Tools Trade Manager
Forex Tool Shed
offers tools for the MetaTrader 4 trading platform. These tools
consist of Expert Advisors , Indicators and Scripts, which will
manage and monitor your trades, make your trading experience less
stressfull, and allow you to spend less time in front of your
Our premier product is TM, the Trade Manager, an
MT4 Expert Advisor designed to manage your Forex trades for you.
TM can set your initial Stop Loss and move the
stop from 1 to 5 times to specified targets as your
trade moves along in profit. It will also Take
Profit at 1 to 5 specified targets, closing
a specified lot size at each target.
Additionally, TM offers two pip by pip Trailing Stops and a
fractal trailing stop. TM will also alert you via
popup, sound, email, or cell phone when a stop is moved, when profit is
taken, when the trade is stopped out, or when a specified profit level
has been achieved.
With this completely customizable Expert Advisor, you can take a trade
and walk away from your computer, knowing that the Trade Manager
will manage all aspects of the trade for you.
For more info about the Trade
Manager or to place an order, click on the Trade
Manager link under MT4 Tools on the left.
you trade the news? Would you like to?:
NewsHound is an MT4 Expert Advisor that allows you to
trade the spike in price caused by news announcements. You
provide a few parameters to define when to enter a trade and how to
manage it and NewsHound does everything else for you,
automatically. You can set the EA in place minutes or hours prior
to the trade and then, just seconds before the news announcement,
NewsHound will straddle the current price with pending Buy and/or Sell
orders. When the price spike activates the pending order, then
NewsHound manages the stops and profit taking for the trade, all
Because the price moves so
quickly on an announcement, the NewsHound can manage the trade much
more quickly and more efficiently than you could do so manually.
For more info about the NewsHound or to
place an order, click on the NewsHound
link under MT4
Tools on the left .
The EA Monitor expert advisor was
designed for monitoring the status of trades generated by
robots–status information such as number of wins, losses and pips for
the day, week and month, historical drawdown stats, and progress and
info pertaining to current trades. But it can be used to monitor
any types of trades, not just auto-trades, including trades with and/or
without Magic Numbers. It can be set to monitor a single currency
pair or up to nine pairs. It also does some minor trade
management, like moving the stop to Break-Even when a trade gets to a
certain profit level, or stopping a trade when its drawdown gets to a
certain pip level or percent of account level or taking profit when a
specified profit level is achieved. It also provides popup,
sound, and email alerts when profits or drawdown achieves a specified
For more info about the EA
Monitor or to place an order, click on the EA
Monitor link under MT4 Tools on the left .
to use a Magic Number on your trades?
The $OpenMagic and $Bracket scripts allow you to create
orders with a magic number assigned to them. Click on the Magic
Numbers link under Documents on the left for a
description of Magic Numbers.