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This EA is based on the great ideas of Projack. Thank you Jack. This EA calculates the Volume and place order, based on configured risk (2%, by default) and the equity of the account. Avoids the use of the calculator to find the ideal Volume to the Risk desired. Orders can be Sell, Buy, Sell Limit, Buy Limit, Sell Stop, Buy Stop, according to the position of Open Price Line. For the required calculations use Currency1 and Currency2 of the symbol, and Account Currency. The first 3 characters in the symbol defines Currency1, and the next 3 characters define Currency2. In symbols with less than 6 characters, the first 3 define Currency1, and for Currency2 is always USD (eg: BRN). To make the calculations, needs access to the price of Currency1/AccountCurrency or Currency2/AccountCurrency, according to the pair in use. To obtain access to all prices, may need configure MetaTrader. To this press Ctrl+M / 'Show All' |
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INFORMATIONS on right:
Large numbers: Relation between Risk/Reward (SL/TP). Ideally should be equal or greater than relation between 'Points to TP'/'Points to SL' defined on parameters.
If Red : means the Profit is less than Loss, or invalid values.
If Yellow: means the Profit is less than relation between 'Points to TP'/'Points to SL' defined on parameters.
If White : means values acceptable to the Risk/Reward defined on paramenters.
Line 1: Volume and the cost of the calculated order, in account currency.
Line 2: 'Max Risk %' defined on parameters, cost of this risk, and cost of each point/lot (1 point = 1/10 pip), in account currency.
Line 3: The % Risk for the Stop Loss level, the value in account currency, and the amount of points. If Yellow, means lower than 'Max Risk %' defined on parameters.
Line 4: The % Profit for the Take Profit level, the value in account currency, and the amount of points.
Line 5: Average number of points of the last candles, if activated in the parameters. Same as ATR indicator.
Line 6: TimeFrame used when placing the order.
BUTTONS:
+ / - Division of risk by N orders. Adjusts and rounds the volume of each order always to keep the risk lower or equal than the risk desired.
Open Button: - Indicates the number of orders to place and the volume of each one.
INTERACTIONS:
Double Click on the indicator bars - exchange BUY/SELL
Double Click on the Open Price Line, place the opening price on the market price.
Most Important Parameters:
'Order # to colate Indicator' - Index of the placed or opened order to which the indicator will be fixed.
'Max. Risk (%)' - Maximum risk desired to the Stop Loss.
'Points to TP' - Points to Take Profit, by default (1 point = 1/10 pip).
'Points to SL' - Points to Stop Loss, by default (1 point = 1/10 pip).
The relation between both define the Risk/Ratio (SL/TP - (1:2, by default)
NOTES:
-On placed orders the indicator will be fixed to the order indicated in the 'Order # to colate Indicator' parameter, and the lines can't be changed.
-The indicator updates the values on each tick and when clicking the chart.
-Therefore, in case of stoped markets, the values only updates when clicking on the chart.
-EA can be added in multiple charts at same time, on different symbols. To add in multiple charts at same time on same symbol, change the 'Order ID' parameter.
-If you want exchange between Green and Red bars (Take Profit / Stop Loss), just double click on the bar.
-Maintains EA values when changing accounts on MetaTrader. It allows you to test in a Demo account, and place orders on the same values in a Real account.
ATR Indicator Bar:
Representation of ATR indicator (Average of last candles) on chart, to compare last average distance with position of Take Profit.
Options available to enable/disable and define ATR Period (14 by default)
Many thanks to the ProJack for the ideas, results and dedication and effort to helping new traders.