Line Order 3
Info
The Line Order 3 is a Expert Advisor for MetaTrader 4 that this ea assists manual traders by enabling them to visualize and adjust their trading plans on the chart. While it doesn't support adding lots to an existing trade, it offers various features to enhance trading strategies.
Usage
This tool is typically used for automated trading on major forex pairs and gold.
Platform
This Expert Advisor works exclusively on MetaTrader 4 (both build 600+ and newer versions).
Setup
Place the downloaded file in MQL4/Experts folder via File ? Open Data Folder in MetaTrader 4.
How to Install and Use Line Order 3
1. Installation: Open the "File" menu, select "Open Data Folder," navigate to MQL/Experts, paste your file, and restart the terminal.
2. Activation: Drag the EA from the Navigator onto a chart, ensure "Allow live trading" is checked in the Common tab, and verify the AutoTrading button is green.
3. Optimization: Right-click your chart, choose "Expert List," click "Properties" to adjust inputs, and save your preferred setup as a set file for future use.
4. Maintenance: Regularly check the "Experts" tab in the terminal window to monitor trade logs and potential execution errors.
Frequently Asked Questions
Q: Why is my EA not opening trades? A: Check the "AutoTrading" button, ensure "Allow live trading" is enabled, and verify your broker allows automated trading on your account type.
Q: Can I run multiple EAs on one chart? A: No, each chart can only host one active EA; however, you can open multiple charts for different currency pairs to run several EAs.
Q: What does the "smiley face" icon mean? A: A smiley face in the top-right corner of the chart indicates the EA is successfully running; a frowny face means it is disabled.
What this tool does
This EA assists manual traders by enabling them to visualize and adjust their trading plans on the chart.
Typical Use Case
This Expert Advisor excels in automated trading and technical analysis on MetaTrader 4.
Compatible Platform & Setup
This Expert Advisor works on MetaTrader 4. Place the file in the MQL4/Experts folder and restart the terminal.
Description & Settings
Related: E-Close by Time: Automated Position and Order Management - another powerful expert for MetaTrader 4 traders.
This EA assists manual traders by enabling them to visualize and adjust their trading plans on the chart. While it doesn't support adding lots to an existing trade, it offers various features to enhance trading strategies.Also recommended: Trade from Lines (e-tfl) - Advanced Line Trading Expert Advisor - similar expert with strong performance on MetaTrader 4.
Key features include:
- Indicator-based trading: Utilize indicators for multiple purposes, including trailing stops.
- Dynamic value adjustments: Automatically adjust trade parameters at specific levels, such as moving to break-even at a defined level.
This tool aims to become an essential resource for manual traders. It is currently in use by the developer for their own trading activities, but users are encouraged to test it thoroughly in a strategy tester or demo account before live trading.
You may also like: exaccount: visualize order activity on chart - excellent alternative for expert users on MetaTrader 4.
⚠ Limitations & Risk Warning
- This tool is provided for educational and testing purposes only.
- Past performance does not guarantee future results.
- Trading involves substantial risk of loss. Use on a demo account first.
- Results may vary depending on market conditions, broker, and settings.
- We recommend thorough backtesting and forward testing before using with real funds.