This MT4 Trade Manager EA is called the TFA Manager (different from the TFA Enforcer) and works purely based off the charts you attach it on. It was designed to help traders easily place stop losses and take profit levels based on risk % after putting a pending order. It also has additional features unique and exclusive to the TFA system by audo detecting whether price had entered into the DZ zone in the past x minutes (useful for the Pontus trading system)
Conventional method on MT4 is very tedious and brain draining everytime you want to place an order :
1) Calculate your stop loss distance
2) Calculate the required lot size based on risk % of account
3) Place your pending order
4) Edit your order to the desired levels
5) Adjust your stop loss accordingly and usually inaccurately
6) Adjust your take profit level accordingly
7) Manually adjust stop loss to breakeven
8) Manually close % of position when price has moved % towards TP target
New TFA Trade Manager method :
1) Place your pending order at your desired level
– Default stop loss and take profit level is automatically set
– Lot size is adjusted based on your stop loss level and risk % of account
– Any adjustment to stop loss is automatically transferred to your take profit level based on pre-determined risk to reward ratio
– Lot size is automatically adjusted based on new stop loss levels
– Breakeven adjustment + offset when price is % towards TP target
– % partial close when price is % towards TP target
– Optional DZ Filter (to check if price had entered DZ zone X minutes ago and if it hadn’t, trade is not executed)
– Autoadjust market orders too (can’t adjust lot size of course)
– Optional trailing stop loss activation when price reaches X% of profit target (allows you to ride large moves all the way)
So you can see that the TFA Manager has been designed to help you trade with complete ease from the charts. It frees up a lot of your mind and takes away the tediousness of checking, adjusting, readujsting and monitoring your orders.
How to use this TFA Manager : Make all changes before turning the TFA Manager into “Working” mode. If you want to make any changes to the settings, you have to turn if “OFF” first, make your changes, then turn it into “Working” mode again.
Risk to Reward Ratio : this is the ratio at which the Trade Manager EA will adjust all stop loss and take profit levels. So if this value is 1.0, it means when you set a stop loss of 10 pips, the take profit is automatically adjusted to 10 pips. If you adjust the take profit first, then the stop loss will be adjusted after.
Partial close : this is the % of your position you would want to close when price has moved in your favour and is “Percent from” your entry. Example would be if you have a lot size of 1.00 and your partial close is 50%. If your “Percent from” value is 40%, this means that when price has achieved 40% of your TP (hence it is “40 percent from” your entry) it will close off 50% of your open position which in this case is 0.50 lots.
BE percent : this is the percent of your TP price would have reached before adjusting your stop loss to breakeven. If your TP is 10 pips away and this value if 60%, it means when price has moved 6 pips towards your TP before stop loss is moved to breakeven.
BE pips : this is the number of pips in your favour we will add to the stop loss once it has been moved to breakeven. This is usually used to cover some commission cost. Example would be when BE pips is 2.0 pips, your breakeven stop loss would be +2 pips instead of exactly at breakeven (entry price).
% Trail On : this is the % of your TP price would have reached before removing TP and replacing it with a trailing stop loss at current price offset by “Pips offset” number of pips. This feature is meant to help you catch those moves that breakout in your favour. An example would be if you had your TP at 10 pips, % Trail On at 90% and pips offset at 2.0 pips – once price has reached 9 pips in profit (hence 90%), your SL would be moved to 9 pips – 2 pips = 7 pips and start trailing price.
DZ Filter (buggy, do not use yet) is used if you do not want to enter a trade because price had not entered into the DZ zone in the past X minutes. This is part of Pontus’ criteria where if price doesn’t go close to DZ zone in the past 15 minutes before entry, he would not enter a trade.
DZ Sensitivity (buggy, do not use yet) should remain as 10 for audusd, eurusd, usdjpy, usdchf, nzdusd although for currency pairs that are more volatile I would shift this to 20.
Distance to DZ (buggy, do not use yet) is how far away from the DZ zone would you allow price to be to allow a trade to still occur. This is useful for cases where price nearly touches the DZ zone but doesn’t.
Number Minutes Back : (buggy, do not use yet) this is how many minutes back before price touches your pending entry will you look back for.
Autoadjust is used if you want the TFA Manager to adjust your market orders, these are market executed orders (not pending orders). These orders do not factor in the auto risk % and is instead just used when you want to be able to adjust your market executed order’s SL and TP quickly and accurately (based on risk to reward ratio).
AutoSLTP : is used primarily for automatically setting your SL and TP levels when you place an order. It is especially useful for pending orders which usually require you to edit > enter SL > enter TP > drag to correct levels. This feature automatically sets a SL and TP level for you so you can easily drag the levels to your desired price.
Only Magic : this is if you intend to trade more than 1 strategy on your currency pair and do not wish for the TFA trade manager to handle every single trade for that currency pair.
Auto Risk % : this feature automatically adjusts pending orders to the correct lot sizes based on the stop loss and the risk % you have set. Very useful feature as it handles all the calculations for you even when you adjust your stop loss repeatedly.
Now that you’re done learning about the TFA Manager, it’s important you know that is was designed to complement the Breakout Pullback Strategy we designed here with the help of Pontus so be sure to check it out.
There are some areas that still requires touching up like the DZ sensitivities to auto detect currency volatility along with the trailing stop loss feature which can be further improved to add more flexibility. All these will be added in the next update and will be updated here.