Currency Strength Trade Panel EA MT4/5 Panel Installation & User Guide

✔️ Currency Strength Trade Panel EA MT4©: https://www.mql5.com/en/market/product/74366

✔️ Currency Strength Trade Panel  EA MT5©: https://www.mql5.com/en/market/product/74367

✔️ Currency Strength Indicator for MT4©: https://www.mql5.com/en/market/product/74444

✔️ Currency Strength Indicator for MT5©: https://www.mql5.com/en/market/product/74454

Currency Strength Trade Panel EA MT4 is an innovative solution for any beginner or expert trader! It takes the currency strength concept to a whole new level, since it combines it with price action and can be applied on any symbol/pair, apart from the usual 28 combinations of the 8 major currencies. That means that you can trade the strength or weakness of any pair, including all currencies, commodities and cryptos (not indexes). It is a real breakthrough product that gives you a clear insight of 16/32 symbols with one glimpse, by using colored bars that inform you visually about the strength/weakness balance of the 2 parts of any pair, without the need to decipher complicated strength lines or histograms, as in other traditional currency strength solutions.
Currency Strength Panel EA MT4 is also the most straightforward and easy to use trade panel you can find for MT4. It has all its options and functions in one surface, without the need of opening additional windows or panels. It is an order management, risk calculator, partial closure and account protector utility all in one extremely convenient to use interface! By using Currency Strength Panel EA MT4 you can trade many times faster and more accurate than traditional manual trading methods and that gives you more time and a clearer mind to concentrate on your trading decisions. Currency Strength Panel EA MT4 is also a great account protection utility, that can close all open trades, delete all pending orders and close all terminal charts with any EAs attached on them, after account take profit or stop loss equity has been reached. 

Notice: You can’t test Currency Strength Trade Panel EA MT4 in the MT4 tester because it is a trade management utility.

In order to buy Currency Strength Trade Panel EA MT4/5 from MQL5.com Market you need to have a MQL5 community account. If you don’t have one, you can register here: https://www.mql5.com/en/auth_register

1. First make sure that you have the necessary funds required for your purchase in your MQL5 account, it’s always easier to pay with your MQL5 balance, than using a credit card during the buying procedure. 

2. Find Currency Strength Trade Panel EA MT4/5 in the MQL5.com website and open its product page. 

3. Click the Buy or Rent button to continue with your purchase.



4. Choose the payment method and click the green Next button to continue with your payment.



5. After your payment is completed, you will need to open your MT4/5 terminal in order to download and install your Currency Strength Trade Panel EA MT4/5

6. When you open your MT4/5 terminal, you must make sure that you are logged into your MQL5 account with your MQL5 account login and NOT with your email, Facebook or any other. For example my login is the last part of my profile url, in my case: eleanna74, the last part of: https://www.mql5.com/en/users/eleanna74

7. So, open the MT4/5 >> Tools >> Options >> Community tab and make sure you are logged in with your MQL5 account login.



8. Then go down in the Terminal window and click the Market tab (in the bottom right side of the Toolbox window in MT5). On the left side of the Market tab (upper side on the Market window in MT5), click the Purchased option and then click the blue Install button on the right side of the product you’ve just purchased.


9. After you’ve finished setting up your notification details, you may want to trade with your Currency Strength Trade Panel EA MT4/5. So, open any chart of any symbol at any timeframe and then from the left side of your MT4/5 terminal, in the Navigator window, find your purchased Expert Advisor from within the Market options and drag it onto the chart (or double click it).


13. The Expert Advisor’s inputs/settings window will open. In the MT4 terminal you click the Allow live trading option and the Allow modification of Signals settings on the Common tab and click OK. In the MT5 terminal you tick the Allow modification of Signals settings and the Allow Algo Trading options and click OK.



14. Then you go onto the Inputs tab and adjust the Expert Advisor’s settings according to your requirements. After you’ve finished adjusting your settings, click the OK button.
A detailed description of all Currency Strength Trade Panel EA MT4/5 inputs/settings follows below in this article.


