Last time, we examined a number of robots that automatically close your positions in certain cases and trail your Stop Loss and Take Profit levels. Today we’ll talk about a few Expert Advisors with similar and other useful options. Let's get started.
e-MSound
This EA is created to inform you when the price passes a certain distance. This will give you an idea of how things are going with your position. With this program, you don’t have to constantly look at your charts.
The EA will emit a sound signal every time the price passes the distance in pips from the entry point that you specified in the settings. The robot will track movement in both directions. That is, setting the mark at 40 points, you will receive a sound alert when the price drops or rises by these 40 pips.
e-OpenByTime
If you found the e-CloseOnTime Expert Advisor from the previous article useful, then you should like this one as well. This robot will open the position you need at the specified time. It is perfect for those traders who conduct a thorough market analysis and know in advance when exactly they are ready to enter the trade. If for some reason you cannot open a position at this particular time, the Advisor will do it for you.
Here are a couple of useful features of this robot:
- It works on all trading instruments and timeframes
- The “TimeTrade” function allows you to set the exact time for each position
- In the “Sell” option you pick the direction of your transaction
- The “Duration” function will help you set the period of time during which the trading robot will try to open the desired transaction in case the connection to the server or the Internet fails
e-News-Lucky$
This Advisor will place pending Sell Stop and Buy Stop orders if you’re away from your charts. You can manually select the time at which the robot should place the orders. You also set the distance from the current price to these stops yourself.
In case your pending orders didn’t work out, the trading robot will move them closer to a current price taking into account the distance you’ve set in the program.
Please note that the frequency of the trailing of your stop orders will depend on the timeframe you trade. That is if you want the Advisor to modify their position every hour, trade on a 1-hour chart. To make changes every 5 minutes, select the M5 chart.
e-ScreenShot
It happens that some indicators don’t work quite “honestly”. They redraw the lines and miss some price movements. Every program has its own nuances. Catching a “dishonest” indicator, especially the one you paid for, is very important but extremely difficult. Especially if you don’t have time to monitor it.
The e-ScreenShot robot will come to the rescue. From the name, it’s clear that it will make screenshots of your charts. The frequency of these photos is controlled by the choice of a timeframe. The EA takes a screenshot after the closure of each candle. To make a photo every 5 minutes, run your indicator and e-ScreenShot on the M5 timeframe. You will find the screenshots in the folder ..\experts\files\.
e-SoundWorkOrder
Another useful Expert Advisor that will notify you with a sound signal at the right moment. This robot monitors the opening of pending orders. As soon as one of them works out you will immediately know about it.
Please note that you need to run the program on one chart only. It will still continue to monitor all your pending orders on all trading instruments.
e-Trailing2
The next Advisor that works with your stop levels. You can use it for one or several charts at the same time. For the first case, you need to set the option AllSymbols=True, for the second one choose AllSymbols=False.
The robot uses two different types of exit levels modification which are also managed in the program settings:
- TSProfitOnly=True - the levels are transferred as soon as the profit on your positions exceeds the set trailing distance
- TSProfitOnly=False - as soon as you open a trade, the robot will automatically transfer the Stop Loss And Take Profit levels to the distance you’ve specified
e-SOTrailing and e-LOTrailing
Perfect helpers for those who place stop orders on chart reversals. If you incorrectly estimated the correction distance, the Expert Advisor will automatically transfer your pending orders closer to the price when it goes too far from your initial orders.
You can manually set the trailing distance in the settings of these trading robots.
To Summarize
These are all useful Expert Advisors for today. Their main advantage is that they work flawlessly. Once you decide on your trading plan and compare it with your daily schedule, you can decide which of these programs may be useful to you.
If you use other equally useful robots, write about them in the comments under the article. Your knowledge may be useful to another novice trader.