Trading Panel 2
This is a compact Trading Panel with integrated money management and spread optimization for professional trading. Also check out my Trading HUD 2 to get a complete professional trading setup.
Please be aware that this
EA may cause some undesired actions. I am using this EA myself for quite some
time and most bugs should be gone by now. But it’s highly recommended to test
this on a demo account on the same broker you intend to use it with real money. Also it is optimized for Full-HD resolution. It might be too small on higher resolutions.
- One-Click-Trading with automatic money management
- Display current spread and average (!) spread in Standard Pips
- Automatically optimize spread cost
- Automatically place SL and TP with one click, adjust via drag-and-drop
- Check if trading is restricted on the symbol in any way
- Display market open/close timer
- Notify of expiration of a future soon to happen
- Automatically close a future that has expired
- Automatically open a new future when it becomes available
1. One-Click-Trading with automatic money management
The compact Trading Panel consists of three buttons each for instant buy, pending buy, instant sell and pending sell orders plus a close button. The three buttons, which can be customized by the user, represent a certain percentage of your account equity loss at the default Stop-Loss (default: 1%, 2% and 3%). Note that with small accounts or wide SLs the minimum Lot size might result in a bigger loss.
2. Display current spread and average (!) spread
Below the panel you will see the current spread and the average spread in Standard Pips.
When people are talking about their trading success I always hear them say something like “Today I made 50 Pips”, but 50 Pips on GBPNZD is obviously way less than 50 Pips on EURGBP. But even if you win 50 Pips on EURUSD at a price of 1.1000 you actually won more than if you had won 50 Pips on EURUSD at a price of 1.2000.
Therefore I define a Standard Pip as 1/10,000th of the current price.
Only this concept makes spreads comparable, even if you are only trading one currency.
All spreads can also be found in the global variable section (press F3).
3. Automatically optimize spread
The panel is able to delay your trade request if at the moment of clicking the spread is higher than usual. This way you will profit from tiny price movements. You can set the maximum time in seconds the trade is delayed (default: 8). Although this feature has been tested to reduce the spread cost you pay over time, it can happen that the price moves in the wrong direction while waiting for spread optimization. You can disable this feature by setting the maximum waiting time to 0, but I highly recommend using this feature.
4. Automatically place SL and TP with one click, adjust via drag-and-drop
If you wish to use a Stop-Loss and a Take-Profit the panel will automatically place them at a default distance so that you can adjust them easily via drag-and-drop
5. Check if trading is restricted on the symbol in any way
The panel will permanently check whether certain sorts of trades are disabled by your broker and notify you. These types include (long only, short only, close only, no market order, no limit order, no stop order, no stop limit, no Stop-Loss, no Take-Profit).
6. Display market open/close timer
The Panel will always show a countdown to the next market change (opening/closing). Once it is closed all button will grey out.
7. Notify of expiration of a future soon to happen
The panel will notify you if a future you trade will expire within the next 7 days. It will remind you once every day until it happens showing you the remaining time and the expiration date.
8. Automatically close a future that has expired
If you enable this feature the panel will automatically check if an open chart contains a future that has already expired and close it (all analyzes are always saved in templates, so you don’t lose anything).
9. Automatically open a new future when it becomes available
If you enable this feature the panel will automatically open a new future when it becomes available. That means if you e.g. have an open chart “LCrudeApr16” (Oil) and a new future for Oil is available it will open the chart and copy your analyzes from the “old” future via the appropriate template.