STP TradeManager for the STPatterns Strategy
- Утилиты
- Eric Evert Ouweneel
- Версия: 1.62
- Обновлено: 12 апреля 2023
- Активации: 10
The STP Trade Manager is a utility tailored to the ST Patterns strategy by Vladimir Poltoratskiy (www.stpatterns.com)
While specifically made for this strategy, it can also be used for other trade management. Especially when you have a need for quickly making trades and risk management.
It is a huge time saver and helps in quickly drawing the different ST Patterns corridors.
People familiar with the ST Patterns strategy will recognize and above all; appreciate the functions of this EA.
This trade manager will help you to quickly place limit or market orders, taken from the Fibo corridors as per the ST Patterns strategy.
Some features are:
- You can put two different Fibo's on the chart and place them on the fractals. Then the EA will calculate instantly the required levels for SL, TP and BE, and on top of that; the required lot-size for the risk you have entered.
- The Fibo will change color when your corridor is too big/small. SO instant notification. No more manual measuring if the corridor meets the requirements. (Also on HTF's like the H1)
- You can drag the Fibo's around and the levels are instantly recalculated.
- The EA can place limit or market orders.
- This EA will monitor you open trades and move the SL to break-even when price hits the Turnaround/BE-trigger level.
- With one trade open,for example; a BUY, and price reaching the BE-level and then a second corridor for a SELL develops, the EA will close the BUY order once the SELL Limit order placement is triggered.
So one trade cancels the other. - The EA can auto close an open trade at a preset time before a news event.
(Like in the strategy: 1 or 3 hrs before the news)
For this feature you need a free news indicator in your MT4/indicator folder. That can be downloaded here: https://bit.ly/STP-indicators - The EA can close all trades at the end of your trading day, at the time you have set in the box on the chart.
- Ability to manual close open or pending trades from the chart itself.
- Measurement line tool, for quickly getting the pip/point distance between two fractals.
- For trading on the higher TF's like the H1, the EA has the needed ADR/2 levels auto-calculated. It even shows the appropriate value for a specific day in the past.
There is no more need for the ST Patterns ADR/2 indicator - Lot size can either be fixed or percentage based. The percentage risk has the advantage that even when moving the Fibo-levels around, the set risk for the order will always be the same.
- Ability to set a custom account balance value. So that a different value then your MT4 account balance is taken as base for the risk percentage. e.g set 1% of 5000 USD, instead of using 1% of your actual balance of 10000 USD.
The YouTube video will go over the features and different settings for the EA
Look at the link below for detailed explanation of the functions and settings:
https://www.mql5.com/en/blogs/post/748768
Write the author a PM for a free, one month fully working demo. (The free demo from mql5 might only work in the strategy tester)
