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Effortless Risk Manager for MT5 - get visual tool that by three mouse clicks on chart can place any type of the order in accordance with risk management.

Effortless Risk Manager MT5

Get visual tool that by three mouse clicks on the chart can place any type of the order according to risk management.

Effortless Risk Manager for MetaTrader 5 was designed to place orders visually between different levels of support and resistance or between supply and demand zones. The tool facilitates placing any type of the order in accordance with risk management. Placing orders exactly according to what you see on the chart increases probability of trading successfully.

 

How to use Effortless Risk Manager MT5

In Effortless Risk Manager panel select and enter wanted percentage value of account balance that you will risk in one trade. Risked value can be set from 0.1% of account balance. Entered value is resistant to MetatTader platform restart.

Click button Calculate and you should see „Price Area”, which is price spread + broker minimal distance to price + additional pip distance added by you. If you do not see „Price Area”, then change chart time frame to lower or increase additional pip distance in settings. Price Area can't be smaller than the spread or spread + minimal distance to current price level, which can be set by your broker. In order to facilitate placing market orders on higher time frame or if spread area is too small you can increase the Price Area by additional pip value in settings. Every order placed in Price Area will be placed at the market, so the size of the zone is not relevant – set this area to be comfortable for placing market orders due to price can escape from this area.

 

Placing orders on the chart

If button Calculate is pressed, then you can start to draw the order according to what you see on the chart. By drawing I mean, by clicking selecting order entry level, stop loss level and take profit level.

Choose your order price level; it can be nearest support or resistance, or what do you think is important. If price is in Price Area then order potentially will be placed at the market, but In this case you should be aware of price movement.

Next you need to select stop loss level. It can be below nearest bottom or above any top, consolidation or what you like. While you are placing the stop loss and you pause mouse pointer movement, then you can read its value in balloon hints. When you click mouse button, then stop loss level is set. Next place the take profit level in the same way.

Now, after three clicks your potential order is ready for sending and you can assess the order by reading values from its labels. If the order does not meet your expectations, then press key Esc or Delete and you can start drawing the order again. In other case by key Enter or button Place you will place the order.p>

 

 

Buy KL Effortless Risk Manager for MT5 trading application in the store of automated robot systems

Features

  • Effortless Risk Manager prevents you from risky trading using Risk Management from 0.1% of account balance per one trade.
  • Effortless Risk Manager automatically knows what type of order you want to place.
  • You are placing orders with the appropriate lot size, which is calculating from entry level to stop loss distance.
  • The lot size of the order is calculated according to the broker permitted minimum, maximum and lot step.
  • SL and TP are calculated according to what you drawn on the chart, so from labels you clearly see potential gain and loss.
  • From labels also you can assess trade probability and approximate duration of trade if the order was drawn according to previous swings.
  • Jumping vertical line shows on chart nearest occurrence of holidays and weekend that helps asses trade duration (shows gaps in candles).
  • Effortless Risk Manager accelerates and facilitates placing the orders, all very easily, all in three mouse clicks. The fourth click is sending the order.
  • Key "Delete" interrupt drawing and removes wrong drawn lines and labels.
  • The calculation does not consider broker commission, which is added to the order when order was placed. Because of this, in settings you will find additional pip value that can emulate percentage value of the commission.

 

Additional features of Effortless Risk Manager MT5

  • You can change lines colours, width, style and font colour for labels.
  • You can switch on/off auxiliary lines of holidays and weekend occurrence.
  • Effortless Risk Manager can manage chart properties automatically.
  • You can change colour of Effortless Risk Manager panel and set chart wallpaper.

 

Buy KL Effortless Risk Manager for MT5 trading application in the store of automated robot systems

 

Current version 1.410 - 2017.08.21 - Solved problem with inputs that disappears due to changes in mql5 language and MetaTrader 5 platform. Fixed bug with sell stop order. New program appearance.
Version 1.38 - 2015.04.22 - Support for RTS-6.15 and RTS-9.15 where order price must be rounded to 10 RUR. In this version inputs disappeared (version available on mql5 market).
Version 1.35 - 2015.04.10 - added choice of order expiration, true = 24h, false = does not expire.

Important: Too many events on the chart can slow down the panel's sliding. Ctrl+B => List all and delete obsolete objects Event.

If you identify any bugs or if you have any questions or suggestions feel free to let me know. Feedback are most welcome.