Market / MetaTrader 5 / Experts /

Open lock MT5

299 USD

Demo downloaded: 2 287

Published: 17 April 2018

Current version: 5.39

Open lock MT5

Experts
Sergey Likho
Version: 5.39
Updated: 6 May 2022
Activations: 5

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 4 is available here

The algorithm of the EA uses counter transactions and a large number of open positions, therefore, need to use it on a hedge account.

Methods used by the EA

Locking to prevent a drawdown increase
Averaging orders used to cover the loss
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

Settings

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 fro 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.

more...

695

Larry E Liddiard 2022.05.31 10:16 #

Good EA. Outdated documentation...

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luqide 2022.05.26 01:31 #

非常好的EA，拯救了我的两个账户。

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Leopoldo Licari 2020.07.22 10:02 #

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71% discount for the next 5 buyers (original price $9000): 3 person left Get a 50% bonus by buying (or even renting) any of our products. After buying (or renting), send a message for more information. Several experts in one expert With this expert, you can use several up-to-date strategies Enhanced with artificial intelligence Can be used in several popular forex currencies Can be used in the most popular forex time frames Without using high-risk strategies Attributes : Can be used in t

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Introducing Quantum Gold Emperor EA , the groundbreaking MQL5 expert advisor that's transforming the way you trade the prestigious XAUUSD(GOLD) pair! Developed by a team of experienced traders with trading experience of over 13 years. IMPORTANT! After the purchase please send me a private message to receive the installation manual and the setup instructions. ***Buy Quantum Gold Emperor EA and you could get Quantum Trade EA for free !*** Ask in private for more details Live signal : Click

499.99 USD

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 Locking to prevent a drawdown increase Averaging orders used to cover the loss Partial closure to reduce th

299 USD

Metusha is a grid trading system, that can trade on buy and sell. Profitable trades the advisor pyramids, to increase profits, unprofitable orders it averages and closes quickly in parts. Main advantages: Automatic market analysis by author's indicators Non-linear algorithm of money management Averaging and pyramiding of deals Various algorithms for capital protection Application in combination with other Expert Advisors Multiple parameters allow to make flexible settings for any financ

249 USD

iExposure SYL displays information about opened trades considering commissions and swap, which affects the open price and the final outcome and and also allows drawing virtual transactions and calculating possible profits and losses in advance. Differences from iExposure indicator of MT4: Separate profit column for BUY and SELL Trade open price considers commission and swap The indicator will come in handy for any hedging strategies that involve opening a large number of oppositely directe

FREE

Screen logger with telegram - takes screenshots of all open MetaTrader 4 charts. Why do you need Recording incoming quotations from a broker. In case of any corrections, this moment will be fixed. Check the data of the indicator and notice cases of signal redrawing or overwriting Maintaining own accounting for changes in trading indicators on the account Creation of real trading video from the obtained snapshots Advantages It consumes significantly less resources than any screen recor

FREE

Trend indicator based on a combination of moving averages. Symbols : BTCUSD, GBJPJPY, GOLD, GBPUSD Timframes M5-H4 The main advantage: an additional algorithm of auto-optimization. The indicator can adjust its parameters for any financial instrument and any timeframe. During auto-optimization, the indicator calculates tens of thousands of combinations and finds the one that gives the best series of profitable trades. The best parameters are set by default Indicator settings can

99 USD

The Alien uses an adaptive trading system, which independently adapts to the current market. The Alien independently determines the trend, looks for signals to enter, analyzes closed trades and adjusts its work depending on the results on the history. It is based on an already trained neural network. Tuning and training are automatic and do not require any additional action. Signal: https://www.mql5.com/ru/signals/863157#!tab=account Recommended accounts: ECN with floating spread

199 USD

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695

Larry E Liddiard 2022.05.31 10:16 #

Good EA. Outdated documentation...

162

luqide 2022.05.26 01:31 #

非常好的EA，拯救了我的两个账户。

1716

Leopoldo Licari 2020.07.22 10:02 #

863

MARTIN AFAMEFUNA HILARY OBIANODO 2019.07.27 21:04 #

This is the best EA ever.. I was backtesting it for over 4 months before purchase.. I found the settings that suit my trading goals. I target about 15% ROI monthly, which is very achievable with Drawdown not more than 10%, on EUR/USD.. Thanks to Sergey Likho, this is the best thing ever..

198

Michail Smikov 2018.05.03 22:44 #

User didn't leave any comment to the rating

Version 5.39 2022.05.06

-added all new features from the open lock for MT4

Version 5.24 2020.07.01

-minor fixed

Version 5.23 2020.06.30

-trailing stop
-Step by step locking
-Automatic calculation for three risk levels
and other features from the Open lock for MT4

Version 5.10 2018.10.22

bugs fixed

Version 5.9 2018.07.27

-Increased speed with a large number of orders
-some fixes in algorithm OL