TradingLab Trade Panel Pro - User Manual
Introduction
TradingLab Trade Panel Pro is a comprehensive MetaTrader 5 (MT5) Expert Advisor designed to enhance your trading experience with advanced order management, risk control, and automated trading features. This panel provides an intuitive interface for executing trades, managing positions, and protecting your account from excessive drawdowns.
Key Features
- Advanced Order Placement - Visual drag-and-drop order placement directly on the chart
- Risk Management - Automated lot sizing based on risk percentage and stop loss
- Position Management - Partial closes, break-even, reverse, and bulk closing options
- Stealth Orders - Virtual orders with hidden stop loss and take profit levels
- Trailing Stops - Multiple trailing stop modes (Simple, Candle High/Low, ATR-Based)
- Drawdown Protection - Automatic position closure when daily loss limits are breached
- Rollover Management - Automated position closing/reopening to avoid swap charges
- Economic Calendar - High-impact news events displayed on your chart
- Sound Alerts - Audio notifications for order fills, spread warnings, and more
- Dark/Light Themes - Customize the panel appearance to your preference
Installation
Step 1: Copy Files
- Open your MetaTrader 5 data folder (File → Open Data Folder)
- Navigate to MQL5\Experts\
- Copy the TradingLab Trade Panel Pro.ex5 file to this folder
Step 2: Attach to Chart
- Drag the EA from the Navigator onto any chart
- Set "Allow AutoTrading" to Yes
- Click OK to attach the panel
Interface Overview
The trading panel consists of five main tabs, each providing access to specific trading functions. The panel can be collapsed for a cleaner view and supports both dark and light themes.
Tab Navigation
| Tab | Icon | Purpose |
|---|---|---|
| Trade | [T] | Order placement and risk management |
| Positions | [P] | Open position management and exposure |
| Stealth | [S] | Virtual orders and hidden SL/TP |
| Options | [O] | Configuration and settings |
| Equity | [E] | Drawdown protection and rollover |
Trade Tab
The Trade Tab is your primary interface for placing new orders. It combines risk management controls with order placement buttons.
Risk Management Section
Located at the top of the Trade Tab, this section helps you calculate appropriate position sizes based on your risk tolerance.
Quick Risk Buttons
Three preset risk buttons allow instant risk configuration:
- 0.5% - Conservative risk per trade
- 1% - Moderate risk per trade (default)
- 2% - Aggressive risk per trade
Risk Slider
For precise risk percentage adjustment:
- Range: 0.1% to 10%
- Function: Drag the slider or click on the bar to set your desired risk percentage
- The lot size will automatically recalculate based on your risk setting and stop loss distance
R:R Ratio (Reward to Risk)
The Reward-to-Risk ratio determines your potential profit relative to your potential loss:
- Input Field: Enter a value between 0.1 and 20.0
- Lock Icon: When unlocked, adjusting stop loss will automatically adjust take profit. When locked, both levels move together proportionally.
- Default: 2.0 (2:1 ratio)
Lot Size Display
Shows the calculated lot size based on:
- Your selected risk percentage
- Distance to your stop loss
- Account balance and symbol specifications
You can manually override the calculated lot size by entering a custom value.
Potential Risk/Reward Display
Two displays show your potential outcomes:
- Risk ($): Shown in red - your potential loss if the stop loss is hit
- Reward ($): Shown in green - your potential profit if take profit is reached
Order Placement Section
The main order placement area contains:
Buy and Sell Buttons
- BUY Button (Green): Places a market buy order or sets up buy pending orders
- SELL Button (Red): Places a market sell order or sets up sell pending orders
Execution Mode Toggle
Two mode buttons control order execution:
- MARKET Mode: Orders execute immediately at current market price
- PENDING Mode: Orders are placed as pending orders (Buy Stop, Sell Stop, Buy Limit, Sell Limit)
When in PENDING mode, additional controls appear:
- EXECUTE Button: Activates the pending order setup on the chart
- CANCEL Button: Cancels the pending order setup
Market Watch Section
The Market Watch panel displays:
- Live bid/ask prices for multiple symbols
- Click any symbol to switch your focus to that instrument
- Color-coded price changes (if enabled in terminal settings)
Positions Tab
The Positions Tab provides comprehensive management of your open trades and market exposure.
