This EA can be very useful for manual traders. This EA is like a semi automated EA, cause it can open the trade with a single mouse click. It will adapt depending on your set up. It can be, buy now, sell now, buy stop, buy limit, sell stop, sell limit. If you want to use the pending order for your strategy, simply press "Enable Pending Order" and EA will place another line (yellow), this line will be like the pending order price.
For example you chose 2% as the risk size and EA is showing 0.18 lots as the recommended size. If you press the "Buy Now" button it will place an instant buy trade with stop loss and take profit levels depending where your lines are on the chart.
The same example fits for pending order set up, just EA will place the pending order on the pending order line (yellow) when you will hit the "Open Buy Stop" button for example.
This EA helps a lot, you don't need any extra calculator or something like that and it's fast to open the trades if you're in a hurry. All you need to do is select your desirable risk size, stop loss and take profit levels with the lines and that's all.
This trading tool doesn't work with the strategy tester, only with live charts.
The Panel shows this data:
Risk% - you can choose your desirable risk%, which will be used to show recommended lot size and potential loss.
Stop level - it shows the current price of your stop loss line (red line).
Take Profit - it shows the current price of your take profit line (green line).
Trade Info - it shows the current type of the order.
Risk Reward - it shows the current risk reward ratio depending on stop loss and take profit levels.
Lots - It shows the current recommended lot size depending on your risk% size and stop loss level.
Potential Loss - it shows what your loss will be in case of the stop loss.
Spread - it shows the current spread size of the pair where EA is placed.
Pip Value - it shows the pip value of the pair where EA is placed. This value is also included in the calculation of the lot size.