Simple Panel EA is an automated trading system that applies one-click trading options and is available for the MT4 platform. The EA is available on the MQL marketplace and can be downloaded for free.
In this article, we’ll look at the Simple Panel EA, how it works, its strategy, features, and settings.
Simple Panel EA Strategy
The Simple Panel EA allows for easy one-click trading in the forex market. It can be used on any forex pair and on all timeframes.
The EA features three buttons for buying, selling, and closing all positions on the current symbol. In addition, the panel also includes options for setting stop-loss, take-profit, lot size, and trailing stop values.
The BUY/SELL buttons are used for taking positions according to the predetermined settings.
The Close All button lets you close all open positions on the current forex pair quickly. This can be helpful when managing multiple positions.
The Simple Panel EA allows you to enter stop loss and take profit values before opening a trade. This feature can help minimize risk based on individual trading strategies.
The EA also includes an Info button that displays statistics on your trading performance.
When you click the Info button, the panel will display various trading statistics, such as the total number of trades executed, the total profit or loss, and the percentage of winning trades.
The panel also displays the current account balance and equity, any open orders, and their respective status.
You must specify a magic number in the panel settings for the EA. This will ensure the EA can identify and manage its orders effectively without interfering with other open trades.
The Simple Panel EA can be used on both ECN and non-ECN accounts. However, using the ECN account when using the EA is recommended.
Simple Panel EA Features
- The EA works on all forex pairs on all timeframes.
- It displays a panel consisting of BUY, SELL, Close all, and Info buttons along with stop-loss, take-profit, and trailing stop.
- Simple Panel is available for the MT4 platform.
- It is recommended to use the EA on the ECN accounts.
Simple Panel EA Settings
- Slippage – It shows the maximum slippage in pips
- Show stoploss on chart – It shows the stop-loss option on the chart.
- Show takeprofit on chart – It shows the stop-loss option on the chart.
- Magic number – If MagicNumber=0, the EA will close all orders on the current symbol.
- Use make screen shorts – It takes screenshots when opening and closing orders.
- Show history info – It displays trading statistics.
Simple Panel EA Summary
The Simple Panel EA displays a panel for one-click trading. The panel includes BUY, SELL, Close all, and Info buttons and options for setting stop-loss, take-profit, lot size, and trailing stop values.
It can be applied to any forex pair and works on all timeframes. It’s important to note that the expert advisor may not work on standard accounts. So, an ECN account is required to use the Simple Panel.
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