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Open lock

The Expert Advisor helps reduce the account drawdown.

To do this, the losing deal is split into multiple small parts, each of these parts is closed separately.

The EA can interact with other experts. For example, when a certain drawdown is reached, Open Lock can disable the other expert and start working with its orders.

Open lock for MetaTrader 5 is available here


Methods used by the EA

  1. Locking to prevent a drawdown increase
  2. Averaging orders used to cover the loss
  3. Partial closure to reduce the load on deposit

Averaging orders are opened with a small lot so as not to load the deposit.

Profit of these orders is used to partially close the losing position.

Recommendations on setting up and using Open Lock are described in the blog


Expert Advisor Parameters

  • Language - interface language of the control panel
  • Magic Number - unique identifier of averaging orders. It must not coincide with the magic numbers of other EAs
  • Trading mode - trading mode
    • Opening and closing orders - open and close orders in normal mode
    • Only closing orders (Another advisors will open orders) - the EA will only close and lock (if enabled) positions. Orders must be opened by another EA. The EA will work only with the orders that have been opened with the magic number of the Open Lock EA
  • Maximal lot in average ord (0-not used) - the maximum lot to be opened by the EA in an averaging order. If 0, the lot size is not limited
  • Maximal number average ord in one direction (0-not used) - the maximum number of averaging orders in one direction
  • Maximal step (0-not used) - the maximum step (in pips) that can be set between averaging orders. If 0, the step is not limited. This parameter is only used if the dynamic step is enabled
  • Start work - when to start working
    • At startup - right after starting
    • By drawdown level - after reaching the drawdown level
  • Drawdown in currency - drawdown value in the deposit currency (it must be specified in case 'By drawdown level' is selected)
  • Stop another advisors - stop the operation of other experts in the terminal (works only when the drawdown level is reached)
    • Not use - disable this feature
    • Close chart with same symbol (for single currency advisor's) - close charts of the current symbol. Charts of other symbols will not be closed
    • Close all other charts (for multicurrency advisor's) - close other charts to disable the operation of other experts
  • Action when the risk limit is reached - actions for critically low level of free margin (action is activated 30 seconds after the drawdown is reached)
    • Nothing
    • Locking all positions and stop
    • Сlose all position and stop
  • Equity level in currency - equity level, below which the actions from the previous parameter are triggered (if 0, not used)
  • Equity level in percent - drawdown percentage. If higher than 0, and Action when the risk limit is reached - None, the drawdown value will be displayed on the control panel
  • Time to open orders - time when opening averaging orders is allowed
    • All time
    • Schedule for opening average ord(24H) - allowed time interval
  • From - time to start trading if scheduled trading is selected (can take values from 0 to 23)
  • To - time to stop trading if scheduled trading is selected (can take values from 0 to 23)
  • Settings - how to set the EA parameters
    • Use control panel
    • Use expert inputs - parameters must be set in the EA inputs. This mode should be used when working with VPS by MetaQuotes
  • Locking - enable locking losing positions
  • New lot - lot size for the first position
  • Dinamic lot - enable the lot multiplier. If this parameter is enabled, the lot size of the new deal will be multiplied by the coefficient
  • Lot multiplier size - lot multiplier
  • Step - step for opening new orders
  • Dinamic step - enable the step multiplier
  • Step multiplier size - step multiplier
  • Direction - trading direction for the EA
    • UP/DOWN - the EA will open both buy and sell deals
    • UP - the EA will only buy
    • DOWN - the EA will only sell
  • Close orders - orders for the EA to work with
    • All unprofitable orders - all losing orders
    • One order - order with the ticket specified below
  • Order ticket if set "One order" - order ticket, if the "One Order" mode is selected above
  • Close lot - lot of the losing deal to close
  • Close profit - profit to be gained form closing a part of the losing order


Testing

When you start the Expert Advisor, it opens a deal and then tries to close it with a profit.

To open additional market orders, you can use buttons on the control panel.

alex4ua
21
alex4ua 2018.10.26 09:08 
 

Very weird algorithm. You need year of time to get some result. Or it rather empty your deposit. Vary bad EA.

