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MT4 Intraday Trade Manager

MT4 Intraday Trade Manager script is a standalone, fast executing MT4 script which allows you to easily manage your trade orders such as Market Buy or Market Sell orders, Buy or Sell Stop orders, modify your Stop Loss and Profit Target level, cover your positions with Stop Loss to Break Even point, use Trailing Stop Loss, etc.

Also, it features very sophisticated yet easy-to-use and accurate Money Management which allows you to use tailored Money Management method best matching to your trading style or to your trading strategy.

Simply, it is a must have, ultimate trading tool for real Forex traders.


Buttons

You can manage your orders and trades by clicking on buttons.

  • Buy - place a market buy order at current market price. Stop Loss to be set at the Lower Line level; Profit Target to be set at the Upper Line level. Both Stop Loss line and Profit Target lines can be modified by double clicking on the line and drag and drop to the level required. Position size is calculated from the actual Stop Loss distance when the button was hit.
  • Sell - place a market sell order at current market price. Stop Loss to be set at the Upper Line level; Profit Target to be set at the Lower Line level. Both Stop Loss line and Profit Target lines can be modified by double clicking on the line and drag and drop to the level required. Position size is calculated from the actual Stop Loss distance when the button was hit.
  • Buy Stop - place a Buy Stop Pending Order with the predefined settings: Upper Line gives the price where the Buy Stop Pending Order is going to be activated; Lower Line gives the Stop Loss level. Profit Target to be set x times as many pips as the Stop Loss distance was (controlled by Default_Risk_Reward_Ratio settings in Inputs. For example, in case Default_Risk_Reward_Ratio: 2, and the Stop Loss was 20 pips then Profit Target is going to be 2 x 20 pips = 40 pips).
    Please note that you can place a Buy Stop Pending Order ONLY if the price is BETWEEN the Upper and Lower Lines.
  • Sell Stop - place a Sell Stop Pending Order with the predefined settings: Lower Line gives the price where the Sell Stop Pending Order is going to be activated; Upper Line gives the Stop Loss level. Profit Target to be set x times as many pips as the Stop Loss distance was (controlled by Default_Risk_Reward_Ratio settings in Inputs. For example, in case Default_Risk_Reward_Ratio: 2, and the Stop Loss was 20 pips then Profit Target is going to be 2 x 20 pips = 40 pips)
    Please note that you can place a Sell Stop Pending Order ONLY if the price is BETWEEN the Upper and Lower Lines.
  • Buy Limit - place a Buy Limit Pending Order with the predefined settings: Upper Line gives the price where the Buy Limit Pending Order is going to be activated; Lower Line gives the Stop Loss level. Profit Target to be set x times as many pips as the Stop Loss distance was (controlled by Default_Risk_Reward_Ratio settings in Inputs. For example, in case Default_Risk_Reward_Ratio: 2, and the Stop Loss was 20 pips then Profit Target is going to be 2 x 20 pips = 40 pips)
    Please note that you can place a Buy Limit Pending Order ONLY if the price is ABOVE both the Upper and Lower Lines.
  • Sell Limit - place a Sell Limit Pending Order with the predefined settings: Lower Line gives the price where the Sell Limit Pending Order is going to be activated; Upper Line gives the Stop Loss level. Profit Target to be set x times as many pips as the Stop Loss distance was (controlled by Default_Risk_Reward_Ratio settings in Inputs. For example, in case Default_Risk_Reward_Ratio: 2, and the Stop Loss was 20 pips then Profit Target is going to be 2 x 20 pips = 40 pips)
    Please note that you can place a Sell Limit Pending Order ONLY if the price is BELOW both the Upper and Lower Lines.
  • Close All - close all the trades opened by MT4 Intraday Trade Manager. Please note that trades opened any other way (eg. manually) will NOT be closed.
  • Delete P.Ord. - Delete all pending orders placed by MT4 Intraday Trade Manager. Please note that pending orders placed any other way (eg. manually) will NOT be deleted.
  • SL TO BE - Stop Loss to Break Even pulls your Stop Loss level to Break Even point (entry price plus or minus spread). If you have multiple positions on the same currency pair the button controls the most recent Stop Loss; you can check its ID number between SL TO BE and Trailing SL buttons. 
  • Trailing SL - activates the Trailing Stop Loss method with the predefined settings (steps and distance). If you have multiple positions on the same currency pair the button controls the most recent Stop Loss; you can check its ID number between SL TO BE and Trailing SL buttons (see the picture above).


Settings

  • Line_distance_in_pips - it determines the pip distance of the lines from the actual price when the script is initialized.
  • Money_Management - if it is TRUE the script calculates the position size based on the Risk percentage of the Account Balance for each trade individually. If it is FALSE the script uses the Lot_size set, instead.
  • Risk_based_on_Account_Balance - if it is TRUE the script calculates the Risk based on the Account Balance. If it is FALSE it calculates the Risk based on the Equity Balance.
  • Risk - set the risk you intend to take in percentage.
  • Lot_size - set the Lot size you intend to use for all trades if Money Management is FALSE.
  • Max_Lot - set the maximum Lot size you intend to use during trading.
  • Trailing_Stop_Loss_Steps - set the steps in pips for the Trailing Stop Loss to move. In case the price moves in your direction the Trailing Stop Loss follows the price by these steps.
  • Trailing_Stop_Loss_Distance - set the distance in pips you want the Trailing Stop Loss to follow the price (in your direction).
  • Slippage - set the maximum distance in pips you allow the server to execute your orders from the price set.
  • Default_Risk_Reward_Ratio - set the multiplier for the Automatic Profit Target distance based on the Stop Loss distance.
  • Magic - unique ID number for trades managed by MT4 Intraday Trade Manager.
  • Info_Panel_View - if it is TRUE the Account Info Panel is visible. If it is FALSE the Account Info Panel is hidden and the buttons take its place to give you a compact layout.
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