Position Management Section
All open positions for the current symbol are displayed with the following controls:
Partial Close Buttons
Close a portion of your position without exiting entirely:
- 25% - Closes one-quarter of the position
- 50% - Closes half of the position
- 75% - Closes three-quarters of the position
Bulk Action Buttons
- CLOSE ALL (Red): Closes all positions for the current symbol immediately
- BREAK EVEN (Orange): Moves the stop loss to the entry price, eliminating risk
- REVERSE (Blue): Closes the current position and opens an equivalent position in the opposite direction
- CLOSE WINNERS (Green): Closes only profitable positions
- CLOSE LOSERS (Red): Closes only losing positions
Exposure Section
The exposure panel shows aggregated position data across all symbols:
| Column | Description |
|---|---|
| Symbol | Trading instrument name |
| Deals | Number of open positions |
| Buy Lots | Total buy position size |
| Sell Lots | Total sell position size |
| Net Lots | Net exposure (Buy - Sell) |
| Profit | Current floating profit/loss |
Per-Symbol Controls
- Close Button (X): Closes all positions for that specific symbol
- CLOSE ALL POSITIONS: Closes all open positions across all symbols
Stealth Tab
The Stealth Tab enables virtual order management, allowing you to place orders with hidden stop loss and take profit levels that brokers cannot see.
Stealth Mode Section
Enable/Disable Toggle
When enabled, the stealth mode creates pending orders that:
- Trigger without revealing your intended stop loss and take profit levels
- Execute virtual SL/TP levels once the position is opened
- Protect your trading strategy from broker observation
Virtual Orders Section
A table displays all active virtual orders with the following information:
| Column | Description |
|---|---|
| Symbol | Trading instrument |
| Lot | Position size |
| Price | Pending order trigger price |
| SL | Hidden stop loss level |
| TP | Hidden take profit level |
Virtual Order Controls
- Delete (X): Removes an individual virtual order
- CANCEL ALL VIRTUAL ORDERS: Removes all pending virtual orders
OCO Orders (One-Cancels-Other)
To create OCO orders:
- Place two pending orders in opposite directions
- When one order triggers, the other is automatically cancelled
- Both orders share the same virtual SL/TP levels
Options Tab
The Options Tab contains all configuration settings for customizing the trading panel behavior.
Trailing Stop Section (Collapsible)
Trailing stops automatically move your stop loss to lock in profits as price moves in your favor.
Trailing Mode Dropdown
| Mode | Description |
|---|---|
| Off | No trailing stop active |
| Simple | Fixed distance trailing stop from price |
| Candle High/Low | Trails to the high/low of N candles |
| ATR-Based | Trails at a multiple of ATR distance |
Simple Trailing Settings
- Trail (pips): Distance in pips to trail the stop loss
- Activate (pips): Price movement required before trailing begins
Candle High/Low Settings
- Trail (pips): Buffer distance beyond the candle high/low
- Lookback: Number of candles to consider for the high/low calculation
ATR-Based Settings
- Trail (pips): Base ATR distance
- Multiplier: ATR multiple for the trailing distance
- Lookback: ATR calculation period
News Section (Collapsible)
Economic Calendar
The panel fetches high-impact news events from the ForexFactory API:
- Enable/Disable Toggle: Turn calendar integration on or off
- News Lines Toggle: Draws vertical lines on the chart at news event times
- Update Interval: How often to refresh calendar data
Visual Indicators
- Red Lines: High-impact news events
- Hover Information: News details when hovering over lines
- Warning Distance: Alerts when price approaches news time
Theme Section (Collapsible)
Theme Toggle
- Dark Mode: Dark background with light text (default)
- Light Mode: Light background with dark text
Sound Alerts Section (Collapsible)
Configure audio notifications for trading events:
Master Enable
Toggle all sound alerts on or off.
Individual Alert Types
| Alert | Trigger |
|---|---|
| Order Fill | When any order is successfully executed |
| Spread Warning | When spread exceeds your threshold |
| Trailing Move | When trailing stop modifies your stop loss |
| Order Rejected | When an order fails to execute |
| Breakeven Hit | When position reaches break-even price |
Volume Slider
Adjust the volume level for all sound alerts (0-100).
Spread Threshold
Enter the spread level (in pips) that triggers the spread warning alert.
Equity Tab
The Equity Tab provides drawdown protection and rollover management features to protect your account.
Drawdown Protection Section
Current Daily Loss Display
Shows your current drawdown as a percentage of your starting daily equity.
Daily Loss Limit
- Input Field: Enter the maximum daily loss percentage allowed
- Default: 5% (recommended range: 3-10%)
- When breached, all positions are automatically closed
Equity Floor
- Input Field: Enter an absolute equity level that triggers protection
- Useful for accounts with frequent deposits/withdrawals
AUTO-CLOSE Toggle
When enabled:
- Automatically closes all positions when limits are breached
- Displays a warning notification
- Prevents further trading until the next trading day
Rollover Section
The rollover feature helps manage positions through weekend closures:
Enable/Disable Toggle
Activates automated position rollover management.
Close Time
- Input Format: HH:MM (24-hour format)
- Example: "22:00" closes positions at 10 PM
Reopen Time
- Input Format: HH:MM (24-hour format)
- Example: "00:05" reopens positions at 12:05 AM Sunday
Rollover Process
- At Close Time: All positions are closed with stored parameters (lots, type, SL/TP in pips)
- During rollover: Positions remain flat, no exposure
- At Reopen Time: Same positions are reopened with original SL/TP levels
- Benefit: Avoids weekend swap charges while maintaining market exposure
Chart Visual Order Placement
The TradingLab panel provides an innovative visual order placement system directly on your price chart.
