This necessitates you account with an alternative agent and one account with a Forex broker which supports trading from MetaTrader.
My tool is great for strangle choices, but trading single options is also allowed. The Expert waits for the cost to reach one of the strike prices, and then opens positions, thereby reducing losses.
Check out the screenshots and movie clip.
There are 4 options for alerts when changing the color of the lines displayed on the charts.
- Take profit – take profit in pips
- Stop Loss – stop loss in pips
- Fixed Lot-volume in lots
- Distance – distance from the current price in pips (a very important property – for example, you want to hedge options with strike prices 100 pips lower and 100 pips higher than the current price. If your strike price is 50 pips, specify 50 pips. If you have only one option, set the strike price for it and drag the line of the other one to a safe zone where the price cannot reach it during the expiration time)
- Magic number – if you have more than one Expert Advisor running
- Break Even – breakeven (true or false)
- Break Even Trigger – in pips – activate the breakeven trigger, for example, 10 pips from the Distance parameter
- BE pips in profit-protect your profit in pips
- Trailing Stop – trailing stop (true or false)
- Use expire time-apply the expiration time (true or false)
- Expire time – the expiration time of your options (important property. Make sure that the expiration time matches the expiration time of the options. Always check the time of your trading terminals!)