Hi There good People
Years ago some coder made a TradeManager for me and till now it still works but it sometimes has some hickups and i want some things changed or added if possible.
But that coder does not do anything anymore with MT4 so i need the help from here.
But first, let me explain what this trademanager does and how it works
I just post the Manual i did write here also sorry for my simple English my native language is Dutch.
Oke, here it comes
After u did drag the EA on your chart.
There u will see a Green and Red arrow button and 3 more buttons on the top of the chart.
See picture Trademanager01
If u are planning to place a short trade press the Red down arrow
And if u want to go long the Green Button.
Lets say u are on the EURUSD H1 and wanted to go short See the arrow on the chart of picture 01
then u press the Red button
Then the Trade manager will place 4 lines on the chart.
See Picture Trademanager02
1 Blue Entry line with a Sellstop just below the market.
1 Red Stoploss 20 pips above the market and depending on what timeframe u are the distance will be different.
U will also see 2 Green TakeProfit lines, The first TakeProfit is 22pips away from the entry
and the TP2 around 42 pips.
Now u can move the lines.
Let's say u want to move the entry line to some point where u think the market will breakout and u want to get in the market at that point.
if u double click the entry line u will see that I can move it around like when u place trendlines on the chart.
When u move the entry line u will notice that the other lines move also and stay at the same distance.
When u are done moving the Entry line u can if u want to move the StopLoss the same way as the Entry.
Now u will see that when u move the Stoploss line that the Green TakeProfit lines wil move also.
The distance between the Stoploss / Entry and Entry / TakeProfit1 will always be at a 1:1+ spread risk-reward distance.
And last u can also move the TakePRofit lines best to start with TP2 and always keep it further away then TP1.
and the goal is to keep the TP1 at least at a 1:1+ spread risk reward or better.
Oke now when u are done moving your lines u can activate them on the top left of the chart u see now 3 buttons.
Activate Lines, Cancel Lines, and Sell or Buy Market.
Before u press the Activate lines u can press the small orange button with the Letter S for Setup.
If u do that u get a drop-down menu with some options.
See Picture Trademanager03
Here u can adjust some settings Default the StopLoss and take profit are hidden u can change that there.
The risk is default set at 3
Lot size is default 0.00 if it is 0 then the order size is based on the risk if u use a number in there it will place 3 orders with the size u did put in there.
Trail Entry ill explain later
TrailEntry% ill explain later
TrailE-Pips explain later
TrueRisk expain later
Trail Last explain later
LastTrail% explain later
LtrailPips expain later
When u are done adjust the settings press the Red S Button again to close the menu
U can also do all those settings in the F7 menu
Now when u activate the Lines u then wait for the market to touch the Entry line.
If that happens the TradeManager will place 3 orders of the same size of a total risk of default 3%.
Now when the market moves toward the first Takeprofit and touches it the TradeManager will close 1 order.
And it will also move the StopLoss from one order to Breakeven + Spread and 1 Stoploss stays at the original StopLoss place.
At this point, u are save u made at least 1% profit if the risk-reward was 1:1+spread or better.
If now the market turns against you u can't lose if it goes toward the entry again it will close order 2 at breakeven + spread costing u nothing.
And if it also goes toward the Last Stoploss u lose 1% but u also made 1% so at the end u didn't lose anything.
Oke but let's say the market goes toward TakeProfit2 and touch it now it will close order 2
U already had 1% profit + the second order X% profit depending on how far u did put it.
What will happen now the TradeManager will now move the Last StopLoss line and moves it to the point where the first order was closed so if now the market turns against you u still make a profit from the last order.
U can also press the Ticket3 button or Close Magic X Button to close the last order.
U can also if there are still 3 orders press Close Magic it will then close all 3 orders.
Oke 2 orders are Closes for the last order there is no TakeProfit line so u can let it run close it when u want.
Ore u can trail it, in the drop-down menu u had a button Trail Last if u enable that it will start to Trail the last order And it will follow it at a distance of 20% so lets say the last order is 100 pips in profit it will follow u at a distance of 80 pips but that distance will lag to more profit pip u gain cos it is always 20% based on the pips distance from the entry so the more the market moves away to more it lags behind giving the market more room to swing around.
But u can change those setting if u want also u can move the stop-loss line where u want.
Last Trail-Pips means in what increments it will follow if u put it on 0.01 it will follow u every 0.1 pip the markets moves away.
Oke, we also have TrailEntry.
It works the same way as the Trail-Last.
Lets say the market is in a pullback and u wait for it to retrace and then want to go in but maybe the pullback is getting deeper what u can do is when u set all the lines and also a point where u at least want to get in the market turn on TrailEntry and activate the lines lets say the Entry is 10 pips away from the market and the pullback is still getting deeper now the entry line will follow the market.
And if it finally is going to retrace back u will get in at a better price.
