trade panel DaVinci Trade Helper
Manual Forex trading is a complicated and sometimes routine task that requires a lot of attention from the trader. After the trading signal appearance, every second counts when opening an order, the profit directly depends on the speed and reaction. To facilitate intraday trade in the Meta Trader 4 terminal, new indicators, scripts and assistant advisors are constantly being coded by programmers.
Assistant advisor DaVinci Trade Helper was created to make the fatigable work in the terminal more convenient and faster. It does not make decisions about trades, but helps you trade independently in a professional way. A position is opened with a few clicks, now you do not need to use the built-in “Single-click trading” panel or manually set values through the “New order” button.
Working with this tool is quite simple, even a first-timer can quickly learn how to use the DaVinci Trade Helper program and successfully use it for trading. The panel is located in the upper left window of the chart by default. It can be moved to any convenient place on the chart by holding the mouse button on the window title and minimized by clicking on the corresponding icon. The number of buttons has been minimized for more convenient operation.
The program has a high degree of ergonomics, offering a more professional approach to trading to a trader who trades in the Forex market manually.
Control buttons description:
Depending on the situation on the market and your entry signals, you need to choose the trade direction – Buy (Purchases) or Sell (Sales). If one of the buttons is activated, the second is deactivated.
Then, of course, the order type should be determined– Market or Pending. A market order opens immediately at the Bid price (for sale) or Ask (for purchase). When a pending order is activated, a grey line on the chart appears to indicate a specific price for opening an order. Depending on the current price (above or below the line), the advisor will determine the type of order by itself – STOP or LIMIT.
Then comes the money management unit. If you activate the Lot button, then the order will be opened with the specified and fixed lot. Risk% automatically calculates the lot as a percentage of the Equity account (the function will not work if Stop Loss is not set in the settings). The correct risl calculation is the most important task for any trader. In accordance with numerous professional advice, the risk should be from 0.5 to 5% for one trade, depending on your trading system, timeframe and Stop Loss value.
The Take Profit and Stop Loss panel is optional, thus it is disabled by default. When the Take Profit button is activated, a green bold line will appear on the chart at a distance specified in the settings in the “old points”, i.e. the calculation is in 4 decimal places (2x for pairs with JPY). The line position relative to the price is determined according to the trade direction. When clicking on the Stop Loss button, a red Stop Loss line, which is also involved in calculating the Risk%, is displayed. All lines can be freely transferred within the chart, they have convenient information signatures in the right corner. If the line is not located correctly, the panel and the line text will display the “ERROR” inscription.
After all the settings are set, goals are defined, it remains to open the order by pressing the OPEN ORDER button.
An additional trading panel function is the ability to close already open market orders (Close all orders) with a single click, as well as delete pending orders (Delete all pendings).
As you can see, the settings are not complicated and it is not difficult to understand them. We were posessed by creating a free analogue of the trading panels popular in the network in order to improve the quality of trade for each trader.