Introduction
Welcome to the comprehensive guide on using the Price Action Trade Panel EA MT4, a unique trading robot that scores high on the MQL5 marketplace. This robot is designed to assist traders by integrating a strength meter, providing critical insights into currency strength and weakness. Let's dive into the nitty-gritty of installing, setting up, and maximizing the effectiveness of this EA. Don't expect too many praises; I'm here to provide a grounded look at this tool.Installation and Setup
To start with the Price Action Trade Panel EA MT4, follow these steps:- Download the EA: First, download the EA from here.
- MT4 Directory: Copy the EA file to your MT4 directory under 'Experts.'
- Launch MT4: Restart your MetaTrader 4 platform to enable the new EA.
- Attach to Chart: Open a chart and attach the EA by right-clicking and selecting 'Expert Advisors' > 'Attach to a chart.'
- Configure Inputs: Customize the inputs such as risk parameters, lot size, stop loss, take profit, and break-even points to tailor the EA to your trading strategy.
- Enable AutoTrading: Ensure 'AutoTrading' is enabled to allow the EA to execute trades.
These steps should make the Price Action Trade Panel EA operational on your MT4 platform.
Experience Using the Robot
When I tested the Price Action Trade Panel EA, it performed as advertised, with a few caveats. The strength meter is a useful feature, but don't expect it to be a magic bullet. You still need to use your brain for assessing market conditions. The alerts system worked well, albeit with minor nuisances such as alerts without pairs' names if some currency slots are left blank.Tips for Improvement
Even if you think you’ve got everything sorted, there’s always room for improvement:- Monitor Points Movement: Implementing Samir’s suggestion to monitor the points movement in the last eight candles could be a game-changer.
- Price Alerts: Add the current price at the time of the alert to make quicker decisions.
- Quick Load Settings: Utilize set files to quickly load your preferred settings, saving valuable time.
- Visual Cues: Use symbols and dotted lines for visual cues on the chart to easily track open and close positions.
- Dark Mode: If staring at bright screens gives you headaches, a dark mode option could be a lifesaver.
Original Code for Price Action Trade Panel EA MT4
It's important to note that we do not have access to the original code of the Price Action Trade Panel EA MT4 that is sold on MQL5. However, based on its description, we can create a similar robot. If you have any questions or would like to see this example code, feel free to ask. Remember, this code is an example from easytradingforum.com and not the original code sold on MQL5. Our team does not sell the Price Action Trade Panel EA MT4.
Code:
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