Place Trade expert advisor is designed to enforce and enhance trader’s discipline. This tool is essential for beginner traders but can also be used by advanced retail traders using MT4 platform. You can find a guide on how to to get the full potential out of the Place Trade Expert advisor by clicking the blue hyperlink.
Concepts behind Place Trade expert advisor
First, the tool provides a trader only one button to open a position. Trader can place either BUY or SELL pending orders according to a chosen filter. It is supposed that a beginner trader should discipline himself to filter up signals his system provides and enter only the trades which comply with a traders strategy. Second, user is not allowed to place direct market orders.
This is an important part of enhancing beginner trader discipline. Trader can only place pending orders based on predetermined reasons and not impulsive trading. Lastly, user can easily follow his risk management, using an easy to use 3 lines system and 2 risk management modes.
Place Trade expert advisor inputs
You can choose from seven different filters out of which four are customizable.
Range filter: You can set the first and last hours of the range.
SMA filter: Set SMA periods and timeframe.
Ichimoku filter: You can change the timeframe.
Swing filter: You can set the timeframe.
Place Trade expert advisor settings General settings include: Option to change panel size from the font size/panel size field. Delta Risk, which determines the increment for the amount on risk in the Amount Management Mode Amount “in the money” for going BE in the account currency if trader enforces positions to go BE using the manager panel. Seconds to cancel the management command. The EA will retry to execute a management command if initially unsuccessful for a specific period of time (default 60 seconds).
Place Trade expert advisor download
To download your indicator use the “Download” button at the bottom.
Create your custom indicator
If you would like to create your own custom indicator, please contact AtoZ Markets team. Also, don’t miss out on various other indicators you can find here.
How do you install an EA on MT4?
In order to install an EA on MT4, you need to:
1. Click on Download button below;
2. Save the the file to your computer;
3. Go on your MT4, press FILE then OPEN Data Folder;
4. In the New Opening window, click and open MQL4 and then click and open Experts;
5. Copy paste the .ex4 file in the Experts folder;
6. Restart your Metatrader platform;
7. Open “Navigator” from Metatrader toolbar;
8. Scroll down and select “Expert Advisors”;
9. Search and select “NZ_PlaceTrade”;
10. Adjust settings or press OK to add the EA to your selected chart;
Note: NZ Place Trade expert advisor was developed by AtoZ Markets. AtoZ Markets carry copyrights over this trading instrument. Do you have a reliable indicator or EA? Would you like to share it with our users?