Signal Order Corrector MT5
Signal Order Corrector is an Expert Advisor that allows correcting the volume/lot of orders copied from an MQL5 signal.
You need this Expert Advisor if:
- Automatic settings of the MetaTrader5 terminal do not allow you to get the desired ratio of order lot on the signal account and your account.
- Trader's broker and subscriber's broker provide different lot size, and you do not want to find the reasons of wrong copying of the volumes and/or open new additional accounts.
- You want to use your own money management when copying signals.
How it works:
- The Expert Advisor is installed on the subscriber's account
- The correction/copying mode is set up
- The EA adds its own positions based on the received signals
- Fixed mode.
This mode allows you to add additional positions with a fixed volume/lot specified in EA parameters, for the positions opened by the signal. The mode is suitable for trading strategies using a fixed order volume (not using martingale). It is used for more accurate setting of volumes in accordance with the used money management system.
- Dynamic mode.
In this mode, the positions are added based on a multiplication factor. For example, if an order to open a 2-lot position is received from a signal, and the multiplier coefficient is set to 1.5, an additional 3-lot position will be added to the subscriber's account. The mode is used when copying strategies using martingale. In this mode, you can more accurately choose the profit/risk ratio based precisely on your specific requirements and trading terms provided by your broker.
- Margin mode.
In this mode, the EA's order lot is calculated on the basis of the target margin level that should be formed on the account after opening the corresponding position. For example, if you set a level of 500%, after opening a position received from a signal, an additional position will be opened with such a volume, that margin level after position opening will not exceed 500%. This mode is suitable for scalping strategies. Scalpers usually use a fixed order volume as the percentage of deposit, so the Corrector should be used for a more accurate copying of such strategies.
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- Fill policy - fill policy of orders
- Type of account - MT5 account type - netting/hedging
- Magic number - unique number for a correct operation of several EAs
- Start (netting) - start time of position accounting (for netting accounts only)
- Mode - copying/correction mode (Fixed/Dynamic/Margin)
- Dynamic multiplier - copying/correction multiplier
- Fixed volume/lot - specify fixed lot here
- Margin percent - margin level after opening of additional position
- Round (UP or DOWN) - type of rounding when calculating volume/lot of positions