Master Levels mt4
Master Levels mt4 (version for MT5) analyzes the market situation over the last few days and determines the current levels. It tracks the breakouts of these levels. Trades are opened in the breakout direction.
The Expert Advisor is fully automated. Master Levels is equipped with a flexible position management system. You can set any number of take profit parts. It also features a trailing stop system, which allows to protect the obtained profit. Depending on the settings, the EA can work both as a scalper, and as an expert with medium profit targets. The EA is able to work in two modes: market orders and pending orders. Pending orders are used by default.
Master Levels allows controlling slippages and spread at the moment of entry, which is crucial for a scalper.
The EA implements algorithms for limiting its operation by time. There is a trading pause module. You can set any interval, for example, time of news release, during which new trades will not be performed. You can also choose the actions for the open positions during the specified pause interval.
Features & Benefits
- Ability to take profit in any number of parts
- Trailing stop allows reducing losses and drawdown
- Automatic calculation of lot for any currency depending on risk per trade
- Option to work with pending or market orders
- Spread control
- Advanced trading pause module.
Recommendations on Usage
- Use ECN account with minimum spread and commission
- Choose a broker with good execution of orders
- Use the maximum leverage of 1:100 or higher
- Trade volatile currency pairs with minimal spread
Default settings are intended for operation on ECN accounts with the average spread less than 1 point. Optimized for EURUSD M15.
- Days analyze - The number of days to analyze the levels. The latest days are considered, including the current.
- Level amplitude - The minimum required amplitude for the levels. The price should pass the specified distance on both sides of the level.
- Entry shift - Entry distance. Offset in points from the level, where entry is made. Negative value - entry on reaching the level. Positive values - after crossing the level.
- Start trade hour (Start trade minute) - End trade hour (End trade minute) - Operation interval of the EA. Start hour=2, the EA starts operation at 2:00:01. End hour=17, the EA ends operation at 17:00:00.
- Days filter - Disable trading on certain days of the week. To disable, set to false.
- New trades pause - Enable/disable pausing trading in the time intervals (false - disable, true - enable)
- Open trade actions - Actions with the open trade when the interval starts
- Current manage
- Close trade
- Pause intervals - String for setting the pause intervals. You can define several intervals. The format is hh:mm-hh:mm, or hh:mm-hh:mm;hh:mm-hh:mm;......;...... The intervals are active during the current and subsequent days until disabled.
- Slippage - Slippage when sending a trade request
- Requests - The number of attempts to open or modify a position
- Spread filter - Maximum allowed spread at the moment of entry
- Orders Mode - Market orders or pending orders
- Out of time close - Close opened deals when the EA operation time ends.
- Allowed trades per day (0 - no limit)
- Fixed Volume
- Risk per trade, % - If set to 0, the value of fixed volume is used.
- Percentage of balance used, %
- Closing parts - true/false
- Parts - The number of parts for taking profit
- Close first part, % - Percentage for closing the first part (of the total deal volume)
- First part TP - Take profit of the first part
- Enable trailing stop - true/false
- Trailing activate - Profit in points to activate trailing
- Main trailing
- Pause levels color
- Pause levels style
- Levels color
- Levels line style
- Orders comment
- Fixed bug with placement of pending orders
- Improved lot calculation system with a set Risk per trade parameter
- Fixes in the block of automatic lot calculation. Removed the parameter for postfix of the currency pair. Now, if the currency pair name is EURUSD.ecn, then it is not necessary to enter .ecn. The EA will determine everything automatically.
- Added a parameter for closing open deals when the EA operation time ends
- 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.
- Optimized and improved the code.
- The working time interval can now be specified with cross days. For example, hour start 22 to hour end 17.
- Added the commission parameter. It allows to evaluate the size of commission during testing. The total commission is output by the OnTester function to the tester log.