BlueDigitsFx Open Trades

Overview of BlueDigitsFx Open Trades

BlueDigitsFx Open Trades is a powerful tool designed for MetaTrader 5, aimed at both novice and expert traders. This tool is highly sought after for its simplicity and effectiveness in managing open trades.

Key Features

Displays currency symbols in blue for buy positions and red for sell positions.

Shows pips in blue for positive pips and red for negative pips.

Displays total pips in blue when the overall pip count is positive and in red when negative.

Compatible with any MT5 pair, making it versatile for different trading strategies.

Perfect for both new and experienced traders.

Usage Instructions

Launch the bot on the M15 EURUSD chart.

Set a unique magic number to identify trades.

Ensure time zone settings are correct, as defaults are valid for most brokers.

Set the maximum allowed number of same-time trades and lot size.

Leave the rest of the settings at their defaults; the EA is ready to trade.

Advanced Features

Trading on a calm market, suitable for any account type and broker.

Each trade is protected with a stop loss to minimize risks.

Flexible risk settings can be customized for high profits or fast recovery.

Optimized to trade any forex pair without needing to change settings for each instrument.

Advanced optimization allows for dynamic stops, targets, and trade frequency adjustments.

Settings

Multiple same-time trades: Allows opening multiple trades on the same side, with customizable max trades, lot sizing, and time/distance between trades.

Single trade, dynamic volume: Only one trade at a time is allowed, with user-defined initial and max possible volume.

Dynamic SL width multiplier: Increases the pre-calculated stop-loss.

Risk to reward ratio: Defines the take-profit to stop-loss ratio.

Trade frequency: Higher values open more trades within the timeslot, with '1' as default and '0' meaning no trades.

Recommendations

Pairs: This strategy works well with any currency pair, but best results are found using EURUSD, GBPUSD, AUDUSD, AUDNZD, NZDUSD, EURGBP, and EURAUD.

Timeframe: M15 using the default settings.

Account: For a standard account type, a reliable ECN broker with a minimum of $1500 and 1:500 leverage is recommended. It also works well with cent accounts.

Additional Functionalities

Equity/Margin limiting: Stops trading at a desired input equity/margin drawdown percent.

Compliance with FIFO rule: Ensures adherence to the First In, First Out trading rule.

News Filter: Avoids trading during high-impact news events.

Interactive On-Chart panel: Includes buy & sell buttons for manual orders managed by BlueDigitsFx.

Drawdown Reduction

Use Auto Close Partial: Implements a drawdown reduction algorithm, either in money or percentage.

Choose Close Partial Method: Options include closing partial buy & sell, closing only buy or sell, or a combination of both.

Number of trades to activate partial close: Defines the minimum number of open positions to start applying partial close.

Minimum profit to close partial: Sets the minimum profit amount to perform a partial close.

Trailing Money Management

Trailing in money: Trails profit in monetary terms.

Trail Money All in Percentage: Trails profit in percentage terms.

Happy trading! 🚀📈