IDEA Position Manager and Market Advisor
News: IDEA 2.0 is out with lot of features, like telegram bot notifications and Limits order! Check the changelog at bottom of page (*).
here you can find my Expert Advisor, called IDEA (Intelligent Detection & managEr Algorithm). In short, with this software you can:
- Have a clear view of market status, with an indication of current trend. Simply add symbols you want to monitor to your market watch, and IDEA will notify you if some of them are in trend;
- Have an automatic lots calculation by inserting how many money you want to risk, risk reward ratio and by using automatically the ATR value;
- Receive Email, app and telegram notifications when position is opened, closed (by Take Profit or Stop Loss) and incremented;
- Manage automatically the position increments. You can choose how many time (and how many lots) you want to increase during your journey to Take profit. IDEA will adjust automatically lots value when reach the half of distance to take profit, accounting Stop Loss modification based on how money you are risking.
- Build and have all chart with your favorite indicators/colors, by clicking only one button;
- Have an easy User Interface, fully customizable, to manage your positions;
- Can work on different symbols, like crosses and index.
How to use it?
- Import it on your Metatrader 5 platform;
- Add symbols you want to trade on your market watch;
- Eventually adjust parameters with your trading IDEA: for example you can change distance in % of moving averages cross and other stuffs;
- See IDEA's overview of market status;
- Do your personal analysis;
- When you have chosen symbols and direction, open IDEA properties and configure money you want to risk, TP/SL distance ratio and compounding iteration (if you want to do it);
- Turn on mail, app and telegram notification (you need to configure it also in the general settings of metatrader);
- Open the position!
- If you want you can save your chart preset and put if on Files folder of Metatrader, so when you click on the Indicators button you will have all on your hands.
Disclaimer: IDEA is tested only on Forex Market. It doesn't open position for you (because I really believe that when you open a trade, you should decide manually if is the case to go on market) but it helps you to have an indication of market status, to manage your position and to notify you status of it.
- Test in demo before swith in real!
- Added Telegram bot support. To configure it in metatrader follow first part of this guide: https://www.mql5.com/en/articles/2355. If you need help, I'm available to support you.
- Added possibility to open limit order, to have benefits of retracements. Simply add % value of retracement on operation settings.
- fixed minor bugs;
Just to be more clear, you can find a tipical usage of IDEA on the youtube video: