AutoOrderModifyEA Pro

What is AutoOrderModifyEA Pro?

AutoOrderModifyEA Pro is a trading support tool for all Manual and System Forex Traders.
It works perfectly for situations like:

“I have a nice EAs but lacking the Trailing and/or Break Even function.”
“I’m lazy to calculate StopLoss and TakeProfit every time I open a position.”
“I want to control all of my manual trading and/or by EAs with Trailing/Break even”
“It’s annoying to calculate all of opened positions for averaging.”

As an extra gift, we include one supporting tool called, OneClickMagicTrader.
With OneClickMagicTrader you can open positions with specific magic numbers that you wish to use for each trades. If you combine both AutoOrderModifyEA Pro and OneClickMagicTrader you can manage your manual trading more precised and sophisticated. (Personally, I believe it’s really functional).

Major functions:

1. Automated TakeProfit and StopLoss: Just open the positions you wish!
2. Automated Trailing by Magic Number.
3. Automated Break Even by Magic Number.
4. You can easily turn off/on of all functions.
5. You can manage positions opened by other EAs.
6. You can manage manual trading positions.
7. The possibility to combine multiple opened positions.
8. Auto calculation of StopLoss by the account balance. (from ver. 1.07)
9. Average Trailing and StopLoss of various opened positions (from ver. 1.10)
10. Loss Reduction: auto recovering mode in case of unexpected losses (from ver. 1.18)
11. The initial StopLoss and TakeProfit ordered by an EA could be modified by the AutoOrderModifyeEA Pro.
    (It means that we can modify the value of those StopLoss and TakeProfit that are not possible to be modified by parameter.)

Manual trading supporting tool: AutoOrderModifyEA Pro

Automated StopLoss and TakeProfit orders

AutoOrderModifyEA Pro can take over the positions opened by other EAs and send the orders of StopLoss and TakeProfit due to its special function. This EA can manage positions by entering their magic numbers, meaning that AutoOrderModifyEA Pro can send modifying orders with A value for one EA, and B value for another EA. (This function is developed only for the AutoOrderModifyEA Pro).

One example of usage of this program is to prepare two different strategies for a same EA (Pattern 0 and 1).
One strategy is for the normal market situation, another strategy is for the high volatility situation.
When the market tendency changed from one to another, we may change [Pattern 0=True to False] and [Pattern 1=False to True]. You may do the same adjustment by changing the EA’s parameters each time but it is definitely easy and functional to select “True/False” of AutoOrderModifyEA Pro.

Another example is to take over positions opened manually, generally speaking the manual trading positions have 0 as magic number. Defining a pattern for magic number = 0 you can manage all manual trading.
RMKS: If the target positions are managed by an EA with trailing, breakeven, takeprofit and/or stoploss function, AutoOrderMdofiyEA Pro may cause the endless modification orders. (The original EA may fix the stoploss, AutoOrderModifyEA Pro changes the stoploss, the original EA re-fix the stoploss, ………).

Automated trailing stop

AutoOrderModifyEA Pro can also manage positions by the trailing stop function. If your favorite EA is lacking the trailing stop, why not to add it? As same as other function, you can give one configuration for one pattern and another for other pattern.

Trailing Mode

StopLoss Standard

For example, if you define 30 pips for StopLoss and 20 pips for TrailingStop, trailing would start when the position reaches the benefits over 20 pips. When the benefits reaches 30 pips, the stoploss would be placed at -20 pips.

Trailing Distance Mode

TrailingDistance = 30 pips.
TrailingStop = 20 pips.
→ When the position reaches 20 pips benefits, the trailing would start. Stoploss = -10 pips (20pips-30pips）
→ When the position achieves 30 pips benefits, stoploss = 0 pips (30pips-30pips)

Another example. If you wish to assure 30 pips benefits when the position reaches 100 pips: TrailingDistance = 70 pips, and TrailingStop = 100 pips. This gives more flexibility to the strategy.