Tran Trung Tin
53
Tran Trung Tin 2018.10.20 08:13   

hello, i just bought your cbot open lock. I use the cents account of Exness broker, but somehow cbot does not close all commands on the command line when the line touches and close the order in any place. Can you help me solve this problem ?? Thank you . I think this broker can use cents as decimal units of dollars so cbot do not understand to close the position command line command closed on cbot

BRADLEY PATRICK
736
BRADLEY PATRICK 2018.10.03 09:48 
 

This EA has a high drawdown.

Евгений
17
Евгений 2018.09.06 10:57 
 

Отличный агрегат!

Можно сравнить с лего-конструктором или даже с трансформером, когда из маленькой начальной заготовки получается вылепить солидного монстра. Т.е. - не только разрулировать локированные позиции, но и реализовывать множество алгоритмов торговых стратегий.

ncharms
53
ncharms 2018.08.28 03:55 
 

This is the indicaror what I want to use.

If you have the enough equity and use the right setting, there will be good results.

B2416522
65
B2416522 2018.08.01 21:13 
 

Very smart EA, it helped me to recover from a 18% DD on a real account. it is advisable that you read the manual from the author to properly set up the expert. Now I always use it with other Expert.

thanks Sergey!

Vhug84
386
Vhug84 2018.06.11 14:23 
 

Good EA, I had a large float in my account that could not close, with OL little by little I closed positive my losses.

RedBull
896
RedBull 2018.06.10 21:54 
 

smart ea

Priit Poltsama
85
Priit Poltsama 2018.06.09 19:18 
 

Great EA and good support from author.

Five stars.

Kevin Warwood
76
Kevin Warwood 2018.06.03 08:27 
 

With the recent DD in EURUSD I rented this to see if it could solve a couple of bad trades. I figured out how it worked..... it takes an equalising trade immedaitely, then it makes and opposite trade by 2 (a buy as the market fell in this case) and if the market keeps falling, it then buys a trade by 3, then 4 and 5 etc etc. Clearly with the market not stopping, it smashed my account. Be aware that this EA will solve small DD but you must have a massive account to solve big DD or a EUR trade right now.

Luigi Salvatores Buigues Morillo
802
Luigi Salvatores Buigues Morillo 2018.05.06 02:04 
 

Muchas graciass .muy bueno

Eric Emmrich
1304
Eric Emmrich 2018.03.29 18:16 
 

If applied correctly to current market conditions, this EA gives constant profits while silently reducing the drawdown. Truly genius system!

Anestesist
19
Anestesist 2018.02.18 18:11 
 

Робот шикарен. Депозит возвращает уверенно. Очень удобно когда нет возможности постоянного контроля. Автор молодчик!!!

Francisco Reyes
812
Francisco Reyes 2018.02.13 12:42 
 

En mi opinión un EA magnífico.

Aunque tiene algunos detalles que podrian mejorarse (entre ellas que por el momento no soy capaz de hacerlo funcionar en un VPS)

le doy 5 estrellas porque pienso que es muy bueno.

Lo he probado y probado y es capaz de sacarte de perdidas en muchas situaciones.

Ademas de poder utilizarlo junto a otros EA que tengas,puede ser utilizado de forma individual para operar.

Buen trabajo de Sergey,como ya digo tiene cosas que pueden mejorarse pero sigue siendo un gran EA,para mí de lo mejor que he encontrado en el mercado.

-Actualizo mi comentario del dia 15-11-2017: Tras esta ultima actualización Sergey ha añadido la opción de poder utilizar OL en servidores VPS de MQL5.

Los que utilizamos estos VPS ahora tenemos la opción de poder utilizar OL sin problemas.

Enhorabuena,muchas gracias por tu EA y por ayudar a los usuarios que adquirimos OL.

Denis181986
270
Denis181986 2018.02.05 11:27 
 

шикарно выгреб меня и многих просадок , поддержка на уровне

Cristian Mantovani
686
Cristian Mantovani 2018.01.26 10:50 
 

Very valid.

I enter the orders by moving the entrance depending on the Fibonacci lines.

Michail Smikov
198
Michail Smikov 2018.01.23 08:06 
 

I have been using OpenLock for about 6 months. The result is very good depending from currency pair.

First my account IC Markets, Deposit 1200, Equity 700, drawdown 40%. All orders opened on EURUSD. OL close all orders with profit for 2 month. Its very good result.

