Quick Panel Pro
This Expert Advisor is a professional trading tool, which integrates a flexible risk control and six groups of trading panels.
- Calculating lots is easy and fast: when you move the StopLine, the calculation is processed at the same time.
- Most trading operations can be quickly made by clicking the button on these panels.
- Changing panels is quick just by clicking the green button.
- The EA can run on visual chart in the strategy tester, which provides an easy method to practice trading on history data.
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 in profit.
- all-: close sell orders in loss.
- max+: close sell order with the maximum profit.
- max-: close sell order with the maximum loss.
- min+: close sell order with the minimum profit.
- min-: close sell order with the minimum loss.
- 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.
- max+: close buy order with the maximum profit.
- max-: close buy order with the maximum loss.
- min+: close buy order with the minimum profit.
- min-: close buy order with the minimum loss.
- All: close all buy orders.
- 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 TakeProfit and StopLoss.
- 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 lose.
- 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.
How Are Lots Determined?
Lots are 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 are 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.
Compare with another version Quick Panel (Link):
- Quick Panel Pro: each order has SL/TP, and TP is equal to SL * RewardRiskRation.
- Quick Panel: each order's SL/TP depends on the input StopLossInPips/TakeProfitInPips, and TP is independent of SL.