Guns Volume MT5
This trading panel determines trading volume according to your risk.
Note: Demo version for testing can be downloaded at https://www.mql5.com/en/market/product/15345
How does it work?
- You specify a percentage of risk in the Expert Advisor's parameters. This is the percentage of your funds on your account that you are willing to risk per one trade operation.
- Use a mouse to drag your prospective stop loss on a required level and Guns Volume will automatically determine required trading volume.
- Click the BUY or SELL button and a trade with required trading volume and preset stop will automatically open.
- For pending orders, apart from a potential stop, the line of potential market entry by a pending order should be moved.
- Click the Breakeven button, and the EA will move stop loss to breakeven.
- Trailing button enables Trailing stop.
- Takeprofit button sets take profit for the ratio specified in the parameters (Take profit = Stop Loss* n). The default value is one to three.
- The CLOSE ALL button closes all open trades.
- The Del pending button deletes all pending orders.
- The News button allows trading news. It sets pending orders and stop losses in a specified range above and below the current price. The orders are set with the volume calculated based on the risk percentage. After one of the orders is activated, another one is automatically removed to avoid a lock.
- The Lines On button makes potential stop and entry lines for a pending order visible. After opening a deal or placing an order by pressing the button, the lines can be made hidden.
- The right and left buttons in the upper panel add or subtract 0.5% of the risk. Thus, you can quickly increase or decrease the risk.
- Balance – choose between the balance and equity to be displayed on the EA panel.
- Volume_1st_digit – if true, the volume is calculated up to the first decimal place (for example, 1.5). If false – up to the second (for example, 1.57).
- Trailing_stop_VH – distance in points to enable the trailing stop function.
- TPnSL – profit/stop ratio (calculated as: Take profit = Stop Loss* n).
- RangeNews – range used to place pending orders to trade news.
- StopLossNews – stop loss for pending orders for trading news.
- slLineColor – potential stop loss line color.
- PendingLineColor – potential pending order line color.
Guns Volume is meant for trading only majors, crosses and gold. If you are going to trade other metals or CFD, make sure that your EA correctly calculates trading volume for these symbols. Different brokers might have different calculations. Multiply the trailing stop parameter by 10 to trade gold. For instance, set to 100 if you want to place 10 points.
Please note that many brokers have such a notion as minimum allowed distance from the price for placing stop (it is subject to trailing stop as well). For example, if it is 5 points for gold, enter 50 in the parameters.
P.S. Watch the video below for better understanding.