Smart Basket Manager
- Utilities
- Version: 1.0
- Activations: 10
Smart Basket Manager
Overview
Smart Basket Manager is a trade management utility for MetaTrader 5. It is designed for traders who open several positions on a symbol and want to manage them together as one basket. It does not open trades and does not generate entry signals. It manages positions that already exist, according to the rules below.
What it does
- Basket profit protection. When the combined profit of the managed positions reaches a start level, the utility locks a percentage of the highest profit reached. The lock rises as profit rises. If profit falls back to the lock, all managed positions are closed, largest lots first, and the close is retried until the basket is flat.
- Recovery BE. Press ARM BE when the basket contains losing and winning positions. When basket profit reaches the target, the utility closes the losing positions, keeps the winning positions, and places stop-loss orders on the winners to cover the realized loss plus the target. The basket profit protection then continues on the remaining positions.
- Mixed baskets. Protection works on the net profit of the basket, so a basket with several winners and one smaller loser is also protected.
- Individual break-even. Optional and off by default. Moves a single position to break-even when it reaches a set profit.
- On-chart dashboard. Shows total profit and loss, open lots and number of positions, BUY and SELL lots and profit, the current lock level, the highest profit reached and the active mode. A dashed line on the chart marks the price at which the basket will close.
- Buttons: ARM BE, CANCEL BE, RESET TRAIL, CLOSE PROFIT, CLOSE LOSS, CLOSE ALL, CLOSE BUY, CLOSE SELL and FULL RESET.
Main inputs
Symbol and magic number filters, manual and Expert Advisor trades, trail start, protection percent, minimum locked profit, lock update step, optional minimum give-back, Recovery BE target, individual break-even settings, deviation, fast close mode, panel position and scale. All money values are in account currency for the whole basket.
How to use
Attach the utility to the chart of the symbol you trade and set the start level, protection percent and minimum lock to values that suit your position size. Open your positions in the usual way. Protection starts when basket profit reaches the start level. In the Strategy Tester, use visual mode and open positions manually to see the utility work.
Important operating information
Smart Basket Manager is a trade management tool, not an entry strategy. You remain responsible for your entries, position sizing and account risk.
Basket protection is virtual. The MetaTrader terminal or a VPS must stay running and connected to the trading account for the utility to close a basket. The protection level is not stored at the broker. Stop-loss orders placed by Recovery BE and Individual BE are stored at the broker.
Positions are closed at market price. Disconnection, terminal shutdown, price gaps, slippage and broker execution conditions can cause a basket to close below the protected level. Money-based settings behave differently at different lot sizes, so test on a demo account first. The utility is designed for hedging accounts.
Trading involves risk. This utility does not guarantee profits and does not prevent losses.
