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Open lock 5.9
Open lock 5.9
Archive : Open lock 5.9
Reduced account drawdown is made possible by the expert advisor.
To do this, the lost trade is divided into several little components, each of which is closed independently.
The EA can communicate with other professionals. For instance, Open Lock can disable the other expert and begin following its commands when a specific decline is achieved.
You can get the open lock for MetaTrader 5 here.
Techniques the EA employed
Locking to stop the drawdown from growing
Using average orders to mitigate the loss
partial shutdown to lessen the deposit burden
Small lots are used to open averaging orders in order to avoid loading the deposit.
These orders’ profits are utilized to close the losing position in part.
The blog provides instructions for setting up and utilizing Open Lock.
Parameters for expert advisors
Language: The control panel’s interface language
Averaging order identification using the magic number. It must not correspond with other EAs’ magic numbers.
Trade mode – Trade mode
Open and close orders in usual manner while opening and closing orders.
closing orders only (Another advisors will open orders)
– If enabled, the EA will only shut and lock positions. Another EA must open the orders. Only orders opened with the Open Lock’s secret number will be accepted by the EA. EA
The most amount of a lot that may be opened by the EA in an averaging sequence (0-not utilized). If 0, there is no limit on the lot size.
The most averaging orders may be placed in one direction is known as the maximum number average ord in one direction (0-not utilized).
Maximum step is the largest step (in pips) that may be defined between averaging orders (0-not utilized). If 0, there is no limit to the step. Only when the dynamic step is enabled is this option used.
When to begin working, start working
during startup – immediately after turning on
By drawdown level – once the drawdown level is reached
If the option to “By drawdown level” is chosen, the drawdown value in the deposit currency must be given.
Stop the work of further advisers and other professionals in the terminal (works only when the drawdown level is reached)
Disable this functionality if not using it.
Close the chart with the same symbol (for advisors on single currencies)
– charts that are near to the current symbol. Other symbol charts won’t have their charts closed.
All other charts should be closed (for multicurrency advisors).
– shut other charts to stop other experts from working.
When the risk limit is reached, take action – especially if the free margin is extremely low (action is activated 30 seconds after the drawdown is reached)
Nothing
stopping and locking all positions
Stop and close all positions.
Equity level in dollars – equity level below which the prior parameter’s effects take effect (if 0, not used)
Equity level expressed as a percentage – drawdown rate. The drawdown value will be shown on the control panel if it is more than 0 and Action when the risk limit is achieved is None.
Order opening window – period during which orders for averaging can be opened
Every time
Plan for opening average ord(24H) – permitted time frame
if scheduled trading is chosen, the time to begin trading (can take values from 0 to 23)
If planned trading is chosen, the time to halt trading is displayed (can take values from 0 to 23)
How to set the EA parameters in settings
use a control panel
Use expert inputs; EA inputs must have parameters configured. By MetaQuotes, while dealing with VPS, this mode must to be utilized.
Locking allows you to lock out losing positions.
Lot size for the first location in the new lot
Enable the lot multiplier in a dynamic lot. The new deal’s lot size will be multiplied by the coefficient if this parameter is enabled.
Size of the lot multiplier: lot multiplier
How to open new orders in steps
Activate the step multiplier in dynamic step
Dimensions of the step multiplier
Trading direction for the EA’s direction.
UP/DOWN: The EA will initiate both purchase and sell transactions.
Only up will the EA purchase, and only down will the EA sell.
Close orders are those that the EA must deal with.
All lost orders are unprofitable orders.
One order only; include the ticket shown below with it.
If the “One Order” mode is selected above, order the ticket if it is set to “One Order.”
Close the losing portion of the property.
Close profit is the benefit from terminating a portion of the lost order.
The Expert Advisor begins a transaction when you launch it and then seeks to profitably conclude it.
Use the buttons on the control panel to open more market orders.
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