Risk Reward based trade management

1
Hi all,

I want to experiment with automated risk reward management. I've already got a calculator which is useful, from this website, with the needed settings for the size aspect of the trade.

Which EA or Script or Indicator would you recommend to automate:

Set reward level (versus risk) for target 1 + Set Amount (%) to Close to nearest 0.01 lots
Set reward level (versus risk) for target 2 + Set Amount (%) to Close to nearest 0.01 lots
Set reward level (versus risk) for target 3 + Set Amount (%) to Close to nearest 0.01 lots
Set reward level (versus risk) for target 4 + Set Amount (%) to Close to nearest 0.01 lots
Set reward level (versus risk) for target 5 + Set Amount (%) to Close to nearest 0.01 lots

The % should be the % of the originally traded number of lots, so all of them add to 1 (or 100).

If anyone has anything to hand, that would be great. If it can be combined with the lot calculator, even better!

Attached is the lot calculator I am using, with the settings to get rid of not needed information.

Code: Select all

//Place into .set file in MQL4/Presets
Version_150
Corner=1
Offset_X=1
Offset_Y=21
All_Other_Objects_To_Background=true
Days_For_ATR=14
Show_Symbol_and_Timeframe=true
Show_Price_and_Spread=false
Show_Time_and_Tick=false
Show_Risk_Calculator=true
Show_Fractal_Trend=false
Show_Average_Hi_Lo=false
Show_Today_Hi_Lo=false
Show_Hi_Lo_to_Spread=false
Show_Current_Bar_Hi_Lo=false
Show_Previous_Bar_Hi_Lo=false
Show_Tickvalue=false
Show_Ticksize=false
Show_Stoplevel=true
Show_Swap=false
______STYLE______=<<<< Color and Style Settings >>>>
Background_Color=2631720
Text_Color=14474460
Text_Label_Color=7895160
Text_Title_Color=15132390
Active_Button_Background_Color=13158600
Active_Button_Border_Color=16777215
Active_Button_Text_Color=1973790
Inactive_Button_Background_Color=7895160
Inactive_Button_Border_Color=16777215
Inactive_Button_Text_Color=1973790
Field_Background_Color=5263440
Field_Border_Color=6579300
Field_Text_Color=16777215
Up_Color=32768
Middle_Color=65535
Down_Color=255




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