The Expert Advisor sets stop loss and take profit to all orders on the current symbol relative to the common breakeven point in percentage of the deposit. It is very convenient not only for manual trading but also when copying signals and correcting the work of other robots that lack such functionality.
Suppose that you copy signals from a trader who (by your opinion) sets stop orders too far exposing your deposit to an excessive risk. To solve this issue, simply launch the EA on the symbol you are trading, and the robot will correct stop losses and take profit for copied orders according to its settings. The EA settings are quite simple and easy to understand. You can find them below.
Another example: suppose that you use a robot applying martingale and setting no stop losses at all, whereas you need to limit your risks. The current EA will set stop losses at all orders on the current symbol relative to the common breakeven point. Of course, the robot is also indispensable in manual trading.
- VoiceGuidance - voice support for some actions and audio notification;
- TakeProfitPercentage - % of the deposit you want to gain per one trade. Take profit is affected by this value;
- MinimumTakeProfit - minimum distance to take profit in points (if according to calculations, the take profit should be set closer than specified in the parameter, re-calculation is performed so that the take profit is set according to the parameter);
- StopLossPercentage - % of the deposit you are willing to risk per one trade. Stop loss is affected by this value;
- MinimumStopLoss - minimum distance to stop loss in points (if according to calculations, the stop loss should be set closer than specified in the parameter, re-calculation is performed so that the stop loss is set according to the parameter);
- Magic - order ID (if -1, the robot works with all orders regardless of their IDs).
I have also added the order management panel as a bonus. It is quite handy both for real time trading and using the strategy tester allowing you to test indicators and various trading systems that do not open orders on their own.
Below are the parameters necessary for using the built-in order management panel:
- LotsOptimized - auto money management;
- Lots - lot size if the auto money management is disabled;
- RiskPercent - risk % for lot calculation in case of auto money management;
- Slippage - acceptable slippage;
- Comments - display information on the chart.
Below are some other parameters for your convenience:
- ColorX - info panel text color;
- ColorZ - info panel background color.