HighLow Trailing Mode

This is the function to be used for “One day after opening the LONG position; to be placed stoploss at the last day’s lowest point (highest point for SHORT) if the opened position is in profit. Originally this was developed as a part of trailing function, so this will work only when the stoploss < last day’s lowest point. (It means that if the last day’s lowest point is similar to the current point).

This will be applied continuously, meaning that if the day after today is better, it will re-place the stoploss again.
On the above example, Daily time frame is used but this function works fine with M1 to Week time frames.
Bellow is an example of the setting by the time frame of H1.

After opening the position, it enters into the profit line. We see that the stoploss is placed at one line before of the time frame H1（USDJPY 122.8 approx.）

The price rise higher, and the min price was updated meaning the stoploss is also re-situated.（USDJPY 122.93）

The situation of this example seems a little calm, may yes but may not to have big positive movement. However, in case that the price rises again, the stoploss would be set newly at the current bottom line (USDJPY 123.00 approx.).
In the opposite case, the position will be closed at the current stoploss line with a profit.

CONFIGURATION

Activate “High Low” on the “TrailingMode”.
Let’s select the time frame for the “TrailingHLTimeFrame”（ex D1, H1 …）

On the “TrailingHLBuffer” we shall define the buffer value of the previous line low or high.
Let’s place the value somewhat far from the bottom price (expecting that this will be the supporting range line).

Example）In case of LONG:
The last day’s lowest price was USDJPY 122.
TrailingHLBuffer is set as 1.0 (pips).
→ The stoploss will be placed at USDJPY 121.99.

In case of SHORT:
The last day’s highest price was USDJPY122.
TrailingHLBuffer is set as 1.0 (pips).
→ The stoploss will be placed at USDJPY 122.01

Auto StopLoss calculation

It is now possible to manage the stoploss by the percentage of ”the current account balance”
This function will be activated by selecting “True” of the [UseMoneyManagementSL] (Default is “Fault”).
Please define the StopLoss by the percentage.

It could depend on the way of trading of each user but we may recommend maintain 5% as a max percentage value.
※Developer’s comment:
“In my case, I never use this function over 1%. But I understand that there are some traders to invest few amount of money with high percentage of risk. So, in this case I rather say that it’d be ok to use over 5 % as well”

※RMKS
It’s necessary to have the forex rate data, meaning that this EA is receiving internally the data of each currency pairs. This means that it’s important that the EA can recognize correctly the currency pairs data, hence if the currency pairs have the additional prefix or suffix, such as “_pro” it is necessary to define these on the “PareEndChar” parameter.

Automated BreakEven

BreakEven shall be used to assure the minimum benefit you wish. For example, you may define the BreakEven value just over the initial open price. Often happens that a position is in a profit for a while and you wish to gain a little more however the final result ends with negative profit. With BreakEven function, you may save your account balance from these disasters.
TrailingStop has similar function but BreakEven won’t change the StopLoss line once after fix it, BreakEven often works better for a strong trend market situation.

Trailing and BreakEven by Percentage

The previous version was developed with the concept by pips, however from this version the user can create its own strategy by the percentage of the desired TakeProfit.

Ex) We open a position of USDJPY with 100. Let’s say that the TakeProfit target is 110 and we define the Trailing initial point as 50%, meaning that the trailing function will start from 105.

【Start Trailing at 50％】
USDJPY 110　TakeProfit
USDJPY 105　Begins the Trailing
USDJPY 100　The position opened

BreakEven works with the same idea. If we add “BreakEven at 20%”
Let’s see the next example.

【Start BreakEven at 50％】
USDJPY 110　TakeProfit
USDJPY 105　Begins the Trailing
USDJPY 102　Begins the BreakEven
USDJPY 100　The position opened

The mentioned above is just an example but as you can see AutoOderModifyEA Pro shall give you many possibilities and flexibility to your trading style in concern with both of manual and system trading.

