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Trade Management Tool - Visual tool with dragging feature for SL and TP, automate risk
Would like a tool that can be used on MT5 that assists the trader with entries and trade management via a visual interactive panel and on the chart that can be used to auto calculate lot size based on the desired parameters of the user. On the chart the trade risk / reward with take profit area shaded green and sl area shaded red (similar to trading view)
Line function - shows on the chart the Opening line, Stop Loss, Take Profit so it will allow the user to easily set a new order and see its additional characteristics before opening
Risk management - The risk calculation function calculates the volume for a new order taking into account the set risk and the size of the Stop Loss order. User can determine if they want to use a fixed risk value in currency or a % of their balance/equity.
Also allows user to set any size of Stop Loss and at the same time to observe the set risk.
Have a Lot size calculator button that enables/disables risk calculation.
In the Risk field set the necessary value of risk in percent from 0 to 100 or in the deposit currency.
On the Settings tab select the variant of risk calculation: $ Currency, % Balance, % Equity
Reward/TP and Risk/SL - sets the relation of Take Profit to Stop Loss.
User can set the size of the profit relative to the loss.
For example 2: 1 - this means the size of TP = 2xSL,
RR - on/off the ratio.
Orders management
Have the panel to allow for either market and pending orders.
Trade time manager - opening or closing by time.
Close position by parts - closes a part of the order as a percentage of the set volume.
Trailing Stop option for managing Stop Loss orders
Breakeven - moving the Stop Loss to a level without a loss once a set amount of pips have been reached
Limit Order Trailing - moves the Limit Order following the market price at a distance.
OCO Order - function of cancellation of several pending orders, if one of them is activated.
Virtual pending orders and Virtual Stop Loss and Take Profit - Hide SL TP.
Change the symbol via the panel
Mobile Notifications when price levels are broken / trade entered / closed etc