Xetera Multi TP Manager for FX
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- Oteng Micheal
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Xetera Multi TP Manager for FX is an Expert Advisor specially designed for Forex on the Meta Trader 5 platform to manage trades even while you are away or asleep. Many Forex Signal Services out there use multiple take profit levels such as TP1, TP2, and TP3.
The signal services give you multiple target levels to increase your profit, but the problem is you always need to monitor your trades and move the Stop Loss, trailing.
So, we fixed this issue by developing our EA that can help you to manage your trades and secure your profits by moving the stop loss to the right place at the right time.
Our EA opens 3 positions from 1 trade (each position targets different TP levels). So, you need to split your lot size to 3 parts. We recommend you to use half of Lot size of TP1 for TP2 and TP3. If you use 0.10 for TP1, use 0.05 for both TP2 and TP3.
EA moves the Stop Loss as follows, (EA never forget to move SL to secure your profit)
It’s simple like 1-2-3:
Default Settings
· SL @ 50
· TP1 @ 20
· TP2 @ 50
· TP3 @ 100
· Trailing @ 5
· Lot1 @ 0.10
· Lot2 @ 0.05
· Lot3 @ 0.05
– If first trade (lot 0.10) hit the TP1 then EA moves the SL to above +5 PIPS from the entry point.
– If second trade (lot 0.05) hit the TP2 then EA moves the SL to above +5 PIPS from the TP1.
– Ultimately, the 3rd target is TP3. This wonderful EA does everything for you.
All the figures in levels are configurable in the EA's settings which makes this ideal to be used for all types of currencies, metals or indices on the MT5 platform. We have other EAs that are preset for their main purpose.
We created a simple panel for the Multi TP Manager where you can input figures such as SL, TP1, TP2 and TP3, Lot1, Lot2 and Lot3
Note: Refer to 2nd image
1. Buy/Sell button (For instant execution Buy or Sell by the market)
2. Switch between PIP or PRICE mode
- If you select PIP mode, you must enter exact values as provided by your Signal Service or Provider
- If you select PIP mode, you can either use he prerequisite values or enter the values provided by your Signal Service or Provider. Please note that when in PIP mode, TP levels and SL levels will be calculated from the market execution price.
3. Stop Loss
- Set Stop Loss by Price or Pips per the active mode
4. Lot Sizes
- Put in your Lot sizes in each box, Lot1, Lot2 and Lot3 (eg. Lot1 = 0.10, Lot2 = 0.05, Lot3 = 0.05)
5. Take Profits
- Put in your TP levels. You have up to 3 levels
Disclaimer: Although every effort has been made to represent this product and its potential for earnings, we cannot guarantee that you will earn money using the techniques and ideas put forward in these materials.
We can neither promise nor guarantee that earnings can be made by following the examples given in these materials. Earnings potential is dependent upon the user, and the way he or she takes advantage of, our ideas, techniques and the product itself.
Any statements here or in our sales material are intended to express our opinion of earnings potential. Many factors will be important in determining your actual results and no guarantees are made that you will achieve results similar to ours or anybody else's, in fact no guarantees are made that you will achieve any results from our ideas and techniques.
