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Open lock MT5

299 USD

Demo downloaded: 2 330

Published: 17 April 2018

Current version: 5.39

Open lock MT5

Name: Open lock MT5
Price: 299.00 USD
Rating: 5 (4 reviews)
Author: Sergey Likho

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...

693

Larry E Liddiard 2022.05.31 10:16 #

Good EA. Outdated documentation...

232

luqide 2022.05.26 01:31 #

非常好的EA，拯救了我的两个账户。

1838

Leopoldo Licari 2020.07.22 10:02 #

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Why do most EAs fail? Many Expert Advisors rely on temporary statistical advantages that disappear when the market changes, which happens continuously. The problem of over-optimization Moreover, most developers fall into the trap of fine-tuning their EAs to achieve perfect results in the past, without realizing that this won't translate to future market performance. It is crucial to conduct tests that consider future scenarios. The importance of diversification It is crucial n

1 699 USD

Golden Taipan FX: The Elite Trading System for XAUUSD H1 Overview: Golden Taipan FX is a cutting-edge trading system engineered specifically for XAUUSD on the H1 timeframe. With over 200 precisely crafted strategies, this system is designed for speed and efficiency, delivering consistent, high-quality trades that maximize profitability. With an impressive win rate exceeding 90%, Golden Taipan FX is your go-to solution for reliable and substantial returns in the gold market. Key Features: High W

599.99 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

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

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

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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173

Yuri 2024.09.12 21:34 #

User didn't leave any comment to the rating

693

Larry E Liddiard 2022.05.31 10:16 #

Good EA. Outdated documentation...

232

luqide 2022.05.26 01:31 #

非常好的EA，拯救了我的两个账户。

1838

Leopoldo Licari 2020.07.22 10:02 #

898

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