15. After you’ve closed the Expert Advisor’s window, you will see that there is a sad face (or a red sign in MT5) on the top right of your chart. That means that your EA does not trade yet. You need to click the Auto (Algo) Trading button and instantly the sad face will smile (the red sign will turn green in MT5). Now your Currency Strength Trade Panel EA MT4/5 is working.
Tip: If the candles on your chart are coming on top of your Currency Strength Trade Panel EA MT4/5, right click on your chart >> Properties >> Common tab >> Chart on foreground >> untick.

16. The Strength/Weakness colors you see on each pair/symbol on the Currency Strength Trade Panel MT4/5, reflect a certain percentage of strength or weakness of the one currency/part of the symbol over the other. These strength/weakness levels are explained in the diagram below.

1. Closes the entire Currency Strength Trade Panel EA MT4/5 panel and remove the EA from the chart.
2. Minimizes the Currency Strength Trade Panel EA MT4/5 panel.
3. The symbol/instrument the Currency Strength Trade Panel EA MT4/5 panel is trading on.
4. Currency Strength Trade Panel EA MT4/5 on panel name.
5. 1-16 or 17-32: Selection of the pairs/symbols that will be visible on the panel. These pairs/symbols are customizable in the EA’s inside settings and must be enabled in MT4/5 >> View >> Symbols. Also have in mind that in order for the strength/weakness readings/levels to be accurate, all available symbols that include the currencies involved must be enabled in MT4/5 >> View >> Symbols, especially the Major and Minor symbols.