The Lot size is default 3% based on the entry and the distance to the stop
If u turn on TrailEntry then the lotsize will stay the same even if u get an Entry later closer to the Stop.
But if u turn on True Risk then the lot size will be calculated every time the Entry moves closes to your stop and recalculates so it stays at 3% so your orders will get bigger.
U can calculate the order size based on your accountFreeMargin, AccountBalance, account equity.
Next, when u use the Trademanager u need to give it a unique Magic number everytime u use it u have to change that so remember what u did use.
There are 2 more buttons on the screen a Small blue with the letter N if u press that it tells u what the next magic number is u can use but this does not work correctly
And the Last button a Red C for Caution This is very experimental and maybe it won't work correctly and your Broker can maybe get mad at u.
What does it do.
Normally when your MT4 is going to place an order on the market your MT4 is going to make a connection with the servers at the broker purely for placing order after some time that connection stops again and the only date u get is the tick data u get from your broker but if it is very busy then it is possible your connection is a bit delayed we talking about milliseconds but it can give u some slippage on your orders.
What does that Red button Do if u press it, it turns green and the TradeManager is going to place a pending order Far away from the where the market is now, and every sec it is going to change the price so it kinda keeps the connection open for u if u now activate the trade manager the change is that u get in the market at the correct price u wanted, But this is experimental, not sure it works or if it is bullshit I am talking about.
Oke that's it
In the F7menu are some more option but those speak for them self.
---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
Oke this is the explanation
Now what i need to get fixed
The thing that is not working correctly is
When the Trademanager is active so u activated the lines and the market goes directly to your set Stoploss i want it to cancel all and remove the lines.
It should do that but it doesn't
Also, default the SL and TP are hidden u can change that in the menu or in F7 but i would it to be unhidden default
Next the Trade manager keeps track of his trades in the Global variables u can see it when u press F3 But i also use the Global variable menu for adjusting some settings om some of my templates i load but the trade manager is mostly on top of that list so i have to scroll down all the way
so it should be better if the info of the trademanager is starting with something like ZZZ so that it is at the bottum.
And one more thing i am looking for is
when the trade goes against me the trade manager will close all 3 trades and i lose 3% or what risk i did put in.
Maybe for some future upgrade, i would like it to place a counter order or maybe do some hedging/ Martindale to get to break even so it cancels my lose.
So thats it for now i will put the trademanager here so everyone can try it and maybe enhance it
Years ago some coder made a TradeManager for me and till now it still works but it sometimes has some hickups and i want some things changed or added if possible.
But that coder does not do anything anymore with MT4 so i need the help from here.
But first, let me explain what this trademanager does and how it works
I just post the Manual i did write here also sorry for my simple English my native language is Dutch.
Oke, here it comes
After u did drag the EA on your chart.
There u will see a Green and Red arrow button and 3 more buttons on the top of the chart.
See picture Trademanager01
If u are planning to place a short trade press the Red down arrow
And if u want to go long the Green Button.
Lets say u are on the EURUSD H1 and wanted to go short See the arrow on the chart of picture 01
then u press the Red button
Then the Trade manager will place 4 lines on the chart.
See Picture Trademanager02
1 Blue Entry line with a Sellstop just below the market.
1 Red Stoploss 20 pips above the market and depending on what timeframe u are the distance will be different.
U will also see 2 Green TakeProfit lines, The first TakeProfit is 22pips away from the entry
and the TP2 around 42 pips.
Now u can move the lines.
Let's say u want to move the entry line to some point where u think the market will breakout and u want to get in the market at that point.
if u double click the entry line u will see that I can move it around like when u place trendlines on the chart.
When u move the entry line u will notice that the other lines move also and stay at the same distance.
When u are done moving the Entry line u can if u want to move the StopLoss the same way as the Entry.
Now u will see that when u move the Stoploss line that the Green TakeProfit lines wil move also.
The distance between the Stoploss / Entry and Entry / TakeProfit1 will always be at a 1:1+ spread risk-reward distance.
And last u can also move the TakePRofit lines best to start with TP2 and always keep it further away then TP1.
and the goal is to keep the TP1 at least at a 1:1+ spread risk reward or better.
Oke now when u are done moving your lines u can activate them on the top left of the chart u see now 3 buttons.
Activate Lines, Cancel Lines, and Sell or Buy Market.
Before u press the Activate lines u can press the small orange button with the Letter S for Setup.
If u do that u get a drop-down menu with some options.
See Picture Trademanager03
Here u can adjust some settings Default the StopLoss and take profit are hidden u can change that there.
The risk is default set at 3
Lot size is default 0.00 if it is 0 then the order size is based on the risk if u use a number in there it will place 3 orders with the size u did put in there.
