[MT4 Order Tool]

Order Placement, Settlement, Lot Calculation | Complete Discretionary Trading with Just This

For those who want to try this toolclick here

https://www.gogojungle.co.jp/tools/indicators/56021

Instructions on how to use it are explained in the video below using actual charts.

Thanks to you, it has been downloaded by a total of 1200 users.

Overview of the "MT4 Easy Order" Order and Settlement Panel

The features included in "MT4 Easy Order" are as follows.

Features

Place new orders

Settle held positions

Automatic lot calculation

We will explain each feature in detail.

Placing New Orders

Points

Easily place orders with just one button

Supports three types of order methods (Market, Limit, Stop)

Set profit and loss targets in pips or on the chart lines

By simply setting the trading tool on the chart,you can easily place an "Order" with just one button.

Three Types of Order Methods

Market Order

Limit Order

Stop Order

For "Limit" and "Stop" orders, you can set the "Order Price" by moving the entry line (horizontal line) on the chart.

Orders with Profit and Loss Targets

Furthermore, with "MT4 Easy Order,"you can specify "Take Profit" and "Stop Loss" in pips when placing an order.

By checking the box for profit and loss, the lines for "Take Profit" and "Stop Loss" will be displayed on the chart as shown below.

On the chart,once you have set the profit and loss lines, you can place an order by pressing the "SELL" or "BUY" button.

At that time, the order lot should be set in advance in the "Lots" section of the panel.

Since important spread information for discretionary trading is displayed in "pips" and the "cost" in the account's margin currency,you can instantly check "spread fluctuations" and "trading costs."

Settlement of Held Positions

You can easily settle the positions of the currency pair displayed on the chart with just one button.

If you want to settle a sell position, press the "SELL Close" button; if you want to settle a buy position, press "BUY Close"; if you want to settle both positions, press the "ALL Close" button.

View Information on Held Positions

You can check the "lot size," "profit and loss in pips," and "profit and loss amount" of your held positions on the screen.

This allows you to see the current profit and loss at a glance when settling, making the process smooth.

Automatic Lot Calculation

Set the allowable loss,and simply move the stop loss line (SL Line) on the chart to automatically calculate the optimal lot.

First,choose the allowable lossandwhether to "sell" or "buy.".

The allowable loss can be specified on the panel asa percentage of the account's excess margin (%)oras a "monetary amount.".

Next, move the stop loss line (SL) on the chart to set it at your desired price.

When you move the stop loss line, it automatically calculates the optimal lot based on the set"allowable loss" and "stop loss distance." The"optimal lot" is calculated to ensure that the loss amount matches the allowable loss if it hits the stop loss.

For example, let's say you are trading USD/JPY.If you set the "allowable loss to 100,000 yen"the "stop loss distance to 50 pips,"

In this case, the profit and loss per lot is
50(pips) × 0.01(yen/pip) × 100,000(currency) = 50,000 yen.

Optimal Lot = 100,000(yen) / 50,000(yen) = 2 lotscan be calculated.

In other words,if you enter with 2 lots and hit a stop loss of 50 pips, it will result in a loss of 100,000 yen.That is the implication.

The calculated lot will be displayed in the "Calculated Lot" section.

Once you confirm that the lot has been calculated,you can place an order with the automatically calculated "lot" by pressing the "ORDER" button.

How to Set Up "MT4 Easy Order" in MT4

Please set up the order tool in the same way as MT4's "EA."

First, open the data folder of the MT4 you want to use.

Next, save the downloaded ex4 file in the MT4 data folder.

Note

If "automated trading" is not allowed, the "order" will be canceled.

Please make sure to check "Allow automated trading" in the text.

Panel Settings

In "Parameter Input,"you can set the initial values of the panel and the colors of the lines.

Regarding the "Panel" tab, you can change whether to set take profit/stop loss (TP/SL Setting) and the initial lot size (Initial Lot). The settings can also be changed directly on the panel on the chart.

The "Lot" tab sets the display position of the take profit/stop loss lines in "pips." For example, if set to "10," the take profit/stop loss lines will be displayed at prices 10 pips above and below the current "Bid price."

Additionally, you can set the order's magic number, allowable slippage, colors of the take profit/stop loss lines, and the initial position of the "MT4 Easy Order" panel. Please note thatif the slippage is too small, the order may not go through, so please be careful.