MagicList = * : Wild card

“I wish that AutoOrderModifyEA Pro shall take over all positions of all EAs but the magic numbers are so many that it’s not realistic to enter all of them.”
“My EA changes the Magic Number internally and it’s hard to figure out the real Magic Number”.

For these users, we’ve added the wild card function. Please input the * on the MagicList. This will activate the AutoOrderModifyEA Pro to take over ALL POSITIONS. Also it’s possible to choose the range of magic numbers by adding # before the magic number.

The preference starts from [Pattern 0] so please study the following.

Example 1
[Pattern0] 12345,77777
[Pattern1] *
→AutoOrderModifyEA Pro will manage 12345 and 77777 with the criteria defined for Pattern0. All other positions will be managed by the criteria defined by Pattern1.

Example 2
[Pattern0] 12345,77777
[Pattern1] #1000~1999
→AutoOrderModifyEA Pro will manage 12345 and 77777 with the criteria defined for Pattern0. Positions with magic numbers between 1000 to 1999 will be managed by the criteria defined by Pattern1 (2000 won’t be managed).
※Magic Number 2000 won’t be managed in this example.
※Do the same when you want to define the magic number by the negative value. In this case the big number shall be written left.

Combine function (from Pro version)

The advantage of trading with various positions

Generally speaking, it is quite common to operate with adding positions for the trading direction that a trader has decided. The idea is like; “With my account balance, I can trade with 0.30 lot size but, for now I’m not pretty sure the current market trend so…, well…, I open a position of 0.10 lot size for now. Later I may add next 0.20 lot size after confirming if the market trend is safe.”

The point is that the advanced traders know very well that it is quite rare to find “the best timing to open a position”.

Many breakout traders wait for a true breakout moments. After reaching the mountaintop and reaches the breakout, one may open a position with the initial lot size. Later if it creates the trend, he/she may add more positions. If the breakout was a fake, you may close the initial position no adding next positions, meaning you could avoid opening unnecessary positions.

The key factor for the forex trading is “how to save the account balance” and it means that it is critically important to operate with reduced risk. If the breakout was a fake but you had opened the position with your permitted full lot size, your loss could be big. However, if you had opened a position with a mall lot size your loss could be quite small.

To open positions with different timing works fine to minimize the risk but also it can give you more trading strategies.
If the trading option is just two; to trade or to skip (not to trade), the strategy could be a little poor; win/loss or wait for the best timing. (The best timing sounds so attractive but how you can know it?)

For example, you may invest all of your money at once when you are convinced with the market situation but this is not common. If the market situation is complicated, you may trade with divided money size and you may judge the market tendency patiently. Do you see the point? There are more trading options.

Combine multiple opened positions

The concept of positions management was individual until now but we have added the new function to manage multiple positions at once as if a single position. This is a new function added for the professional version.

It is useful as well to manage every position separately however it is indeed useful to be able to combine multiple ongoing positions as one position, it means you can manage them as if using just one stoploss, trailing stop or breakeven.

With this function you can have one stoploss, trailing and/or breakeven parameter for various position. It’s really smart and nice to trade with many positions. Those who had not yet tried to trade with multiple positions, AutoOrderModifyEA Pro will be a nice and helpful tool for you.

※The combine function of AutoOrderModifyEA Pro works only for managing the “same Pair and same direction (long/short)” positions. The other positions of different pair or direction will not be combined.
※If you open additional position (same pair and same direction), AutoOrderModifyEA Pro will re-calculate stoploss parameter newly.

AverageMode (New!)

AutoOrderModifyEA Pro has the combine function called “SummaryMode”. This function works to combine all positions of “same pair” and “same direction (LONG/SHORT)” and also the smarter function called “AverageMode” function as well.

For example, let’s say that now we have two LONG positions of GBPUSD and EURUSD, and now we want to open a new LONG position of USDJPY for the sake of risk hedge.

