Trading Essentials MT5 instructions

TRADING ESSENTIALS MT5 INSTRUCTIONS

Program version 1.0
Link to the app: https://www.mql5.com/en/market/product/71577

CONTENT

1. INTEGRATION AND COMPATIBILITY
2. INPUTS
1. Default parameters
2. Key binding
3. Leverage settings (See 5.1. "Maximum lot size")
3. INTERFACE
1. Main Panel
2. Opened position panel
3. Settings panel
4. CONTROL
1. Changing parameters
2. Switching between orders
3. Managing positions
1. Close All
2. Close partials
3. Trailing stop
4. Breakeven
5. FEATURES
1. Maximum lot size
2. Timer
3. Spread
4. Risk management
5. Hotkeys
6. Notifications
7. Measurement
8. Pending orders
9. Overlays
10. Chart control

1. INTEGRATION AND COMPATIBILITY

Integration:

Before loading the application on the chart, turn on "Allow algorithmic trading" option in the MetaTrader5 platform. Tools -> Options -> Expert Advisors.

Compatibility:

2.3. Leverage settings.

See 5.1. "Maximum lot size".

3. INTERFACE

3.2. Opened position panel

• The panel presents when 1 or more positions are opened.
• If no positions opened, the panel is hidden.

3.3. Settings panel

*For custom sounds, name and put your "wav" sound files into ...MT5 directory\Sounds\

• Change rates - "customtick.wav";
• Switched to BUY - "buy.wav";
• Switched to SELL - "sell.wav";
• Open position - "open.wav";
• Close position - "close.wav";
• Price notification - "customalert.wav".

4. CONTROL

4.1. Changing parameters

• Click on the text to highlight the parameter change:
• Lot - volume;
• If risk management is activated:
• Risk - amount of risk in currency or pips (if "Risk in pips" is enabled in the settings panel);
• xBa% - percent of risk according to current balance of account.
• P/L ratio - profit to loss ratio.

• There are 4 options to change highlighted parameters:
1. Click +/- buttons, which appear when the parameter is highlighted;
2. Use mouse wheel;
3. Double click on the text to input manually and press Ok button;
4. Enable hotkeys ("K") for the use of keyboard according to the key bindings "increase"/"decrease".

4.2. Switching between orders

• Click on the "Order type" text to change direction between BUY and SELL or enable "hotkeys" feature ("K") in order to use the keyboard according to key binding "Change order direction";
• When mouse pointer is over the "Order type" text, use mouse wheel to change between market and pending orders.
• When pending order is set, the type returns to market order.

    

4.3. Managing positions

4.3.1. Close All

• Click "C ALL" button to close all positions of the current symbol.
• When mouse pointer is over "C ALL" button, and different directions of positions are opened, use mouse wheel to switch among closing all positions, closing all long positions or all short positions.

4.3.2. Close partials

• Click "C x%" button to close all positions  of the current symbol by x percent.
• When mouse pointer is over "C x%" button,  use mouse wheel to switch how many percent to close. Can vary 10 to 90%. Default is 50%.
  
• If "hotkeys" feature ("K") is activated:
• Press the keyboard button "Swap between rates" to highlight "C x%" button.
• Press the keyboard buttons "Increase"/"Decrease" to change values.
• Press the keyboard button "Close Partial" to close partial of all positions.

   

4.3.3. Trailing stop

• Click "TrStp" button to enable "trailing stop" feature.
• Drag the line to desired price level or amount of currency.
• Click "Set" to activate "trailing stop".
• To disable "trailing stop", click "TrStp" or "X" button on the line.

4.3.4. Breakeven

• Click "BrEvn" button to set stop loss for all opened positions  of the current symbol at breakeven level.
• Can be set for positions in profit.
• Commissions are not considered.
• Can be repeated if other positions  of the current symbol turn into profits.
• If "hotkeys" feature ("K") is activated, press the keyboard button "Breakeven".

5. FEATURES

5.1. Maximum lot size

Maximum volume is a passive informative instrument, which shows the available size of volume which can be used for opening the positions according to available margin.

NOTE: Every broker applies different leverage for different pairs. Therefore in order to work correctly the trader has to set the leverage of pairs he used to trade manually. 

Usually, information about leverages of each pair can be found on the broker's website.

List of pairs which support "Maxlot" feature (from A to Z):

• AUDCAD
• AUDCHF
• AUDJPY
• AUDNZD
• AUDUSD
• BRENT
• BTCUSD (BITCOIN)
• CADCHF
• CADJPY
• CHFJPY
• COCOA
• COPPER
• COTTON
• CRUDOIL
• EURAUD
• EURCAD
• EURCHF
• EURDKK
• EURGBP
• EURHKD
• EURJPY
• EURNOK
• EURNZD
• EURPLN
• EURRON
• EURRUB
• EURSEK
• EURUSD
• EURZAR
• ETCUSD (ETHEREUM)
• ETHUSD (ETHER)
• GBPAUD
• GBPCAD
• GBPCHF
• GBPJPY
• GBPNZD
• GBPPLN
• GBPSGD
• GBPUSD
• LTCUSD (LITECOIN)
• NZDCAD
• NZDCHF
• NZDJPY
• NZDUSD
• PLATINUM
• USDBRL
• USDCAD
• USDCHF
• USDCNH
• USDDKK
• USDHKD
• USDJPY
• USDNOK
• USDPLN
• USDRUB
• USDSEK
• USDSGD
• XAUUSD (GOLD)
• XAGUSD (SILVER)
• XRPUSD (RIPPLE)

5.2. Timer

 

Timer is an instrument, which shows the remaining closing time of current candle. 

• Supported timeframes: M1, M5, M15, M30, H1, H4, D1, W1.
• To enable/disable, toggle button "S".

5.3. Spread

• To set a pending order, switch to wanted order type (See 4.2. Switching between orders).
• Click and drag the order line to desired price level.
• To set/remove TP and/or SL levels, press "TP" or "SL" button over the order line. Drag the lines to desired price levels.
• Click "Open position" button (See 3.1. Main panel) to activate pending order.
• When pending order is activated, TP and SL levels can be removed or added.
• To remove - press "TP" or "SL" button over the order line.
• To add  - press "TP" or "SL" button over the order line. Drag the lines to desired price levels. Press "set" button.
• Risk management feature can be used for pending orders.

5.9. Overlays

The "overlays" tool draws higher timeframe candles on the background of the current chart. 

• Allows to quickly determine the price levels of current or previous candles of higher timeframes.
• To enable/disable, toggle buttons "H", "H4", "D", "W".

5.10. Chart control

The "chart control" sets the "Scale fix" parameters automatically to center the chart.

• Function can be turned off in the input settings under "Chart control".
• When price moves, or the chart is scrolled near the edge of the chart window, the button with vertical arrow appears. 
• If the button is pressed, the chart returns back to the center.

• If the chart is scrolled to the left, the button ">>" appears on the lower right corner and "Chart auto scroll" function is automatically disabled.
• If the button is pressed, the chart returns back to the center and present time. "Chart auto scroll" is enabled.
• If hotkeys ("K") is activated, the keyboard numeric button "5" can be pressed instead.