ECHOTRADE PRO: THE ULTIMATE MT4/MT5 TRADE COPIER
EchoTrade Pro: The Ultimate Local MT4/MT5 Trade Copier
Welcome to EchoTrade Pro, a feature-packed, robust, and customizable trade copier designed to enhance your trading experience. Whether you’re managing multiple accounts or automating signal replication, EchoTrade Pro offers unparalleled precision and control to meet your needs. This article provides a comprehensive guide to its features, input settings, and installation process.
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Product Overview
EchoTrade Pro is a local trade copier designed for MetaTrader 4 and MetaTrader 5. It facilitates real-time trade copying between accounts with a focus on flexibility, risk management, and ease of use. EchoTrade Pro is ideal for traders managing master-slave setups, automated strategies, or replicating trades across multiple platforms.
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Detailed Explanations of Input Settings
1. Daily Loss Control
– DayRisk: A descriptive label for the section.
– MaxTradesPerDay: Set the maximum number of trades allowed per day to control overtrading.
– MaxLossesPerDay: Define the maximum number of losing trades permitted daily.
– LossCheckMode: Choose the loss-checking method (Currency or Percent).
– MaximumLossForTheDay: Specify the daily loss threshold. Trades stop once this limit is breached.
– MaximumLossAction: Set the action when the daily loss exceeds the threshold (e.g., Stop or Alert).
– TimerResetTimeDaily: Define the time to reset daily limits (server time).
2. Primary Settings
– CopierMode: Choose between Master or Receiver modes to set the copier’s role.
– MasterAccounts: Provide the list of master accounts to monitor for trade copying.
3. Notifications
– ShowExpertsLog: Enable or disable the visibility of expert logs for detailed trade activity tracking.
– SendNotifications: Turn on push notifications to stay updated on trade actions.
4. Copy Settings
– OpenAndCloseAfterRestart: Decide whether trades should reopen after a restart.
– CopyBuyTrades, CopySellTrades, CopyPendingTrades: Enable copying of specific trade types.
– CopyManuallyClosed: Mirror manual trade closures.
– CopyTradeModification: Copy modifications like changes to Stop Loss (SL) and Take Profit (TP).
– AddPointsToTP & AddPointsToSL: Add extra points to SL or TP to customize risk-reward.
– ReverseTrades: Enable trade inversion for strategies requiring opposite positions.
5. Risk and Stops
– FixedLotSize: Define a fixed lot size for copied trades.
– CopySameLot: Mirror the exact lot size of the master account.
– LotMultiplier: Scale the lot size by a multiplier.
– MaxLotToCopy: Set a maximum allowed lot size for copying.
– MaxLotExceededAction: Specify the action when the lot size exceeds the maximum (e.g., Skip).
– RiskPercent: Define the risk percentage of your account for each trade.
– RejectOrdersWithoutSL & RejectOrdersWithoutTP: Decline trades lacking these critical protections.
– DefaultSL & DefaultTP: Set fallback values for Stop Loss and Take Profit.
– UseTrailingStop: Activate trailing stops and customize parameters like TrailStart, TrailStep, and TrailDistance.
6. Symbols
– ExcludedSymbols: Exclude specific symbols from being copied.
– SymbolsToTrade: Define the symbols you want to trade.
– CustomSymbolMap: Map master symbols to receiver symbols (e.g., GOLD>XAUUSD).
7. Time Settings
– UseTimeFilter: Restrict trading to specific hours.
– StartTime & EndTime: Define the trading window.
8. Trade Verifications
– CheckAlreadyOpened: Avoid duplicating already opened trades.
– CheckMultipleTradeOnSamePair: Limit the number of trades on the same pair.
– ForceMarketExecution: Ensure trades execute immediately with optional pip tolerances.
– MaxOrderRetries: Define the number of retries for failed orders.
– PendingOrderExpiration: Set the lifespan of pending orders in minutes.
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Installation Steps
Step 1: Download the Product
1. Purchase or download EchoTrade Pro from the MQL5 Market.
2. Navigate to your MetaTrader platform.
3. In the Navigator window, locate the Market tab and download the product to your terminal.
Step 2: Attach to a Chart
1. Open any chart in your MetaTrader terminal.
2. Drag and drop EchoTrade Pro onto the chart from the Navigator window under Expert Advisors.
Step 3: Configure Inputs
1. Click on the Inputs tab in the settings window.
2. Customize the parameters based on your trading requirements (refer to the explanations above).
Step 4: Enable Auto Trading
1. Ensure the AutoTrading button on the terminal is enabled.
2. Confirm that your broker allows Expert Advisor usage.
Step 5: Monitor and Optimize
1. Review trade activities in the Experts and Journal tabs.
2. Adjust settings as needed to refine performance.
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Why Choose EchoTrade Pro?
– Flexibility: Fully customizable to suit any trading style.
– Safety: Advanced risk controls and trade validations to protect your account.
– Efficiency: Seamless copying of trades with negligible delay.
– Ease of Use: Simple installation and configuration for all traders.
Experience the power of professional trade copying with EchoTrade Pro. Maximize your trading potential and take your portfolio to the next level. Available now on the MQL5 Market!
