MT4 Lite Trade Manager script is a fast executing MT4 script which allows you to easily manage your trade orders such as Market Buy or Market Sell orders, Buy or Sell Stop orders, modify your Stop Loss and Profit Target level.

Also, it features very sophisticated yet easy-to-use and accurate Money Management which allows you to use tailored Money Management method best matching to your trading style or to your trading strategy.

Briefly, it is a handy trading tool that adds extra features to metaTrader 4 trading platform to enhance the efficiency of currency trading.

Buttons

• Buy: place a market buy at current market price. Stop Loss is to be set at the Lower Line level, Profit Target is to be set at the Upper Line level.
• Sell: place a market sell at current market price. Stop Loss is to be set at the Upper Line level, Profit Target is to be set at the Lower Line level.
• Close All: close all the trades opened by MT4 Lite Trade Manager. Please note that trades opened any other way (e.g., manually) will NOT be closed.
• Buy Stop: place a Buy Stop Pending order with the predefined settings: Upper Line gives the price where the Buy Stop Pending Order is going to be activated; Lower Line gives the Stop Loss level. Profit Target to be set x times as many pips as the Stop Loss distance was (controlled by Default_Risk_Revard_Ratio input).
• Sell Stop: place a Sell Stop Pending order with the predefined settings: Lower Line gives the price where the Sell Stop Pending Order is going to be activated; Upper Line gives the Stop Loss level. Profit Target to be set x times as many pips as the Stop Loss distance was (controlled by Default_Risk_Revard_Ratio input).
• Delete Pending Orders: delete all pending orders placed by MT4 Lite Trade Manager. Please note that pending orders placed any other way (e.g., manually) will NOT be deleted.

Position size is calculated from the actual Upper and Lower Line distance when the button was hit.

 

Input Parameters

• Line_distance_in_pips: it determines the pip distance of the lines from the actual price when the script is initialised.
• Money_Management: if it is TRUE, the script calculates the position size based on the Risk percentage of the Account Balance for each trade individually. If it is FALSE, the script uses the Lot_size set instead.
• Risk_based_on_Account_Balance: if it is TRUE, the script calculates the Risk based on the Account Balance. If it is FALSE, it calculates the Risk based on the Equity Balance.
• Risk: set the risk you intend to take in percentage.
• Lot_size: set the Lot size you intend to use for all trades if Money Management is FALSE.
• Max_Lot: set the maximum Lot size you intend to use during trading.
• Slippage: set the maximum distance in pips you allow the server to execute your orders from the price set.
• Default_Risk_Reward_Ratio: set the multiplier for the Automatic Profit Target distance based on the Stop Loss distance.
• Magic: unique ID number for trades managed by MT4 Lite Trade Manager.