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The Expert Advisor helps to reduce the drawdown on the account.

To do this, the unprofitable transaction is divided into many small parts, each of which is closed separately.

The Expert Advisor can interact with other experts. For example, when a certain drawdown is reached, Open Lock can disable another Expert
Advisor and take over the work with trades.

Open lock for MetaTrader 5 is available here

Open lock for MetaTrader 5 is available here

Averaging orders are opened in small lots, so as not to load the deposit.

The profit on these orders is used to close some of the unprofitable positions.

Recommendations
for setting up and using Open Lock are described in my blog

  • Language – the language of the control panel interface
  • Magic number – unique number of averaging orders. It must not match the magic numbers of other Expert Advisors
  • Start work – when to start working with transactions
    • At startup – immediately after the start
    • By drawdown level – after reaching the drawdown level
  • Symbol drawdown in currency – the amount of drawdown in
    the deposit currency(must be specified if the value By drawdown level is selected above)
  • Stop another advisors-the ability to stop the work of other expert advisors in this terminal (works only when
    reaching the drawdown level)
    • Not use – do not use this feature
    • Close chart with the same symbol ( for single currency advisor’s) – close charts for the current symbol. Charts
      other characters will not be closed.
    • Close all other charts (for multicurrency advisor’s) – close all other charts to disable the work
      other expert advisors
  • Action when the risk limit is reached – actions at a critical level of free funds (the action is enabled
    30 seconds after the drawdown occurs
    )
    • Nothing – do nothing
    • Locking all positions and stop – lock all positions and stop
    • Close all position and stop – close all positions and stop
  • Equity level in currency – the level of funds below which the actions from the previous parameter will work (if 0 – not
    is used)
  • Equity level in percent – the amount of drawdown in percent. If the parameter is higher than 0, and Action when the risk limit is
    reached
    -None, then the drawdown size will be displayed on the control panel
  • Maximal lot in average ord (0-not used) – the maximum lot that will be opened by the Expert Advisor in the averaging order.
    At 0, the lot will not be limited
  • Maximal number average ord in one direction (0-not used) – maximum number of averaging orders,
    open in one direction
  • Maximal step (0-not used) – the maximum step (in pips) that can be set between averaging orders.
    If 0, the step will not be limited. Used only if dynamic step is enabled
  • Settings – how the Expert Advisor will be managed
    • Use control panel-from the control panel on the chart
    • Use expert inputs-the parameters specified below in the expert settings. This mode should be used when
      working on VPS Metaquotes

[spoiler title=”Read More…”]

  • At startup – immediately after the start
  • By drawdown level – after reaching the drawdown level
  • Not use – do not use this feature
  • Close chart with the same symbol ( for single currency advisor’s) – close charts for the current symbol. Charts
    other characters will not be closed.
  • Close all other charts (for multicurrency advisor’s) – close all other charts to disable the work
    other expert advisors
  • Nothing – do nothing
  • Locking all positions and stop – lock all positions and stop
  • Close all position and stop – close all positions and stop
  • Use control panel-from the control panel on the chart
  • Use expert inputs-the parameters specified below in the expert settings. This mode should be used when
    working on VPS Metaquotes

At launch, the Expert Advisor opens a trade itself, which it then tries to close with a profit.

To open additional market orders, you can use the buttons at the bottom of the control panel.

[/spoiler]

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