Trade Adjustment Panel for MT5
Info
The Trade Adjustment Panel for MT5 is a Expert Advisor for MetaTrader 5 that trade adjustment panel is an on-chart utility for metatrader 5 that allows for the modification of active market positions. This Expert Advisor functions exclusively as a post-execution management tool for trades initiated manually or by other Expert Advisors.
Usage
This tool is typically used for automated trading on major forex pairs and gold.
Platform
This Expert Advisor works exclusively on MetaTrader 5 (both build 600+ and newer versions).
Setup
Place the downloaded file in MQL5/Experts folder via File ? Open Data Folder in MetaTrader 5.
How to Install and Use Trade Adjustment Panel for MT5
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
Trade Adjustment Panel is an on-chart utility for MetaTrader 5 that allows for the modification of active market positions.
Typical Use Case
This Expert Advisor excels in automated trading and technical analysis on MetaTrader 5.
Compatible Platform & Setup
This Expert Advisor works on MetaTrader 5. Place the file in the MQL5/Experts folder and restart the terminal.
Description & Settings
Related: Quantora Trade Manager MT5: Advanced Position Management - another powerful expert for MetaTrader 5 traders.
Trade Adjustment Panel is an on-chart utility for MetaTrader 5 that allows for the modification of active market positions.Also recommended: Professional Automatic Trailing Stop Utility for MetaTrader 5 - similar expert with strong performance on MetaTrader 5.
This Expert Advisor functions exclusively as a post-execution management tool for trades initiated manually or by other Expert Advisors. It does not include any logic for entering trades, generating signals, or placing orders.
Functional Overview
1. Stop Loss Management
- Break-Even: Moves the Stop Loss to the order's open price.
- Break-Even Offset: Adjusts the Stop Loss to the open price plus or minus a specified point offset.
- Profit Locking: Secures a predetermined profit margin by adjusting the Stop Loss level.
- Trailing Stop: Dynamically updates the Stop Loss based on a set point distance from the current market price.
2. Take Profit Calculations
- Risk:Reward Targets: Automatically calculates Take Profit levels using 1R, 2R, or 3R multiples. These calculations are based on the initial distance between the entry price and the current Stop Loss.
3. Volume Management and Partial Closures
- Preset Volume Modification: Closes specified percentages of open volume: 25%, 50%, 75%, or 100%.
- Validation Protocol: Verifies the position's volume against broker specifications (SYMBOL_VOLUME_MIN and SYMBOL_VOLUME_STEP) before sending modification requests to prevent order execution errors.
4. Execution Filters
- Symbol Selection: Applies actions only to the symbol of the current chart or to all active chart symbols within the terminal.
- Direction Selection: Filters actions based on order type, allowing for Buy positions only, Sell positions only, or actions on both directions simultaneously.
5. Graphical Interface and Safety Controls
- On-Chart GUI: Developed using native MQL5 object classes. The interface can be repositioned on the chart, minimized to a title bar, and closed using a button that removes interface objects and calls ExpertRemove().
You may also like: Quantora Risk Calculator MT5 - Professional Trade Risk and Reward Calculator - excellent alternative for expert users on MetaTrader 5.
Source Code
#property copyright "RobotFX"
#property link "https://robotfx.org"
#property version "1.00"
#property description "This code is educational. Feel free to use, modify and upgrade as you wish. Visit ROBOTFX.ORG for professional trading tools"
#include <Trade\Trade.mqh>
enum ENUM_SYMBOL_FILTER
{
FILTER_CURRENT_SYMBOL,
FILTER_ALL_SYMBOLS
};.......
⚠ 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.