The robot is used in manual trading to block losses at any price movement against the trader. Allows profits to grow as prices move in the right direction.
It can lock many positions with one lock of the total volume.
It can be used in conjunction with other robots to block their losses, and bring positions to profit.
Strategy – blocking loss by locking and returning deferred profit
This robot is the development of the idea of the popular Lock balancer for the MT4 terminal. It is made for the MT5 terminal and improved.
Principle of operation
Instead of the traditional stop loss, the trader manually sets the initial lock line of this robot. The robot monitors the behavior of prices relative to this line. If the price goes against the trader, then the robot locks the position (or several positions) with a counter order, which limits the loss as a stop loss. But this is better than stop loss, as it allows you not to lose positions with any, even too large movements of the price in the direction of loss.
Timely closed lock allows you to return the lost capital with the subsequent return of the price to its original position, and also allows profit to grow when the price moves in the direction of profit. The robot provides all the functions of controlling locking and unlocking around the level set by the trader. It ensures minimization of losses when the price moves in the direction of loss, and opens up the possibility of profit growth when the price moves in the right direction.
- Language – robot message language (English/Russian);
- Direction – trade direction (BUY/SELL);
- Market entry mode – Automatic entry if no orders / Manual entry;
- Lot – lot only for automatic entry into the market;
- Take profit of the main order – take profit of the main order placed in the automatic mode, points (0 – no take profit);
- Magiс of the main positions – Magic of the main positions, (0 – we work with positions set manually);
- Magiс of the lock – Magic of the Lock (0 – lock will be without Magic);
- Timeframe for analysis of extremes – timeframe for analyzing extremes (not the timeframe of the chart).
The robot itself can set a pending main order and an initial lock line (the “Automatic entry if no orders” entry mode is selected) or wait for the trader to set an order or position manually (“Manual entry” mode).
The “Automatic entry if no orders” mode is used only to demonstrate the operation of the robot in the strategy tester; it should not be used in real trading. In real trading, use only the “Manual entry” mode, even if another robot will set the main positions.
Use the “Direction” parameter to indicate the direction of the main positions (BUY or SELL).
You can set several main positions in one direction, and then turn on the robot. You can set both market positions and pending orders. You can combine them.
Orders (positions) should not have stop-losses; instead of stop-losses, the robot will apply a common lock.
If the robot is used to insure manual positions, then you need to set “Magic of the main positions” = 0, “Magic of the lock” = 0, and set the mode to “Manual entry“.
If the robot is used to insure the positions set by another robot, then the “Magic of the main positions” parameter must be set to the same as the Magic of another robot. The parameter “Magic of the lock” can be set the same. In this case, the “Manual entry” operating mode is used.
Different values of the parameters “Magic of the main positions” and “Magic of the lock” can be used to organize locking in different directions on one account. For this robot, Lock balancer is installed on two charts of the same currency pair.
In the presence of market positions, the robot sets the delayed lock at the level specified by the initial locking line. If the price moves towards the loss, the lock will become a market one and will not allow the loss to grow. The price can go any distance in the direction of loss, but the loss will not increase. When the price returns to the initial lock level, the robot will close the market lock and establish a deferred safety lock, which will allow you to return funds from the drawdown and continue to make a profit when the price moves in the direction of profit. In case of price fluctuations around the established initial locking line, the robot moves the lock beyond the local extrema of the price chart near the line to reduce losses by a special algorithm.
The position of the initial locking line can be manually adjusted at any stage of trading, depending on the strategy of the trader. You can also manually move the pending lock. You can also manually move market lock targets. All these interventions do not interfere with the operation of the robot. You can manually delete a lock, the robot will immediately install a new pending lock in the location indicated by the initial locking line.
When you close all positions by take profit or manually, the robot will automatically close the lock.
The initial lock level should be set where, when manual trading, a stop loss would be set in accordance with the chosen strategy. However, to reduce locking losses, one should strive to choose a level where the probability of flat formation is small. If during the operation a flat is noticed at the level of the initial lock line, which leads to frequent lock triggering, it is advisable to move the line manually outside the flat border.
Download demo version. It only works in the strategy tester.