6. Risk as % of account balance. When it is selected, the desired percentage in the field on the right will be the percentage of account’s balance that will be risked in every trade. This is calculated only when a Stop Loss in Points value has been added below, otherwise a risk calculation cannot be performed. For example if you put 2 in this field, every trade that will opened afterwards it will lose 2% of your account’s balance when the stop loss level is reached. When this option is ticked on the left, the other 2 lot size/risk options are disabled.
7. Risk in account’s currency money. When it is selected, the desired amount in the field on the right will be the amount in account’s currency that will be risked in every trade. This is calculated only when a Stop Loss in Points value has been added below, otherwise a risk calculation cannot be performed. For example if you put 100 in this field and your account’s currency is USD, every trade that will opened afterwards it will lose $100 of your account’s balance when the stop loss level is reached. When this option is ticked on the left, the other 2 lot size/risk options are disabled.
8. Fixed lot size. When it is selected, the desired number in the field on the right will be the fixed lot size of every new trade. For example if you put 0.14 in this field, every trade that will opened afterwards it will have a 0.14 lot size. When this option is ticked on the left, the other 2 lot size/risk options are disabled.
9. The stop loss level in points for every new opened/placed market/pending trade/order. 1 pips is 10 points, so for example the difference between 1.15600 and 1.15650 is 50 points. For example if your sell trade’s opening price is 1.15600 and you want your stop loss level to be 1.15650 you should put 50 in the Stop Loss in Points field. If you want your trades to have a virtual/hidden stop loss level, in order this level not to be visible to your broker and the market, you should put the Virtual/Hidden TP/SL option in the inside Currency Strength Trade Panel EA MT4/5 settings to true (see detailed explanation in the EA’s inside inputs/settings guide below).
10. The take profit level in points for every new opened/placed market/pending trade/order. 1 pips is 10 points, so for example the difference between 1.15600 and 1.15650 is 50 points. For example if your buy trade’s opening price is 1.15600 and you want your take profit level to be 1.15650 you should put 50 in the Take Profit in Points field. If you want your trades to have a virtual/hidden stop take profit, in order this level not to be visible to your broker and the market, you should put the Virtual/Hidden TP/SL option in the inside Currency Strength Trade Panel EA MT4/5 settings to true (see detailed explanation in the EA’s inside inputs/settings guide below).
11. The break even level in points for every new opened/placed market/pending trade/order. 1 pips is 10 points, so for example the difference between 1.15600 and 1.15650 is 50 points. For example if you put 50 in this field and your buy trade’s opening price is 1.15600, the EA will move the stop loss level to break even, when the price reaches a 50 points profit, at 1.15650. If you want your trades to have a virtual/hidden break even level, in order the moved stop loss level not to be visible to your broker and the market, you should put the Virtual/Hidden TP/SL option in the inside Currency Strength Trade Panel EA MT4/5 settings to true (see detailed explanation in the EA’s inside inputs/settings guide below).
12. The trailing start level in points for every new opened/placed market/pending trade/order. 1 pips is 10 points, so for example the difference between 1.15600 and 1.15650 is 50 points. For example if you put 50 in this field and your buy trade’s opening price is 1.15600, the EA will start trailing the stop loss level when the price reaches a 50 points profit, at 1.15650. If you want your trades to have a virtual/hidden trailing start level, in order the stop loss level not to be visible to your broker and the market, you should put the Virtual/Hidden TP/SL option in the inside Currency Strength Trade Panel EA MT4/5 settings to true (see detailed explanation in the EA’s inside inputs/settings guide below).
13. The trailing stop level in points for every new opened/placed market/pending trade/order. 1 pips is 10 points, so for example the difference between 1.15600 and 1.15650 is 50 points. For example if you put 50 in this field and your buy trade’s opening price is 1.15600, when the price reaches a 50 points profit, at 1.15650 (trailing start level) the EA will move the stop loss level 50 points back, at 1.15600. If you want your trades to have a virtual/hidden trailing stop level, in order the stop loss level not to be visible to your broker and the market, you should put the Virtual/Hidden TP/SL option in the inside Currency Strength Trade Panel EA MT4/5 settings to true (see detailed explanation in the EA’s inside inputs/settings guide below).
14. The trailing step level in points for every new opened/placed market/pending trade/order. 1 pips is 10 points, so for example the difference between 1.15600 and 1.15650 is 50 points. For example if you put 10 in this field the EA will move the trailing stop loss level in steps of 10 points, for example if the initial trailing stop loss was placed at 1.15600, the next level will be 1.15610, then 1.15620 and so on. If you want your trades to have a virtual/hidden trailing step level, in order the stop loss level not to be visible to your broker and the market, you should put the Virtual/Hidden TP/SL option in the inside Currency Strength Trade Panel EA MT4/5 settings to true (see detailed explanation in the EA’s inside inputs/settings guide below).

15. Trade comment field. You can put in the trade comment field on the right, the comment that your future orders/trades will have. This can be changed for every new order/trade individually before its placement/opening.
16. Sell by market button. By clicking this button you can place a sell trade at the current market price for the symbol/instrument the EA is trading onto. This symbol is visible on the top of the panel (see number 3 above).
17. OCO – one cancels the other – pending orders option. When it is ticked, all the pending orders that will be placed on the same symbol/instrument will be cancelled/deleted if/when one of them is triggered/opened.
18. Sell Stop button. By clicking this button you can place a Sell Stop pending order for the symbol/instrument the EA is trading onto, at a price below the current market price, you must put in the Pending Order Price field (see number 32).
19. Sell Limit button. By clicking this button you can place a Sell Limit pending order for the symbol/instrument the EA is trading onto, at a price above the current market price, you must put in the Pending Order Price field (see number 32).

