Magic Lines is a visual order entry, management and risk control system for MetaTrader 4.

It’s not another expert advisor, indicator, robot or guaranteed-to-win scheme that will make you rich overnight.

Do you recognize this:

When I  first started trading minute charts with Metatrader 4 I soon discovered that I couldn’t enter a trade quickly without typing all kinds of stuff in: takeprofit, lot size, stop loss, order type etc. It took me at least 10 seconds before I could push the place button. And when I wanted to change something, I had to fire up that complex thing again.

A lot can happen in ten seconds. You may miss a trade or the market may move quickly up to a level that you are not interested taking the trade again. A 10 pips move while you accurately enter your stoploss, take profit level and the size of your contract.

Can’t all this be done in an easier way? Yes it can.

We developed a set of scripts that allow you to enter a trade in Metatrader 4 in less than a second. The scripts also allow you to modify your stoploss and take profit in no time. And last but not least, the system calculates your lot size based on the position of the stoploss vs the market price so you never risk more than 1,5% or 2% (or whatever other default risk you want to take) on a trade. By quickly repositioning your stoploss as the market goes up, you can visually lock in your profit (or minimize your loss if the market moves against you).

Here’s a video of a quick order entry and then stoploss and takeprofit modification. In this example we want to place a long order. We position our stoploss (red line) below the market price and the take profit line (green line) somewhere above. We run the script, and the 1,5% risk order pops up in no time. When we want to modify our stoploss or take profit, we just drag and drop the red and green line and you see that the dashed lines Metatrader uses to depict these levels follow quickly.

This is how it works:

If the red line (stoploss) is below the green line (takeprofit), it’s a long order, otherwise it’s a short order. The distance between the red line and the market price indicates a maximum risk in pips. Based on your balance and the setting of 1,5% the script calculates the appropriate lot size. If you put your stop at 12 pips and if you have 3000 euro balance, the number of minilots is 1.5%*3000 / 12 = 3. If you had put your stoploss at 20 pips, Magic Lines would have set the lot size to 2 minilots. And all that in less than a second.