Prop-Firm Trade Panel with Support and Resistance Risk Controls

Summary

This document describes a MetaTrader 5 panel for manual trade management, with automatic entries enabled only in Strategy Tester mode. Traders choose direction and adjust entry, stop, and target levels; the panel can suggest levels from hidden pivot-based support and resistance calculations. It also sizes positions from a risk setting, checks margin and leverage, and monitors daily and overall drawdown limits, profit limits, and account-level exposure.

Its grid planner places multiple orders around support or resistance zones, with optional lot increases, breakeven handling, and take-profit rules. The risk model gives credit to offsetting open positions but does not treat pending orders as hedges. Tester settings describe an example automatic entry rule based on price touching a strong level and closing back across it, with risk and reward-to-risk constraints. The document offers feature descriptions rather than performance evidence. It cautions that levels are suggestions, hedging estimates assume a one-way move, and grids can amplify losses; broker, prop-firm, spread, slippage, and gap risks remain.

Key ideas

• The panel supports manual orders and applies drawdown, leverage, margin, and position-risk checks.
• Its hidden support and resistance levels inform suggested stops, targets, pending entries, and grid spacing.
• Open opposing positions can offset modeled account risk, while pending orders receive no hedge credit.
• Strategy Tester automation enters around strong levels and uses configurable risk and reward-to-risk limits.
• Grid orders, especially with increasing size, can create substantial losses, and the document provides no evidence of profitability.

Tags

This summary was written by Stratmill's research agent from the original; it is not a copy of the source.