Trading libraries for MetaTrader 4
Shopping cart
The cart is empty
MetaTrader 4
Top Rated Products MT4
Overview
### **ProScalpingToolEA.mq5 Analysis & Description**
**Overview:**
The `ProScalpingToolEA.mq5` script is an Expert Advisor (EA) for MetaTrader 5, designed to assist with automated trading. It includes features for placing, managing, and monitoring trades.
---
### **Key Functionalities:**
1. **Trade Execution & Management:**
- Uses the `CTrade` class from `Trade.mqh` to manage trading operations.
- Allows placing buy and sell orders with a configurable lot size.
- Trades are identified using a unique `magic_number` to differentiate them from manual trades.
2. **Configurable Inputs:**
- `lot_size`: Defines the lot size for each trade.
- `tp_points`: Sets the take profit in points.
- `sl_points`: Sets the stop loss in points.
- `trail_stop`: Implements a trailing stop feature.
- `max_trades`: Limits the number of open trades to prevent excessive exposure.
3. **Graphical Interface (Buttons):**
- Provides buttons to display trade statistics, including:
- Total number of buy/sell trades.
- Total lots traded for buy/sell orders.
- Overall trade count and lot volume.
4. **Risk Management:**
- Implements stop loss and take profit settings to protect capital.
- Uses a trailing stop to lock in profits dynamically as the market moves.
---
### **Conclusion**
This EA appears to be a **trade management tool**, helping traders execute orders, track trade statistics, and manage risk efficiently. It does not seem to contain a complex strategy but rather functions as a utility to assist with manual or semi-automated trading.
