Ronz SLTP EA V1.3 MT5

The Ronz SLTP EA V1.3 MT5 is an Expert Advisor designed for the MetaTrader 5 platform, focusing on automating the management of trade exits through Stop Loss (SL), Take Profit (TP), Profit Lock, and Trailing Stop mechanisms.

Key Details:

• Platform: MetaTrader 5 (MT5)​

• Timeframes: M1 (1-minute) and M5 (5-minute)​

• Currency Pairs: Compatible with various pairs; however, specific exclusions like XAUUSD (Gold) are noted in the MT4 version. It’s advisable to verify compatibility for MT5.​

• Minimum Deposit: While the MT4 version suggests a minimum deposit of $500, it’s recommended to consult the MT5 version’s documentation or the developer for precise requirements.

 

Trading Strategy:

The EA employs a scalping strategy, aiming to capitalize on minor price movements within short timeframes. It identifies potential entry points based on technical indicators, including price patterns and moving averages. Upon entering a trade, the EA dynamically sets and adjusts SL and TP levels in response to market conditions. As the trade progresses favorably, it locks in profits and utilizes a trailing stop to safeguard gains against sudden market reversals. Notably, the EA does not employ martingale or hedging techniques, focusing instead on precise entry and exit points to achieve consistent results.​

How the EA Manages Trades:

1. Entry Criteria:

   • Analyzes technical indicators to pinpoint optimal entry points.​

   • Evaluates factors such as price patterns and moving averages.

2. Stop Loss and Take Profit:

   • Automatically sets SL and TP levels upon trade initiation.​

   • Dynamically adjusts these levels based on real-time market conditions.​

3. Profit Lock:

   • Secures a portion of the profits when the trade reaches a predetermined level.​

   • Ensures that some profit is retained even if the market reverses.

4. Trailing Stop:

   • Implements a trailing stop that moves in tandem with favorable price movements.​

   • Protects accumulated profits by adjusting the stop level as the market advances.​

Table of Key Features:

For comprehensive guidance on setup and operation, it’s advisable to consult the official documentation or contact the developer directly. Additionally, consider conducting thorough testing in a demo environment before deploying the EA in live trading to ensure it aligns with your trading objectives and risk tolerance.​