20. Close All Pending Sell button. By clicking this button the EA will delete/remove all Pending Sell orders. These could be the Sell Pending orders opened by the EA on that chart only, all the Sell Pending order opened by the EA on all symbols/charts or all the Sell Pending orders that are present on the trading account from all sources, according to your preference of the inside EA settings: Manage All Symbols Trades=true/false and Manage All Account Trades=true/false (see detailed explanation in the EA’s inside inputs/settings guide below).
21. Close All Open Sell button. By clicking this button the EA will close all open/running Sell trades. These could be the open/running Sell trades opened by the EA on that chart only, all the open/running Sell trades opened by the EA on all symbols/charts or all the open/running Sell trades that are present on the trading account from all sources, according to your preference of the inside EA settings: Manage All Symbols Trades=true/false and Manage All Account Trades=true/false (see detailed explanation in the EA’s inside inputs/settings guide below).
22. Close All in Loss button. By clicking this button the EA will close all open/running trades that are in floating loss. These could be the open/running trades that are in floating loss opened by the EA on that chart only, all the open/running trades that are in floating loss opened by the EA on all symbols/charts or all the open/running trades that are in floating loss that are present on the trading account from all sources, according to your preference of the inside EA settings: Manage All Symbols Trades=true/false and Manage All Account Trades=true/false (see detailed explanation in the EA’s inside inputs/settings guide below).
23. Panel Symbol button. When any one of the 16 customizable (from the inside EA settings) is clicked, the symbol/chart the EA is trading onto will be changed. If for example the Currency Strength Trade Panel EA MT4/5 is trading on EURUSD chart and you click the GBPUSD button, the chart will change instantly to GBPUSD and you can place/open orders/trades on that symbol/instrument.
24. Close Partially button. By clicking this button the EA will close the percentage part that you’ve put in the Partial Closure % field above (see number 24) of the lot size of open/running trades. These could be the open/running trades opened by the EA on that chart only, all the open/running trades opened by the EA on all symbols/charts or all the open/running trades that are present on the trading account from all sources, according to your preference of the inside EA settings: Manage All Symbols Trades=true/false and Manage All Account Trades=true/false (see detailed explanation in the EA’s inside inputs/settings guide below).
25. Close All Open Trades button. By clicking this button the EA will close all open/running trades. These could be the open/running trades opened by the EA on that chart only, all the open/running trades opened by the EA on all symbols/charts or all the open/running trades that are present on the trading account from all sources, according to your preference of the inside EA settings: Manage All Symbols Trades=true/false and Manage All Account Trades=true/false (see detailed explanation in the EA’s inside inputs/settings guide below).
26. Partial Closure Ticket number field. Here you can put the ticket number of the open/running trade you want to close Partially, using the Close Partially button (23). This could be an open/running trade opened by the EA on that chart only, an open/running trade opened by the EA on another symbol/chart or an open/running trade that is present on the trading account from another source, according to your preference of the inside EA settings: Manage All Symbols Trades=true/false and Manage All Account Trades=true/false (see detailed explanation in the EA’s inside inputs/settings guide below).
27. Partial Closure Percentage % number field. Here you can put the lot size percentage % that you want to Close Partially, using the Close Partially button (23). For example if you put 10 here and the Ticket number field below is empty, the Close Partially button will close partially by 10% all the open/running trades opened by the EA on that chart only, an open/running trade opened by the EA on another symbol/chart or an open/running trade that is present on the trading account from another source, according to your preference of the inside EA settings: Manage All Symbols Trades=true/false and Manage All Account Trades=true/false (see detailed explanation in the EA’s inside inputs/settings guide below). If you put 10 in this field and you have typed a Partial Closure Ticket number below also, the EA will close partially by 10% only the specific trade with the trade ticket you’ve put. All partial close percentages % are rounded down and not up, that means that if you close partially by 33% a 0.03 trade, nothing will happen, but if you put a 34% partial closure percentage, 0.01 will be closed, leaving a 0.02 running.
28. Close All in Profit button. By clicking this button the EA will close all open/running trades that are in floating profit. These could be the open/running trades that are in floating loss opened by the EA on that chart only, all the open/running trades that are in floating loss opened by the EA on all symbols/charts or all the open/running trades that are in floating loss that are present on the trading account from all sources, according to your preference of the inside EA settings: Manage All Symbols Trades=true/false and Manage All Account Trades=true/false (see detailed explanation in the EA’s inside inputs/settings guide below).
29. Close All Open Buy button. By clicking this button the EA will close all open/running Buy trades. These could be the open/running Sell trades opened by the EA on that chart only, all the open/running Sell trades opened by the EA on all symbols/charts or all the open/running Sell trades that are present on the trading account from all sources, according to your preference of the inside EA settings: Manage All Symbols Trades=true/false and Manage All Account Trades=true/false (see detailed explanation in the EA’s inside inputs/settings guide below).
30. Close All Pending Buy button. By clicking this button the EA will delete/remove all Pending Buy orders. These could be the Sell Pending orders opened by the EA on that chart only, all the Sell Pending order opened by the EA on all symbols/charts or all the Sell Pending orders that are present on the trading account from all sources, according to your preference of the inside EA settings: Manage All Symbols Trades=true/false and Manage All Account Trades=true/false (see detailed explanation in the EA’s inside inputs/settings guide below).
31. Buy Limit button. By clicking this button you can place a Buy Limit pending order for the symbol/instrument the EA is trading onto, at a price below the current market price, you must put in the Pending Order Price field (see number 32).
32. Buy Stop button. By clicking this button you can place a Buy Stop pending order for the symbol/instrument the EA is trading onto, at a price above the current market price, you must put in the Pending Order Price field (see number 32).
33. Pending Order Price field. Here you put the desired price level for your pending orders in order to place them.
34. Buy by market button. By clicking this button you can place a buy trade at the current market price for the symbol/instrument the EA is trading onto. This symbol is visible on the top of the panel (see number 3 above).
35. Current symbol’s spread monitor. Here you can monitor the live spread (difference between bid/ask price) of the symbol/instrument the EA is trading onto. This symbol is visible on the top of the panel (see number 3 above).

