This risk management tool for MetaTrader 4 and 5 calculates optimal lot sizes based on user-defined risk parameters, account balance, and currency. It provides a graphical user interface for setting entry, stop loss, and take profit levels visually on the chart. The expert advisor accounts for commissions, swaps, and m
Utility · MT4
Deadswan Line Tool
The Deadswan repository for MetaTrader 4 provides a utility designed for chart visualization and manual trade planning.
GitHub stars1
Forks3
Last update8 years ago7 Feb 2018
LicenceNone stated
Overview
Deadswan Line Tool automatically plots multiple horizontal lines on the chart at predefined price intervals, allowing users to define the number of lines, colors, and thickness. The tool uses a millisecond timer to maintain and update these visual elements in real-time. While labeled as an expert advisor, the code focuses on object creation and labeling rather than automated trade execution. The documentation is minimal, and the source code uses Chinese variable names.
- Automated price level plotting
- Configurable line style and colors
- Millisecond timer for UI updates
- Text labeling for price points
Details
Author
oliverswan on GitHub
Type
Utility
Platform
MetaTrader 4 (MQL4)
Markets
Any symbol
Timeframes
Any timeframe
Risk profile
No grid, martingale or hedging logic was found in its code or README. That says nothing about how it performs: backtest it first.
How to install it
- 1Download the sourceUse "Download source (.zip)" above, or clone oliverswan/mql4 from GitHub, and unzip it.
- 2Open the data folderIn MetaTrader choose File, then Open Data Folder, and go to MQL4/Experts.
- 3Copy the filesCopy the .mq4 file into Experts, and any .mqh files into the Include folder the code expects.
- 4Compile in MetaEditorOpen the file in MetaEditor and press Compile. Fix any missing includes the compiler reports.
- 5Test before you tradeRun it in the Strategy Tester, then attach it to a demo chart and allow algorithmic trading.
Third-party code. ForexR did not write, test or endorse this EA, and the summary above was generated automatically from its README and code. ForexR lists only repositories with readable source code and never hosts files. Read the code, backtest it and use a demo account first; automated trading can lose money quickly.
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