Second account FX PRO. Deposit 5K, Equity 4500, drawdown -500USD. Currency pair AUDUSD. All orders closed for 1 week.

I use UP/DOWN direction and step for 450, and set 1/3 lot from far order. Its my best parameter set.

Great EA. Sergey is very fast at giving support and is always there if you have a question.

I recommended this EA!

Maksim Uzakov
218
Maksim Uzakov 2018.01.22 20:27 
 

робот наверное хорошь как говорят, но совершенно не работает на впс встроенном в терминал. чего автор забыл указать! деньги на ветер!

Sairoong Kidtook
502
Sairoong Kidtook 2018.01.01 19:19 
 

Bloc your trade, and scalp all profit close partial manual and is better, i not give good review for martingale i don't like martingale, very dangerous EA if trend go another way, example last week euro don't stop up and EA don't stop sell sell sell very dangerous i not recommend !!

remsgits
437
remsgits 2017.12.21 16:06 
 

So far so good thanks for Sergey!

Андрей Люляев
278
Андрей Люляев 2017.12.05 13:03 
 

User didn't leave any comment to the rating

vcmet
484
vcmet 2017.12.04 11:00 
 

Очень понравилась сова. Висит просадка по фунту. Поставил очень не агресивные настройки. Сова понемногу начинает отыгрывать просадку. То что пишут что опасно и что это мартышка-ответ один это какие настройки поставите. Как на меня пусть и пару недель отыгрывает но спокойно чем сидеть и дрожать и верить что за день два и ты в "шоколаде". Сергей очень и очень отличная разработка!!!

20/10/2017 Сова работает месяц. Показала себя с найлутчшей стороны.(Вытягивает фунт с глубокой просадки. Настройки не агресивные) Все совы в маркете работают на заработок(слив) а эта на спасение депозита. Должна быть у каждого трейдера. Однозначно 5 звезд если не больше!!!

04/12/2017 Сова вытянула швейцарца на отлично. По фунту дальше вытягивает. ситуация с ним сложнее так как лок очень большой что в лотах что в растоянии и ходит этот фунт тоже прилично. Да и вытягивал я две пары одновременно, хотя надо как советует Сергей по одной.

Arthit Arunroj
1669
Arthit Arunroj 2017.11.28 19:53 
 

Excellent EA. :-)

Have had Open lock running on a real account.

:: Myfxbook :: http://bit.ly/myFxbook

Morard Kevin
881
Morard Kevin 2017.11.22 19:40 
 

Super Ea, OpenLock m'a sauvé plusieurs comptes en déficit! Pas cher pour ses performances

mbillengren
19
mbillengren 2017.11.12 04:55 
 

it works good. I used it on a slave Mt4 vere trades are copied to. The last 2 months my portfolio is down 20% but this EA on the slave platform that recieves the trades by copying is up 11%. So it has turned 20 % drawdown to a 11 % profit. I do not know how it works in trending markets since the markets has been ranging since my purchase of this EA.

geanger
190
geanger 2017.10.05 19:05 
 

A very good EA, I use it together with other robots to limit the drawdowns at a comfortable level for myself.

Dmozolev
19
Dmozolev 2017.10.04 17:54   

Советник крут. С просадкой справляется хорошо. И очень огромный респект автору. Он всегда на связи и готов помочь.

Manabu Yanagita
966
Manabu Yanagita 2017.09.22 12:54 
 

It is dangerous if the funds are not big.

After all it is Martin...

maxim101
763
maxim101 2017.08.31 15:23 
 

Этот EA не для торговли, а для спасения депозита при просадке. Чудес не бывает, но шансы очень высокие. Поддержка великолепная. Автору спасибо!

Update: Версия 5.2 радует своими новыми функциями.

Daniel Laverdiere
807
Daniel Laverdiere 2017.08.18 12:08 
 

Excellent algo so far all in profit.

Grids and martingale always make me wonder, but here you do have a little twist that makes sense.

The equilibrium between averaging and hedging is very important. Always keep in mind software builder to protect the equity.

Aleksandr Polyakov
148
Aleksandr Polyakov 2017.08.14 14:57 
 

Excellent advisor! Quick support and valuable recommendations from the author.

