Useful forex trading tool for manual trading. This EA trades with horizontal lines, which are drawn on the chart. This trading robot is quite simple, but it can be used in many ways. It can be the previous day's low or high price levels, support and resistance levels, pivot points, news trading, some indicator's levels, and many other ways. Basically, it's 95% auto; you just need to draw your levels on the chart, and EA patiently waits to open them. By drawing horizontal lines on the chart, you hide your trading levels from your broker compared to the real pending orders. Using this EA, you can place as many levels as you need to. Once the trade has been opened, EA deletes the line to avoid opening a trade at the same price level again.
How do I use the Level Trader EA for MT5?
First, attach the EA to the chart. Set your desired settings, like lot size, stop loss, take profit, and trailing stop. EA is ready; now you can draw horizontal lines on the chart. Just be sure the colors are the same as what you just set in the settings. Once everything is prepared, EA opens a trade as soon as the line has been crossed by the current price.
Explanation of the settings:
Fixed lot - simple fixed lot which is applied for each trade.
Stop loss pips - set a stop loss in pips which will be used for each trade separately.
Take profit pips - set a take profit in pips which will be used for each trade separately.
Pips on profit to enable - once reached, break even is applied.
Offset pips from open price - the distance from the open, in this way you can avoid spread size by adding extra 2 pips for example.
Trailing start pips - once the trade has this amount of profit, trailing stop is activated.
Trailing stop pips - trailing stop distance from the stop loss to the current price.
One trailing step - it's basically how often do you want to refresh the trailing stop.
Trading time settings - that's simple, simply choose time and weekdays you want to trade.
Spread filter - set max allowed spread size in pips, EA checks it before opening the trade. If the spread size is too big = no trade.
Magic number - use magic number rule if this EA is used in more than 1 chart. Read more.
Download the DEMO version of the Level Trader EA MT5 and try it in the strategy tester, before purchasing this forex trading robot MT5.
Payment methods: PayPal, Skrill.
With a Paypal account you can purchase this EA by pressing a Paypal button below. After your successful payment, please contact us and we will send your copy of the EA. Your EA will be delivered in a few hours or faster.
If you want to purchase this EA with a Skrill account. Please contact us.
This EA has no any limits:
Works with any timeframe
Works with any market
Friendly settings menu
Easy to set up
There are no any restrictions
Best quality guaranteed
This is what the prepared chart looks like. The blue line is ready for a buy trade, while the red line is ready for a sell trade.
Below, you can see the settings of the robot and horizontal lines. The color of the vertical line must match the color of the horizontal line. These colors have to be the same. So if you set the blue color for the buy position, then when you put horizontal lines on the chart, they have to be in the same color (Blue).It only matters if the color, name, or description can be any of them. In this way, the trading robot knows his lines. The same procedure applies when selling positions. Indeed, don't set the same colors for buy and sell positions. Once the blue line has been crossed from below to above, EA opens a buy trade instantly. Once the red line has been crossed from above to below, EA opens a sell trade instantly. If you need more trades, just put more horizontal lines on the chart. You can draw as many horizontal lines as you need to. Blue color = buy. Red indicates a sale. In this way, you can trade in the various situations and prepare your chart for a few strategies, for example. Usability is endless. The buy and sell colors are just for illustration purposes; you can use any colors for the buy and sell setup.
An example of how you can prepare the grid for both sides.
An example of how you can use the Level Trader EA MT5 with the ZigZag indicator.
Inputs menu of the EA.
EA has the most used features, we don't want to add too much stuff in the original EA. So we offer custom updates for any of our EA - you can easily order a custom update and adapt this EA to your specific needs.
If you have any questions simply contact us and we will answer all your questions.
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