The MT5 version of Currency Strength Trade Panel EA, has 2 extra pending order buttons, as the MT5 platform, offers 2 additional pending order options, the Sell Stop Limit and the Buy Stop Limit orders.
36. Sell Stop Limit button. By clicking this button you can place a Sell Stop Limit pending order for the symbol/instrument the EA is trading onto. A Sell Stop Limit pending order is a Sell Stop order in order to place a Sell Limit order, that means that you will need to put 2 prices for this order to be placed. First you need to put the Stop level below the current market price in the left field (37) next to Pending Price label and then the Sell Limit level, higher than the Stop level you’ve put earlier, in the Stop Limit price field (38) on the right.
37. Buy Stop Limit button. By clicking this button you can place a Buy Stop Limit pending order for the symbol/instrument the EA is attached onto. A Buy Stop Limit pending order is a Buy Stop order in order to place a Buy Limit order, that means that you will need to put 2 prices for this order to be placed. First you need to put the Stop level above the current market price in the left field (37) next to Pending Price label and then the Buy Limit level, lower than the Stop level you’ve put earlier, in the Stop Limit price field (38) on the right.

38. Stop level field for Sell Stop Limit and Buy Stop Limit pending orders.
39. Stop Limit price field for Sell Stop Limit and Buy Stop Limit pending orders.

You can study the  Sell Stop Limit and Buy Stop Limit pending orders in the image below and read more about them here.


Read more: MT5 Pending Orders Explained


For any questions or issues with the installation and/or the use of the  Currency Strength Trade Panel EA MT4/5, please don’t hesitate to contact me: https://www.mql5.com/en/users/eleanna74

✔️ Currency Strength Trade Panel EA MT4©: https://www.mql5.com/en/market/product/74366

✔️ Currency Strength Trade Panel  EA MT5©: https://www.mql5.com/en/market/product/74367

✔️ Currency Strength Indicator for MT4©: https://www.mql5.com/en/market/product/74444

✔️ Currency Strength Indicator for MT5©: https://www.mql5.com/en/market/product/74454

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