Smart Trader EA is a semi-auto MT4 Expert Advisor to help traders perform manual trade using trading best practices such as favorable risk-reward ratio. The key features are as follows.

  • Preset stop loss and the risk-to-reward ratio -> The EA will automatically take care of the stop loss and profit target price without the need to calculate yourself.
  • Set the lot size manually or use % of Capital to risk in one trade.
  • Expert Mode -> Enable expert mode and open a trade in one click (without confirmation).
  • Trailing Stop -> Once enabled, the EA will move the stop loss up (for buy) or down (for sell) when the price moves in your favor. This can reduce the actual loss and risk.
  • Close Without Profit -> Once enabled, the EA will close the order once it turns a profit. You also can set a minimum profit to only close it when it hits its minimum profit. This is useful when the trader decides that this is a wrong trade and you just want it to close without loss and without the need to monitor the trade yourself.
  • Open Pending Order -> The trader clicks on any place on the chart and the EA will draw a price line then you can place a pending order on that line. This is useful if you are targeting to trade for a break-out setup.
Open Pending Order when Price breaks out on 1.10423

Pending Buy Order after click on Open Pending Order

Trading Panel

Smart Trader EA comes with a Trading Panel as explained below.

Trading Panel Explained

Configuration

Smart Trader Configuration
  • % of Capital to Risk in one Trade -> This configuration will only take effect if you set Lot Size to 0. It is the percentage of capital you are willing to risk in one trade. Eg. if your account balance is USD200, setting this value as 10, the EA will risk USD20 for each trade.
  • Lot Size -> If you set a lot size here, the above configuration will be ignored. IT will use this lot size to trade for each trade.
  • Risk Reward Ratio for Profit Target -> The EA will use this Risk Reward ratio to calculate the profit target.
  • Stop Loss -> The EA will use this stop loss in point to set the stop loss.
  • Magic Number -> A unique number for the EA to keep track of all trades by the EA.
  • Expert Mode -> Once enabled, all confirmation dialog will be removed. This is for expert traders.
  • Minimum Profit for Close Without Profit Button -> By default, if you enable Close without Profit, the EA will close the order in a split second once the trade turns positive. If you set this value, the EA will close once the trade has a profit over this minimum profit.

Feature Demonstration