Trading Robots for MetaTrader 4
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MetaTrader 4
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Overview
The Trendline Trade Panel was created to make it easier to train forex trading skills in backtester and at the same time make it easier to live trade using trendlines with the push of a button.
This ea is perfect for beginners who want to learn to trade manually because all of its features are equipped with basic tools for trading forex.
Other uses for Trendline Trade Panel:
+ Can be used to perform recovering loss positions made by other EA or positions that open manually. Fill in magic number=0, then it will automatically recognize all open positions in the symbol/currency.
Main Feature:
1. Manage Open Positions
- Trade Buy: allow buy
- Trade Sell: allow sell
2. Manage pending orders
- Delete trendline after opening a position: set false for continuous pending orders.
3. Manage Lot and Money
- AutoLot (ex. 1000 $ = 0.01): Manage lots
- if AutoLot = true, fill in Money to manage, $: Fill in money to manage (Example: your Balance 1000, fill in 500, Autolot = 1000/500=2 x 0.01 =0.02, so every 500$ increase, the lot will increase by 0.01)
- Lot Type: Select lot type
- Multiplier for Martingale: Multiplier lot coefficient
- Max Lots per Trade
4. Buy Grid Parameters
- Use Hedging Buy: Hedge buy positions
- Use Pyramid Buy: Open a long position if the initial position is profitable
- Use Averaging Buy: Open a long position if the initial position is losing
- Buy Step (in pips): Distance to open the next long position
- Total Buy to Start Expanding Step
- Expanding Step Coefficient Buy: coefficient multiplier
- Maxtrade Buy: Maxtrade Buy allowed
5. Sell Grid Parameters
- Use Hedging Sell: Hedge sell positions
- Use Pyramid Sell: Open a short position if the initial position is profitable
- Use Averaging Sell: Open a short position when the initial position is losing
- Sell Step (in pips): Distance to open the next short position
- Total Sell to Start Expanding Step
- Expanding Step Coefficient Sell: coefficient multiplier
- Maxtrade Sell: Max trade Sell allowed
6. Manage SLTP, BE & Trailling
- Use Stop Loss & Takeprofit: Enable Stop Loss & takeprofit
- Stop Loss (in pips): Stop loss in pips
- Take Profit (in pips): Takeprofit in pips
- Averaging Trailing, in pips: Trailing all in pips
- Trailing Start (in pips): Trailing starts in pips
- Trailling Size (in pips): Step trailing in pips
- Use Break Even: Enable Break even
- Break Even Start, in pips
- Break Even Step, in pips
7. Manage Drawdown Reduction
- Use Auto Close Partial, in pips: close partial in pips
- Select Close Partial Method:
- Close partial buy & sell: partial close by bringing 1 buy loss & 1 sell loss
- Close partial buy / sell: partial close by bringing only 1 buy loss or 1 sell loss.
- Close partial all: A combination of close partial buy & sell and close partial buy / sell.
- Number of trades to activate partial close: Minimum amount of open positions to start applying partial close.
- Minimum profit to close partial : Minimum profit amount to do partial close, in pips.
- Use Auto Close Partial, in percentage: Close partial in percentage
- Number of trades to activate partial close: Minimum amount of open positions to start applying partial close.
- Percentage of profit to close partial%: Minimum profit amount to do partial close, in percentage.
- Auto Close Partial 3: Close partial last position profit and 1st position loss
- Select Close Partial 3 Method : Close Partial Last Position(Profit) or Close Partial 1st Position(Loss)
- if close partial 1st position, fill in min open position to activate close partial
- Lots to start partial closing: minimum lots to activate partial closing 3
- min Profit to close(in pips): Minimum profit to be able to close a position
- Partial close percentage, % : How many % lots will be closed. Ex. 50% x lot 0.1 = 0.05 lot to close partial
8. Time Management
- Trade Start Time: Time to start placing pending orders
- Trade End Time: The time the trading session ends
9. Manage Others
- Max Spread (in Pips): allowed spreads.
- Coefficient (if Freeze = 0 Or StopsLevels = 0): Multiplier coefficient when freezelevel / stoplevel = 0
- Magic Number: EA identifies open positions based on this magic number. Fill in 0 (Zero) so that ea can recognize all positions opened manually or by other eas.
- Text Color: Change the text color
- Line Width: The thickness of the trendline
- Button Corner Side button placement: corner of button placement