AverageMode can combine these positions and calculate the profit value, meaning that we can configure one Stoploss and/or BreakEven.

In addition, this function does not limit to the trading direction, meaning we can open additional SHORT positions of GBPUSD, EURUSD and USDJPY. AutoOrderModifyEA Pro will take over everything and calculate the profit as if one trading position. Therefore, the user of this program can add the position very flexibly seeing the market situation and finally close all opened position at once.

This EA can take over the positions with different Magic Numbers, meaning that we may have a main base EA with other risk hedge EAs as if one EA.

How to configure “AverageMode”

Please select True of the parameter “UseAverage”.
AverageMode is not possible to run with UseSummary. (If you leave True for both, UseAverage will be used).

When you wish to use several other EAs together

Let’s say that EA1 has a magic number 100 and EA2 has 200. Then please type “100,200” on MagicList and please select “True” for UseAverage. Then AutoOrderModifyEA Pro will start the averaging function of positions with these two magic numbers.

Points to be considered with AverageMode

If StopLoss is 20pips, it means that the positions will be closed when the average losses reaches 20pips.
For example, if one position is in negative of -30pips and another position is also in negative -5pips, AverageMode won’t close these two positions since the average stoploss is -17.5pips.

※To be more precised, the average calculation is made by the lot size; in case of -30pips=0.1Lot, -5pips=0.2Lot will result that the average pips is about -13.333…pips.

Therefore please be in mind that as much you add more positions (Lots) the possible losses could be higher.（Of course, this also means that the benefit could be bigger as well）.

This point is, in the end, coming from the point that there is not the rule of “max negative pips to be allowed“, meaning that pending orders are not possible to set either.

With normal case of AutoOrderModifyEA Pro, the users can see the trailing or trailing in action since it’s possible to see the new stoploss parameter. However with the average mode all calculation is made internally meaning that the users cannot see its function visually.

lso, this can mean that if the MetaTrader4 terminal is having some internal problem (MT4 terminal is sometime not really stable) it is possible that AverageMode is also having some trouble and stopped. Meaning that the opened positions may be left without stoploss. (As the counter measure for this possible situation, it’d be recommended to run another AutoOrderModifyEA Pro on another chart and define the base stoploss).

Trailing DistanceMode can be now managed by the percentage

From the current version, users can manage the positions by the percentage in addition to the pips.
“TrailingDistance = 20” meant that the distance of the trailing was 20pips even though the price line moved to 30 pips or even 100 pips. From this version, the distance could be figured by the percentage as well.

For example, let’s select 70 percent. When the price line moves to 30 pips, the EA will place the stoploss at 21pips benefits to be assured (30 x 0.7). When the position reaches the 100pips, the program will assure the benefit of 70pips (100 x 0.7).

The usage is quite intuitive, the user just need to input whatever-value at the TrailingDistance selecting “Percentage” of the TrailingDistanceInputMode (for example, if you want to assure 70 percentage of benefit, just type 70 here).

RMKS: This function can be used with the multiple position combine system and/or AverageMode.

Loss Reduction Function

There were functions to assure the benefit such as Trailing Stop and/or Break Even, however from this version users may assure the base account balance recovering the loss with the “Loss Reduction Function”.

We often see that our opened positions seem no way to win and the price line is almost reaching the stoploss level….
Ok, now it seems somewhat recovering, oh yes, oh no…. Generally speaking it’s sad but it’s common that we don’t expect any more to win, but we rather say if we could recover a half we even believe that it’s fine.

Loss Reduction Function was developed with this idea.

Let’s say that the initial stoploss is 100pips, the initial value of Loss Reduction is 80pips, the stoploss for the Loss Reduction is 40 pips. In this case,

StopLoss: 100
UseLossReduction: True
LossReduction: 80
LossReductionStopLoss: 40

Hypothetically our precious opened position is now 80pips negative, and the EA starts the Stop Loss function. Then TakeProfit will be set at 40 pips (40 pips negative) and the position will be closed when it recovers until this level (finally 40 pips negative).

