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The ProTrader trading panel is a professional tool for comfortable trading

The ProTrader trading panel is a professional tool for comfortable trading

The functionality of MT4 or MT5 is enough for novice traders who rarely work with several currency pairs or timeframes at the same time, they rarely need instant situation analysis and one-click trading. In professional trading, profit or loss depends on the speed of making a decision and pressing a few buttons. The ProTrader trading panel is an intraday trading tool that will help you improve the accuracy and speed of technical management of trades, charts and trading in general.

ProTrader Panel – Overview of Features and Interface

The ProTrader panel is not a trading advisor, although it is installed in MT4 in the Experts folder. It does not open positions, does not give signals – it displays as compactly as possible all the most important information, which would require several informational scripts. Using the panel, you can open/close trades in one click, instantly change stops and take profit. Additional functionality – if the maximum risk level is set in the settings, the panel will automatically calculate the position volume in lots for each new order.

Panel features ProTrader:

  • Quick management of open deals. The quick access panel to orders allows you to open/close a deal in one click without opening the order window. True, the MT4 platform itself has this function.
  • Quick reversal of the deal. Useful tool for scalping. You see that the market suddenly went against you, one click – and the old transaction is closed, a new one is opened in the opposite direction in the same volume.
  • Transition to breakeven. If the price went in the predicted direction, it would be logical to move the stop loss to the breakeven level or insure the position with a trailing line. In MT4, an order can be shifted manually. In the ProTrader panel, you can move a stop loss to breakeven with one click.
  • Closing all orders. In one click. Another option that is important at times of time pressure. For example, closing all deals opened by the adviser.
  • Management of risks. The program will help calculate the potential level of risk and the amount of loss in monetary terms. And it will automatically calculate the volume of the transaction according to your input data.
  • Magic number. Expert Advisors are running – set the number of trades they open and manage advisor trades manually.
  • Trading results. The panel groups trading statistics according to different criteria. You can track the level of loss or profit in currency/points for any period. The program also calculates the ratio of risk level to current income.
  • Information panel. Displays the state of the market: currency quotes, current spread, daily volatility, values ​​of some indicators (RSI, CCI) on different timeframes can be connected.
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The ProTrader panel consists of several windows. You can place them under your tasks, close some of them, etc. They look like this:

1 – The main block for managing deals, which contains buttons for instant opening/closing a position, reversal, moving stops to the breakeven level.

2 – An information window that displays quotes and data from technical analysis indicators.

3 – Information about the current balance, margin, profit, etc.

4 – Information window with trading statistics in currency and points.

5 – Detailed information on the transaction with the ability to manage it: hedging, averaging, reversal, insurance at the breakeven level. Some of the functions are duplicated from other blocks. But this is done rather so that the trader does not display all the blocks on the screen, leaving the appropriate ones.

6 – The line of a possible trend reversal. It can serve as a guide, but since there are many options for finding reversal levels, it is turned off.

Additional functions:

  • Invisible stop loss and take profit levels for the broker. An option for those who believe that a broker can trade against a trader and intentionally catch pending orders with shadows.
  • Locking a transaction in one click. In MT4, for locking, you will have to open a separate order window and re-set the trade volume and stop parameters.
  • Automatic opening of transactions when a trend line or channel is broken. You draw a trend line manually, activate the option, after which the deal is opened automatically. True, the panel does not track false breakouts. There is a similar option for a channel breakdown.
  • Order grid management. Grid parameters are set in the settings – step, lot for each order, number of orders in the grid. Thus, it is possible to form a grid for working according to the averaging strategy.
  • Phased deal closing. In the settings, specify the volume of partial closing upon reaching a certain price level. The panel allows closing a position in three installments.
  • Several types of trailers. If it is the only one in MT4, then there are 5 types of them. Fixed – will follow the price at a fixed distance. Dynamic trailings are trailings, the length of which will change depending on the indicator attached to it. These are ATR, EMA, PSAR, HighLow.
  • A set of keyboard shortcuts for quickly placing pending orders.
  • High spread protection. If the spread is higher than the set one, the panel will not allow you to open positions.
  • Conditions for closing deals. Depending on the balance of money on the account – by profit/loss in percentage/monetary terms, the panel automatically closes all transactions.
  • Management of position volumes during averaging. The settings suggest three options for increasing volumes: multiplication by a coefficient, the use of Fibo coefficients, a shift.
  • Closing deals at a specific time of a given date. For example, before holidays, weekends, or before news releases.
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Conclusion. The ProTrader panel is a handy tool for automating a number of actions from placing market and pending orders to managing already open positions in a few clicks. The disadvantage is that it covers about a quarter of the screen. But this drawback is leveled by opening two identical charts in different windows.

About Eric R. Brinkley

CEO Fxbotreview.com Algotrader. Blogger. I write interesting content, do content with you, and also maintain a website with independent reviews of forex software. Trading robots, Indicators etc..

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