Introduction
Order Manager MT4 is a trading robot designed for MetaTrader 4, offering various management features for both novice and seasoned traders. Like with any EA (Expert Advisor), user experiences can vary significantly. Let's dissect its functionality, analyze user feedback and trading results over the past year, and form an educated opinion on the robot's effectiveness.Functionality Description
Order Manager MT4 is equipped with several key features aimed at simplifying and optimizing the trading process:- Order Placement: Allows quick and easy order placement with customizable parameters.
- Order Modification: Facilitates modification of pending orders directly from the chart.
- Order Closure: Provides options for partial or total closure of orders.
- Stop Loss and Take Profit Management: Enables dynamic adjustment of SL and TP levels.
- Trailing Stop: Implements a trailing stop to secure profits as the market moves in favor.
- Break-even Function: Moves the stop loss to break even at a pre-defined point.
Result Analysis
Looking at the user feedback and the past year's trading results available on Order Manager MT4, it’s clear we have a mixed bag.Positive reviews highlight the robot's intuitive design, ease of use, and effectiveness in executing trades. On the flip side, negative reviews, like the one from osmanosman, mention significant lag and inefficiencies which can be a death sentence for scalpers.
The overall rating stands at 4 stars, indicating a generally favorable reception but not without some serious detractors.
Pros and Cons
Pros:
- User-friendly interface
- Comprehensive order management capabilities
- Responsive customer support
- Fair pricing, as noted by multiple users
Cons:
- Reports of lag and unresponsiveness
- Inconsistent performance for scalping strategies
- Mixed user experiences, raising concerns about reliability
Conclusion
Order Manager MT4 presents itself as a robust tool for managing trades with a suite of intuitive features. However, user feedback underscores potential performance issues, particularly for those engaged in high-frequency trading. It's clear that while some find it invaluable, others face critical challenges.We invite users to share their experiences and results on our forum to foster a more comprehensive understanding of this EA.
Source Code of Order Manager MT4
It's important to note that the original source code of the Order Manager MT4 robot sold on MQL5 is not available to the public. However, based on the description provided on the MQL5 site, we can develop a similar robot. If you have any questions about the code, feel free to ask.Remember, the EASY Trading Team does not sell the Order Manager MT4. We have simply created a sample robot based on its description.
Code:
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