RMKS: This function can be used with SummaryMode and/or AverageMode.

Overwriting the existing values of StopLoss and TakeProfit.

The initial development of AutoOrderModifyEA Pro was started by the idea to take controls of positions opened by an EA without StopLoss and TakeProfit. This new update was added to modify them by overwriting the positions with StopLoss and TakeProfit values.
When the parameter “UseForceSLTP” is “True”, this new version of AutoOrderModifyEA Pro will ignore the existing values and overwrite the StopLoss and TakeProfit by other EAs.
However there are some points to be in mind. For LONG positions, the desired new StopLoss should be bigger than the initial existing StopLoss. For SHORT positions, the desired new StopLoss should be lower. (*This function won’t work for widening the stoploss value but for tightning it.)
It is not possible to change only the value of TakeProfit but together with StopLoss. If you wish to modify TakeProfit value, we recommend to set 1 point to be modified for StopLoss (meaning we are modifying TakeProfit but maintaining StopLoss value).

(Example)
We trade with an excellent Breakout EA that it’s not possible to configure TP or SL, however we wish to modify the value of TakeProfit to 20pips.
Please see below:

Excellent Breakout EA
TakeProfit = 10pips
StopLoss = 20pips

AutoOrderModifyEA Pro
UseForceSLTP: True
TakeProfit: 20pips
StopLoss: 19.9pips

By this, we can modify the TakeProfit to 20pips however the initial SL is still maintained.

OneClickMagicTrader（Extra gift EA）

As an extra gift, OneClickMagicTrader is included in the package of AutoOrderModifyEA Pro.
Please read the OneClickMagicOrder.pdf for more detailed information but here you can find the brief information of this

※Those who purchase the ScalTradeAssistPro, please mind that OneClickMagicTrader won’t be included. The reason is that the ScalTradeAssist has all (and much more) functions of OneClickMagicTrader.

※AutoOrderModifyEA Pro and OneClickMagicTrader (or ScalTradeAssistPro) shall be placed on different chart on the MT4 terminal since both of them are EA. (One EA on a chart).

How to use OneClickMagicTrader

Please confirm the usage of AutoOrderModifyEA Pro on the demo account before using it on your real account.
We shall recommend you to use OneClickMagicTrader, with this EA you can open orders with a specific magic number, meaning that you can see how AutoOrderModifyEA will take over the manual trading positions. Please try it!!

RMKS

Please confirm the usage and performance of this program on the demo accounts before using it on your real accounts.

After you have found your own usage and strategy with a demo account, please save the configuration first.
On your real account, open the saved configuration setfile instead of typing everything manually. (It’s always better to use the setfile).

The responsibility of any losses caused by this program is attributed for the user.

This program is not limited for the personal accounts but business accounts as well.

It is totally forbidden any reverse engineering, modification and/or resell of the program.

The maximum concurrent number of the licenses is up to five. (Five accounts)
Please eliminate the unnecessary license from our licensing server or please make another purchase if you wish to use the program for more accounts.

Please feel free to contact us if you have any question.

 

Development Background

Thank you very much for purchasing the product.
I started the development of this program due to a request from my user, Mr. I.
After many verification with the user we’ve fixed the bugs and also applied the enhancement of the EA.
Since the verification method was detailed I believe that the final quality of AutoOrderModifyEA Pro is pretty excellent.

More detailed information about AutoOrderModifyEA Pro could be found at our site, please feel free to visit.

AutoOrderModifyPro:MT4 manual trade supporting tool（automated account balance managing tool）!!

It would be a great pleasure to know that this tool could help your trading.
I will keep developing useful tools and/or EAs, I’d feel so happy if you support it.