Parameter 4: 0

Enter these values on the panel, then click Apply. The scanner will recalculate and the stats — win rate, total profit, return/drawdown ratio — should now match the screenshot exactly.

How the Rolling Backtest Works

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The scanner always backtests the last 50 trades (or however many signals you set in Step 3). This is a rolling window, not a fixed one.

As new trades are generated and closed, older trades drop out of the backtest automatically. This means:

• Stats shown on the panel shift over time as new data comes in
• The strategy you set up today will show different stats next week, next month, or next year — even with identical settings
• This is expected behavior, not an error

The backtest window continuously reflects the most recent market activity, keeping the strategy view current and relevant.

Alternative Method: Loading a .set File

00:13:39 – 00:15:16

Instead of entering all settings manually, some strategies come with a pre-made .set file that automates the configuration.

To load a .set file:

1. Attach the Breakout Scanner to the chart
2. In the settings panel, click Load
3. Locate the downloaded .set file on your computer
4. Click Open — the scanner will populate all settings automatically
5. Do not forget to enter your license key before clicking OK
6. After clicking OK, adjust the four panel parameters to match the screenshot (Step 9 still applies)

Using a .set file saves time, but the panel parameter values must always be matched manually.

Important: Results Change Over Time

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If you load a strategy — whether from manual input or a .set file — days, weeks, or months after it was originally created, the stats will not match the original screenshot.

This is not a malfunction. Markets change. New candles form. Old trades cycle out of the backtest window. The strategy structure stays the same, but the performance data will reflect current market conditions.

What to do when stats no longer match:

• This is normal — do not expect the same results at a later date
• If the current stats are unsatisfactory, run a reoptimization
• Reoptimization videos are available in the course — refer to those for guidance

Saving Your Strategies

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Once you’ve set up a strategy you want to keep, save it in two ways:

1. Save as a .set file — Click the Save button in the scanner settings panel and store the file on your computer
2. Save a screenshot — Capture the strategy panel to preserve the parameter values visually

Both methods allow you to restore the strategy later, move it to another computer, or share it with others.

Monitoring Performance

Track these key metrics as your strategy runs:

• Win rate percentage
• Maximum consecutive losses
• Return to drawdown ratio
• Total pips/points gained
• Drawdown percentage

Understanding your numbers is crucial to your trading success. Remember, FxMagnetic can only help speed up your strategy development. Your outcomes will still depend on how well you use the software.

Tips for Success

1. Use the same broker as shown in the strategy screenshot (Scandinavian Markets) to get matching results. Different brokers produce different candle data, which affects backtest outcomes.
2. Monitor maximum consecutive losses as an indicator for strategy viability. If live losses exceed the historical maximum from the backtest, consider reoptimizing.
3. Do not judge the strategy solely by what the screenshot shows at creation time. Stats will shift as the market moves — this is by design.
4. Regularly re-optimize your settings to adapt to changing market conditions. Short optimization runs of just a few minutes can surface significantly better parameters.
5. Save both the .set file and a screenshot for every strategy you plan to use long-term. This protects your work and makes it easy to restore across sessions or devices.