Magic Lines Forex

Magic Lines simpliefies Forex and index trading by adding visual trading functionality to Metatrader 4:

Risk management included!
Every Forex order you enter with Magic Lines will limit your risk to 1.5% of your account balance. The lots size is calculated based on your account balance and the distance between stoploss and buying/selling price. So if your stoploss is put far away from the buying/selling price, it will buy less lots. If your stoploss is close to the execution price it will buy more lots. This way you never risk more than 1,5% of your account balance per trade. Of course we can supply the application with a different risk percentage.

Magic Setup
This script sets up three trading lines which you use to take position with. They are stoploss, tradeline and takeprofit and they are instrument specific.

Magic on a stop 
This script executes pending or limit orders. You place the red line at the stoploss level, the green line on the takeprofit level and the yellow line on the position you want to buy or sell on. Make sure you respect the minimum price difference your broker requires for placing buy on a stop orders. Based on the position of the stoploss vs the takeprofit line, Magic Lines determines if you want a long or short position. Magic Lines exits as soon as your buy or sell order is accepted.

Magic trade now
This script enters a buy or sell order against market price. Stoploss and takeprofit are determined by how you position the stoploss and takeprofit line.

Magic Modify
As soon as your order executes you can run the Magic Modify script to modify stoploss and takeprofit level. This allows you to easily track the price with your stoploss, optimizing your position real time.