This is the best solution for those who want to quietly reduce the drawdown on the account. Many thanks to the author for this algorithm !!!

Miki L
555
Miki L 2017.07.28 14:59 
 

Робот сделан хорошо! Автору спасибо!

Version 5.11 2018.11.05
-improved compatibility with the OL panel
-bugs fixed
Version 5.10 2018.11.02
-Trading algorithm has been changed, the Simple Trend Protest function has been added (enabled in inputs)
-Added automatic calculation of high-risk parameters
-The algorithm for calculating the parameters has been significantly updated
-Calculation and selection of parameters is available before the drawdown of 75%
-The chart displays future levels of opening trades, lots, and the projected loss for recoilless price movement.
-The screen displays information about the actions of the adviser on opening and closing deals
-Information about current drawdown is added to the screen
-All advisor transactions are displayed on the main screen, even if they are not involved in trading
-Calculation of order closing levels has become more accurate
-Updated OLAPI, added new features
-Changed the functionality of the Open Lock panel (previously called the control panel)
Version 5.9 2018.06.20
- Added Open lock API. The functions facilitate the integration of the OL EA with other experts, and also allow developing plug-ins for expanded features
- OL API allows you to remotely change any settings of the EA
- OL API allows you to open/close and modify orders
- Added the ability to disable removing of stop levels
- Added the ability to set a range of magic numbers for the EA to ignore. (This allows using multiple strategies on a single currency pair)
- Fixed various bugs from previous versions
Version 5.8 2018.03.28
- Open Lock can now calculate the parameters for trading. This mode is currently being tested and is only available in online trading, with a drawdown of less than 50%. You can choose a low or medium risk level.
- Added a button for manually closing a part of the losing deal, in the case there is a profit.
- Added a button for manually closing the profitable positions of the EA. It can be useful if the deals were opened with large volumes.
- When working with the disabled control panel, the EA's settings are displayed on the chart.
- Fixed calculation of closing levels. The level is calculated more accurately and on any instruments, but it does not take swaps and spreads into account.
- When working with one deal, the EA will store the ticket of the deal in case of a terminal failure.
Version 5.7 2018.02.13
- Levels for closing positions, displayed on the chart.
- Added the ability to set the parameters in the EA settings, without using the control panel. This mode should be used to run the EA on the VPS by MetaQuotes.
- Made corrections to rounding of lots when the multiplier is used.
Version 5.6 2017.11.28
- Drawdown value can be set in percent. Parameter: Equity level in percent. If the parameter is greater than 0, the drawdown value is displayed on the control panel.
- Changed the Close Only mode. Buy deals opened by another expert will be used for closing unprofitable Buy deals, sell deals will close unprofitable sell deals.
- Added support for the DrowdownSYL, BalanceAndEquitySYL indicators. They plot a graph of changes in the level of drawdown, balance and equity. They work in the tester and in live trading. (https://www.mql5.com/ru/blogs/post/711734)
- Added comment text when opening orders
- Minimizing and maximizing the panel is now more convenient
- Fixed various visual errors
Version 5.5 2017.10.04
In the parameters:
- Ability to turn off the opening of orders. Then the EA will work only on locking and closing positions. Another EA should open trades
- Ability to limit the maximum number of open orders

Added actions for achieving critical drawdown
 - Close all positions and stop
 - Close all positions and stop

Disabling other Expert Advisors:
 - It is possible to close only the charts with the current symbol

In the control panel:
- Single on/off ratio for the step and for the lot
- Tooltips for all elements
- Moving control panel
- Minimize control panel (double click at the top)
Version 5.4 2017.09.13
- Fixed the EA's algorithm for trading in one direction
Version 5.3 2017.09.05
-Added parameter which limit the maximum lot
-Added a dynamic step when opening new orders
-Various visual and program changes
-Updated the overview of the adviser
Version 5.2 2017.08.29
- Automatic start when reaching the level of drawdown (set in the deposit currency)
- Disabling other EAs (if another EA has accumulated a drawdown, then Open Lock will turn it off and take the trade on itself)
- Open orders at a specified time (you can specify an interval when there is no news)
Version 5.1 2017.08.01
Changed the default parameters for testing as well as the color of price levels