Visual Components
When placing an order, three horizontal lines appear on the chart:
| Line | Color | Function |
|---|---|---|
| Entry | Blue | Pending order trigger price or market entry |
| Stop Loss | Red | Price level to exit at a loss |
| Take Profit | Green | Price level to exit at a profit |
Visual Panels
Above each line is a panel displaying:
- Current price level
- Distance in pips from entry
- Potential profit/loss in currency
Interaction
- Click and Drag: Click on any line and drag to adjust the level
- Real-Time Updates: Panels update instantly as you drag
- Chart Scale Sync: Lines maintain correct positions when zooming
- Scroll Wheel: Adjust line position with mouse wheel when hovering
Order Types
| Type | Visual Behavior |
|---|---|
| Buy Market | Entry line hidden (uses current price) |
| Sell Market | Entry line hidden (uses current price) |
| Buy Limit | Entry below current price |
| Sell Limit | Entry above current price |
| Buy Stop | Entry above current price |
| Sell Stop | Entry below current price |
Line Appearance
- Solid Lines: Active order placement mode
- Dashed Lines: Orders placed, awaiting execution
- Filled Areas: Shaded regions between entry and SL/TP
Hotkeys
When hotkeys are enabled, use keyboard shortcuts for quick actions:
| Key | Action | Description |
|---|---|---|
| B | Buy | Execute a buy market order |
| S | Sell | Execute a sell market order |
| C | Close All | Close all open positions |
| Escape | Cancel | Cancel active order lines |
| P | Screenshot | Capture chart image |
| T | Toggle Trailing | Enable/disable trailing stop |
| L | Toggle Lines | Show/hide order lines |
Configuration
Hotkeys are disabled by default. To enable:
- Go to Options Tab → expand General section
- Toggle "Enable Hotkeys" to ON
- Configure custom key bindings if needed
Configuration Settings
These settings are configured when attaching the EA to a chart.
General Settings
| Setting | Default | Description |
|---|---|---|
| Magic Number | 123456 | Identifier for EA's trades (allows multiple EAs) |
| Show Panel | Yes | Display panel on chart load |
| Enable Hotkeys | No | Enable keyboard shortcuts |
Risk Settings
| Setting | Default | Description |
|---|---|---|
| Default Risk | 1.0% | Initial risk percentage for new trades |
| Default R:R | 2.0 | Default reward-to-risk ratio |
| R:R Locked | No | Lock TP when SL is moved |
Spread Settings
| Setting | Default | Description |
|---|---|---|
| Spread Threshold | 3.0 pips | Alert when spread exceeds this level |
Trailing Stop Defaults
| Setting | Default | Description |
|---|---|---|
| Trailing Mode | Off | Initial trailing mode |
| Trail Pips | 20 | Default trailing distance |
| Activate Pips | 10 | Default activation distance |
Troubleshooting
Panel Not Appearing
- Check if AutoTrading is enabled (top toolbar in MT5)
- Right-click chart → Templates → Save Default Template
- Try attaching the EA to a different chart
- Check the Expert Advisors log for errors
Orders Not Executing
- Verify AutoTrading is enabled
- Check margin sufficiency
- Ensure market is open for the symbol
- Check for requotes or broker execution delays
- Verify no automated trading restrictions
Trailing Stop Not Working
- Confirm trailing mode is enabled in Options Tab
- Check that "Activate Pips" distance has been reached
- Verify the symbol supports trailing stops
- Check for broker restrictions on SL modification
Sound Alerts Not Playing
- Check master volume on your computer
- Verify Sound Alerts are enabled in Options Tab
- Check individual alert types are enabled
- Ensure MT5 has permission to play sounds
- Try changing the volume slider and toggling alerts
Virtual Orders Not Hiding SL/TP
- Confirm Stealth Mode is enabled
- Virtual orders hide SL/TP from broker order window
- Actual execution will still honor those levels
- Check virtual orders table in Stealth Tab
Economic Calendar Not Loading
- Verify internet connection
- Check ForexFactory website accessibility
- Try adjusting the update interval
- Restart the EA to refresh calendar data
High CPU Usage
- Reduce chart history loaded
- Disable unnecessary visual features
- Close extra chart windows
- Limit the number of symbols in Market Watch
Tips and Best Practices
Risk Management
- Never risk more than 1-2% per trade
- Always use stop losses on every trade
- Use R:R ratios of at least 1:2
- Review and adjust daily loss limits regularly
Panel Organization
- Save different EA configurations for different strategies
- Use color-coded templates for different timeframes
- Keep the panel expanded when actively trading
- Collapse when analyzing charts only
Performance Optimization
- Limit the number of open charts with the panel
- Disable unused alerts and notifications
- Use reasonable ATR lookback periods
- Avoid excessive rollover reopening frequency