Trail Entry ill explain later
TrailEntry% ill explain later
TrailE-Pips explain later
TrueRisk expain later
Trail Last explain later
LastTrail% explain later
LtrailPips expain later
When u are done adjust the settings press the Red S Button again to close the menu
U can also do all those settings in the F7 menu
Now when u activate the Lines u then wait for the market to touch the Entry line.
If that happens the TradeManager will place 3 orders of the same size of a total risk of default 3%.
Now when the market moves toward the first Takeprofit and touches it the TradeManager will close 1 order.
And it will also move the StopLoss from one order to Breakeven + Spread and 1 Stoploss stays at the original StopLoss place.
At this point, u are save u made at least 1% profit if the risk-reward was 1:1+spread or better.
If now the market turns against you u can't lose if it goes toward the entry again it will close order 2 at breakeven + spread costing u nothing.
And if it also goes toward the Last Stoploss u lose 1% but u also made 1% so at the end u didn't lose anything.
Oke but let's say the market goes toward TakeProfit2 and touch it now it will close order 2
U already had 1% profit + the second order X% profit depending on how far u did put it.
What will happen now the TradeManager will now move the Last StopLoss line and moves it to the point where the first order was closed so if now the market turns against you u still make a profit from the last order.
U can also press the Ticket3 button or Close Magic X Button to close the last order.
U can also if there are still 3 orders press Close Magic it will then close all 3 orders.
Oke 2 orders are Closes for the last order there is no TakeProfit line so u can let it run close it when u want.
Ore u can trail it, in the drop-down menu u had a button Trail Last if u enable that it will start to Trail the last order And it will follow it at a distance of 20% so lets say the last order is 100 pips in profit it will follow u at a distance of 80 pips but that distance will lag to more profit pip u gain cos it is always 20% based on the pips distance from the entry so the more the market moves away to more it lags behind giving the market more room to swing around.
But u can change those setting if u want also u can move the stop-loss line where u want.
Last Trail-Pips means in what increments it will follow if u put it on 0.01 it will follow u every 0.1 pip the markets moves away.
Oke, we also have TrailEntry.
It works the same way as the Trail-Last.
Lets say the market is in a pullback and u wait for it to retrace and then want to go in but maybe the pullback is getting deeper what u can do is when u set all the lines and also a point where u at least want to get in the market turn on TrailEntry and activate the lines lets say the Entry is 10 pips away from the market and the pullback is still getting deeper now the entry line will follow the market.
And if it finally is going to retrace back u will get in at a better price.
The Lot size is default 3% based on the entry and the distance to the stop
If u turn on TrailEntry then the lotsize will stay the same even if u get an Entry later closer to the Stop.
But if u turn on True Risk then the lot size will be calculated every time the Entry moves closes to your stop and recalculates so it stays at 3% so your orders will get bigger.
U can calculate the order size based on your accountFreeMargin, AccountBalance, account equity.
Next, when u use the Trademanager u need to give it a unique Magic number everytime u use it u have to change that so remember what u did use.
There are 2 more buttons on the screen a Small blue with the letter N if u press that it tells u what the next magic number is u can use but this does not work correctly
And the Last button a Red C for Caution This is very experimental and maybe it won't work correctly and your Broker can maybe get mad at u.
What does it do.
Normally when your MT4 is going to place an order on the market your MT4 is going to make a connection with the servers at the broker purely for placing order after some time that connection stops again and the only date u get is the tick data u get from your broker but if it is very busy then it is possible your connection is a bit delayed we talking about milliseconds but it can give u some slippage on your orders.
What does that Red button Do if u press it, it turns green and the TradeManager is going to place a pending order Far away from the where the market is now, and every sec it is going to change the price so it kinda keeps the connection open for u if u now activate the trade manager the change is that u get in the market at the correct price u wanted, But this is experimental, not sure it works or if it is bullshit I am talking about.
Oke that's it
In the F7menu are some more option but those speak for them self.
---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
Oke this is the explanation
Now what i need to get fixed
The thing that is not working correctly is
When the Trademanager is active so u activated the lines and the market goes directly to your set Stoploss i want it to cancel all and remove the lines.
It should do that but it doesn't
Also, default the SL and TP are hidden u can change that in the menu or in F7 but i would it to be unhidden default
Next the Trade manager keeps track of his trades in the Global variables u can see it when u press F3 But i also use the Global variable menu for adjusting some settings om some of my templates i load but the trade manager is mostly on top of that list so i have to scroll down all the way
so it should be better if the info of the trademanager is starting with something like ZZZ so that it is at the bottum.
And one more thing i am looking for is
when the trade goes against me the trade manager will close all 3 trades and i lose 3% or what risk i did put in.
Maybe for some future upgrade, i would like it to place a counter order or maybe do some hedging/ Martindale to get to break even so it cancels my lose.
So thats it for now i will put the trademanager here so everyone can try it and maybe enhance it
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