Trading utility mt5

1.      On screen simple trade entry dashboard with the following

a.      Input lot size

b.      Manual Trading > Clickable “Buy” and “Sell” buttons. When clicked, a market order is executed using lot size set above for current chart symbol

c.       A “Close all button” – all open trades are closed at market value when this is clicked

d.      A “Move to BE” button. Breakeven is defined as a factor of ATR – default is 1

2.      Set a stop loss as a multiplier of ATR (set ATR period, chart, and multiplier)

a.      When trades are entered by clicking the dashboard

b.      When trades are entered opened or by other EAs are “inherited”, replace SL with this value

3.      Trailing stop loss function to modify stop loss of existing orders

a.      Define when the trailing stop should start. This is set as a multiplier of ATR. Make this input, with 5 as default

b.      After trigger, the ATR stop loss is adjusted to adapt to market conditions (using RSI levels) as follows

                                                              i.      For trailing buy position and RSI adaptability trigger level is set as >= 50, ATR Trailing loss is adjusted by a buy adaptability factor calculated as 1-(RSi/100- adaptability trigger/100). So, if we are trailing a buy position by 100pips and RSI=70

1.      Adaptability factor = 1- (0.7- 0.5) = 0.80

2.      Adjusted trailing loss is 100pips* 0.80 =80 pips

                                                             ii.      For trailing sell open position and RSI is <= 50 ATR Trailing loss is adjusted by a sell adaptability factor calculated as 1-(-(100-RSi/100)+ adaptability trigger/100). So, if we are trailing a buy position by 100pips and RSI=40

1.      Adaptability factor = 1 –((0.50-0.40)) = 0.90

2.      Adjusted trailing loss is 100pips* 0.90 =90pips

c.       Trailing loss level is adjusted only when it offers more protection (shrinking ATR, or RSI spike) – ongoing adaptation