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 locking 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);
- Mode of operation – Testing / Trading with manual main entry, or with the main robot;
- Lot – lot only for the Testing operating mode;
- Take profit of the main order – take profit of the main order for the Testing 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);
- Initial stop loss of the lock– initial stop-loss of the lock, points. It is set when the pending lock turns into a market lock;
- Break Even – anticipating the closing of the active lock when the price returns in the direction of the profit of the main position, points;
- Activation for Break Even – the level of activation of the break-even level, from the level of the initial locking line, points;
- Trailing the initial lock line – trailing of the initial locking line, points, (0 – trailing is disabled).
The “Testing” 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 “Trading with manual main entry, or with the main robot” mode.
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.
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.
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.
If there are market positions, the robot sets the pending lock at the level specified by the initial lock line. When the price moves towards loss, the lock will become market and will not allow the loss to grow. The price can go any distance in the direction of loss, but the loss does not increase. When the price returns to the initial lock level, the robot closes the market lock at Break Even point, which will allow you to return funds from the drawdown when the price moves in the direction of the profit and continue to make a profit. Break Even level is activated when the price reaches the Activation for Break Even level in the direction of locking.
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 locking level should be set where a stop loss would be placed in manual trading 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.
Latest version 3.1:
- Improved lock control algorithm. The algorithm is coordinated with the trader community.
- Organized the transfer of closing the lock to the breakeven point.
- Trailing of the initial locking line is organized.
Download demo version. It only works in the strategy tester.