Trade Easy Panel
Note: a more professional version. Click Quick Panel Pro
This Panel is an Expert Advisor, which integrates a flexible risk control and makes trade easy.
Move the StopLine to adjust stop loss, Check the LotsLabel, and then Click the panel, three steps make a trade under risk control in one second.
- StopLine: move it, the distance from market price is the stop loss. Lots is calculated automatically by the risk control module.
- LotsLabel: it says stop loss in pips and lots.
- Panel: Click the buttons to trade.
- AlertLanguage: Select one from English and Chinese as language for popup Alert.
- Magic: Magic Number of orders opened by this EA.
- MaxBuys: The maximum number of buy orders. If it is 0, there will no limitation.
- MaxSells: The maximum number of sell orders. If it is 0, there will no limitation.
- RewardRiskRation: This is ratio of Take Profit and Stop Loss.
- LotsMode: This is a three-option input. The option is Fixed_Lots, Risk_Money or Risk_Percent.
- FixedLots: If you select Fixed_Lots as LotsMode, the EA will trade with the fixed lots.
- RiskMoney: If you select Risk_Money as LotsMode, the EA will calculate lots by the amount of risk money. RiskMoney means the amount of money that one order would loss.
- RiskPercent: If you select Risk_Percent as LotsMode, the EA will calculate lots by the percent of free margin.
- PanelShiftX: the horizontal space from the right lower corner.
- PanelShiftY: the vertical space from the right lower corner.
- LineWidth: the line width of StopLine.
- LineColor: the line color of StopLine.
- LabelFontSize: the font size of LotsLabel.
- LabelColor: the text color on LotsLabel.
The panel includes two columns. The left column is about sell and the right is about buy.
- sell: open a sell order.
- first: close the first sell order. The first refers to Open Time.
- last: close the last sell order. The last refers to Open Time.
- all+: close sell orders which have plus profits.
- all-: close sell orders which have minus profits.
- All: close all sell orders.
- buy: open a buy order.
- first: close the first buy order. The first refers to Open Time.
- last: close the last buy order. The last refers to Open Time.
- all+: close buy orders in profits.
- all-: close buy orders in loss.
- All: close all buy orders.
How Is Lots Determined?
Lots is determined by risk money, stop loss (pips) and the value of pips.
The risk money is the amount of money that one order would lose.
Stop loss is the distance between StopLine and market price.
Let's say, you select Risk_Money as LotsMode, and set Risk_Money to 50 dollars, the risk money is 50 and move the StopLine to 100 pips from the market price on EURUSD chart. The value of pips for EURUSD is 10, so lots is calculated as below:
lots = 50/(100*10) = 0.05.
In this case, the loss for every order is 50 dollars and it is relatively fixed.
Why is it not absolutely fixed? This is because cross rates have not the fixed pips value, such as EURGBP, EURAUD, AUDNZD.
If you select Risk_Percent and set RiskPercent to 3, let's suppose the free margin is 1000 dollars, the calculation will be as below:
risk money = 1000 *3% = 30
lots = 30/(100*10) = 0.03.
In this case, the loss for every order is not fixed, it will vary as the free margin.
- StopLine is create at the 30 pips above the High of current bar when EA loads.
- StopLine is in the state of being selected when created. This make it easy to move the line. LotsLabel is also convenient to move.
- StopLine keeps its level unchanged when chart is changed to other time frames. It is useful for multi time frame trading.
- If StopLine is above the market price, you can not open buy order, because the stop loss for buy order should be below the market price. If you click buy button, you will get warning. Also, if StopLine is below the market price, you can not open sell order. This feature helps user to avoid fault operation.
- When users click the button to open or close orders, the EA will make a screenshot and save it as PNG image in the MQL4\Files folder.
- The comment of order like "1.28651|1.28659@M5.77", it says the market price (Bid |Ask) is 1.28651|1.28659 when EA sending order, trading is on M5 chart, the magic is 77. Comparing "1.28651|1.28659" with open price, you can check the slippage easily.