Money Manager Graphic Tool
Info
The Money Manager Graphic Tool is a Indicator for MetaTrader 4 that changelog:v1. 03:- Enhanced stability.
Usage
This tool is typically used for enhancing chart analysis and decision making.
Platform
This Indicator works exclusively on MetaTrader 4 (both build 600+ and newer versions).
Setup
Place the downloaded file in MQL4/Indicators folder via File ? Open Data Folder in MetaTrader 4.
How to Install and Use Money Manager Graphic Tool
1. Installation: Place your file in the MQL/Indicators folder via "Open Data Folder" and restart your terminal.
2. Loading: Find the indicator in the Navigator, drag it onto your chart, and configure the input parameters in the popup window.
3. Customization: Press Ctrl+I to open the indicator list, select your tool, and click "Properties" to change colors, levels, or visual styles.
4. Updating: Replace the old file in the Indicators folder with the new version and restart the platform to apply changes.
Frequently Asked Questions
Q: Why is my indicator not showing? A: Verify the file is in the MQL/Indicators folder, or try right-clicking the "Indicators" tree in the Navigator and clicking "Refresh."
Q: Do custom indicators slow down the platform? A: Too many complex indicators can impact performance; remove unused ones via the "Indicator List" (Ctrl+I).
Q: Can I use MT4 indicators on MT5? A: No, MQL4 and MQL5 are distinct languages; ensure the indicator is compiled specifically for your platform version.
What this tool does
Changelog:v1.
Typical Use Case
This Indicator excels in automated trading and technical analysis on MetaTrader 4.
Compatible Platform & Setup
This Indicator works on MetaTrader 4. Place the file in the MQL4/Indicators folder and restart the terminal.
Description & Settings
Related: trend manager open2: enhancing trading efficiency - another powerful indicator for MetaTrader 4 traders.
Changelog:v1.03:
Also recommended: institutional anchored vwap (smart money benchmark) - similar indicator with strong performance on MetaTrader 4.
- Enhanced stability.
- Improved compatibility with 1-digit symbols.
- Corrected EA for better error handling and open order functionality.
v1.02:
- Introduced magic number.
- Added stop loss on/off button.
- Corrected indicator and EA for pending order accuracy (remember to update the EA).
The Money Manager Graphic Tool displays lot size, ratio, risk, and facilitates order placement (buy, sell, buy stop, buy limit, sell stop, sell limit).
Press the 'b' key to activate the Money Manager Graphic Tool, which will display a buy line with SL and TP at the mouse position.
For selling, press the 's' key, customizable to your preference.
Enable the 'follow price' button to align the buy/sell line with the price movement, automatically adjusting TP and SL.
Remove TP by making it disappear.
Move any line, and the tool will update accordingly.
Adjust risk or lot size in the sandbox section.
Broker limits are visible at the bottom, turning red when reached.
Drag the dialog box or double-click to lock it in place.
Installation:
- Load the indicator as usual.
- Add money_manager_ea to your chart.
- Enable trade opening.
- Activate 'autotrading' to enable the Money Manager Graphic Tool button, allowing trade execution with selected parameters.
Parameters:
In the provided image, the 'b' key was pressed with the mouse at 0.61833. The order button is absent because money_manager_ea.mq4 is not loaded.
With money_manager_ea.mq4 loaded, ensure 'autotrading' is activated.
If the smiley in the top-right corner is unhappy, enable 'allow live trading' in money_manager_ea options.
Experiment with TP, SL, buy/sell lines, ratio button, lot size, and risk adjustments. The tool automatically selects the appropriate order type (buy, sell, buy limit, sell limit, buy stop, sell stop).
Red indicators signify reaching broker SL/TP or lot size limits.
Choose 'follow price' for simple buy/sell orders, with TP and SL dynamically adjusting.
Recommendations:
- Rapid price movements may prevent order execution, triggering an alert. Retry the order in such cases.
- The tool has been extensively tested for over a week without issues. Feedback is welcome for any encountered problems.
You may also like: Money Flow Index (MFI) Price Indicator - excellent alternative for indicator users on MetaTrader 4.
Source Code
#property copyright "robotfx"
#property link "https://robotfx.org"
#property version "1.03"
#property script_show_inputs
#property indicator_chart_window
#property strict
enum lot
{
standardlot, //standard lot 1
minilot, //mini lot 0.1.......
⚠ 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.