Master Levels mt4
- Experts
- Version: 2.14
- Updated: 22 July 2021
- Activations: 7
Master Levels mt4 (version for MT5) analyzes market situation over the last few days and determines current levels. It tracks a breakout (or rebound) of these levels. Trades open in the breakout (rebound) direction.
The EA is fully automated. Master Levels is equipped with a flexible position management system. There is opportunity to close a position with two parts. And there is a feature of a trailing stop, which allows to protect gain profit. Depending on the settings, the EA can work both as a scalper, and as an expert with medium profit targets.
The Master Levels works only on pending orders! It guarantees better order execution on a broker server side.
Features
- An ability to work as a breakout or rebound EA.
- An ability to fix profit by parts
- Trailing stop allows reduce losses and drawdown
- Automatic calculation of lot for any currency depending on risk per trade
- A possibility to flexible set working time and trade pause time intervals
Default settings are optimized for EURUSD
Volume calculation
The volume value is either fixed (Fixed volume) or calculated based on the risk per trade (Risk per trade). A fixed lot is used when Risk per trade = 0.
Partial closure
Partial closure closes only one part of a position! There is a setting of percentage of the volume for partial closure. The target in points of partial close is set in percentage of the total Take Profit target, where 100% is the Take Profit equivalent of the position. For example, Take Profit = 500 points (5 digits). If you set Percent of TP points to close = 60%, then the first part of the position will be closed at 500 * 0.6 = 300 points.
Trade pause intervals
Trailing stop
Trailing stop activation distance is the movement distance from open price to profit. The stop never moves upward.
Parameters
Trading Logic
- Days analyze - The number of days to detect levels. The latest days are considered, including the current
- Level amplitude - The minimum required amplitude for levels detection. The price should pass the specified distance on both sides of a level to detect (5 digits, points)
- Entry shift - Entry distance. Offset in points from a level, where entry is made. Negative value - entry on reaching the level. Positive values - after crossing the level
- Trade mode - Mode of the EA work. BREAKOUT a level or REBOUND from the level
- Working time string - (more details about format above)
- Pause intervals string - (more details about format above)
Risk parameters
- Fixed volume - Fixed volume. Used only when Risk per trade = 0
- Risk per trade - Percentage of the deposit for one transaction. If 0, then Fixed volume is used
- Stop Loss - Stop value in points (5 digits, points)
- Take Profit - The amount of profit (5 signs, points)
- Close opened positions when out of working time - Close current open positions when not working time begins (true/false)
Position management
- Enable partial close - Enable / disable partial close
- Enable breakeven after partial close - Enable / disable setting a stop to breakeven after closing part of a position
- Percent of TP points to close - Percentage of Take Profit of a position for the partial close (for more details, see the Partial Close section)
- Percent of volume to close - The percentage of a volume of an open position for partial close
- Enable trailing stop - Enable / disable trailing stop
- Activation distance - Distance to profit for starting the trailing stop (5 signs, points)
- Trailing distance - Distance of pulling up a stop level. The stop size will be adjusted to this distance (5 characters, points)
Other
- Levels color
- Levels line style
- Magic
- Comment
I'm Trading with bigger SL and trailing.Not many trades but stable profit.Good EA.