Master Levels mt5
Master Levels mt5 (version for MT4) analyzes market situation over the last few days and determines current levels. It tracks a breakout (or rebound) of these levels. Trades open in the breakout (rebound) direction.
The EA is fully automated. Master Levels is equipped with a flexible position management system. There is opportunity to close a position with two parts. And there is a feature of a trailing stop, which allows to protect gain profit. Depending on the settings, the EA can work both as a scalper, and as an expert with medium profit targets.
The Master Levels works only on pending orders! It guarantees better order execution on a broker server side.
- An ability to work as a breakout or rebound EA.
- An ability to fix profit by parts
- Trailing stop allows reduce losses and drawdown
- Automatic calculation of lot for any currency depending on risk per trade
- An ability to flexibly set the working hours and trading suspension intervals
Default settings are optimized for EURUSD
The volume value is either fixed (Fixed volume) or calculated based on the risk per trade (Risk per trade). A fixed lot is used when Risk per trade = 0.
Partial closure closes only one part of a position! There is a setting of percentage of the volume for partial closure. The target in points of partial close is set in percentage of the total Take Profit target, where 100% is the Take Profit equivalent of the position. For example, Take Profit = 500 points (5 digits). If you set Percent of TP points to close = 60%, then the first part of the position will be closed at 500 * 0.6 = 300 points.
Trading suspension intervals and opening hours
Trailing stop activation distance is the movement distance from open price to profit. The stop never moves upward.
- Days analyze - The number of days to detect levels. The latest days are considered, including the current
- Level amplitude - The minimum required amplitude for levels detection. The price should pass the specified distance on both sides of a level to detect (5 digits, points)
- Entry shift - Entry distance. Offset in points from a level, where entry is made. Negative value - entry on reaching the level. Positive values - after crossing the level
- Trade mode - Mode of the EA work. BREAKOUT a level or REBOUND from the level
- Working time string - Working time string (more about the format above)
- Pause intervals string - Time string of pause intervals
- Fixed volume - Fixed volume. Used only when Risk per trade = 0
- Risk per trade - Percentage of the deposit for one transaction. If 0, then Fixed volume is used
- Stop Loss - Stop value in points (5 digits, points)
- Take Profit - The amount of profit (5 signs, points)
- Close opened positions when out of working time - Close current open positions when non-working hours occur (true / false)
- Enable partial close - Enable / disable partial close
- Enable breakeven after partial close - Enable / disable setting a stop to breakeven after closing part of a position
- Percent of TP points to close - Percentage of Take Profit of a position for the partial close (for more details, see the Partial Close section)
- Percent of volume to close - The percentage of a volume of an open position for partial close
- Enable trailing stop - Enable / disable trailing stop
- Activation distance - Distance to profit for starting the trailing stop (5 signs, points)
- Trailing distance - Distance of pulling up a stop level. The stop size will be adjusted to this distance (5 characters, points)
- Levels color
- Levels line style
- The working time setting format has been changed
- A possibility to set trade pause intervals has been added
- The current server time is used for working hours setting
Also secondary functions has been removed due to incompatibility with new trading logic.
- Added parameter for selecting the order filling type (Filling Type)
- Removed the postfix parameter. Now, if the currency pair name is EURUSD.ecn, then it is not necessary to enter .ecn. The EA will determine everything automatically.
- Added the display of the daily total trade volume to the panel.
- Input parameters are set in 5-digit quotes.
- Added a parameter for limiting the number of deals performed per day.
- The EA operation time is set in hours and minutes
- Added a parameter for closing open deals when the EA operation time ends
- Optimized and improved the code.
- Working time period can be set with overlapping days. For example, 'hour start 22 to hour end 17'.
- Added the commission parameter. This allows evaluating commission after testing. The total commission is defined using the OnTester function in the testing journal.