What is Open Lock EA?

Open Lock EA is Expert Advisor designed helps reduce the account drawdown, work on Meta Trader 4 platform. EA perform the losing deal is split into multiple small parts, each of these parts is closed separately. When a certain drawdown is reached, EA can disable the other expert and start working with its orders.

Vendor website: https://www.mql5.com/en/market/product/23675

Original price: $299

ForexEAshop price: $19 (You Save 95%)

Key Takeaways

• Open Lock EA is designed to reduce account drawdown by splitting losing deals into smaller parts and closing them separately.
• Expert Advisor uses locking, averaging orders, and partial closure to manage drawdown and cover losses without overloading the deposit.
• Additional market orders can be opened using buttons on the control panel, and it is recommended to use a VPS for optimal performance.

Open Lock EA Setting / Feature

• Used on platform: Meta Trader 4
• Currency Pairs: Any Pairs
• Settings: Default
• Timeframe: M5.
• Minimum balance: 100 $ USD
• Locking to prevent a drawdown increase.
• Averaging orders used to cover the loss.
• Partial closure to reduce the load on deposit.
• Averaging orders are opened with a small lot so as not to load the deposit.
• Profit of these orders is used to partially close the losing position.
• To open additional market orders, you can use buttons on the control panel.

Open Lock EA Review

Open Lock EA Parameters

Language – interface language of the control panel

Magic Number – unique identifier of averaging orders. It must not coincide with the magic numbers of other EAs

Start work – when to start working

• At startup – right after starting
• By drawdown level – after reaching the drawdown level

Drawdown in currency – drawdown value in the deposit currency(it must be specified in case ‘By drawdown level’ is selected)

Stop another advisors – stop the operation of other experts in the terminal (works only when the drawdown level is reached)

• Not use – disable this feature
• Close chart with same symbol (for single currency advisor’s) – close charts of the current symbol. Charts of other symbols will not be closed
• Close all other charts (for multicurrency advisor’s) – close other charts to disable the operation of other experts

Action when the risk limit is reached – actions for critically low level of free margin (action is activated 30 seconds after the drawdown is reached)

Nothing

• Locking all positions and stop
• Сlose all position and stop
• Equity level in currency – equity level, below which the actions from the previous parameter are triggered (if 0, not used)

Equity level in percent – drawdown percentage. If higher than 0, and Action when the risk limit is reached – None, the drawdown value will be displayed on the control panel
Maximal lot in average ord (0-not used) – the maximum lot to be opened by the EA in an averaging order. If 0, the lot size is not limited
Maximal number average ord in one direction (0-not used) – the maximum number of averaging orders in one direction
Maximal step (0-not used) – the maximum step (in pips) that can be set between averaging orders. If 0, the step is not limited. This parameter is only used if the dynamic step is enabled
Settings – how to set the EA parameters

• Use control panel
• Use expert inputs – parameters must be set in the EA inputs.

How to install and run the Open Lock EA Trading Bot in Metatrader 4?

1. Open the Metatrader 4 platform
2. From the top menu, click on “File”
3. Now click on “Open Data Folder”
4. Open the “MQL4” folder
5. Open the “Experts” folder
6. Copy the Open Lock v5.4.ex4 file here
7. Then close and restart the MT4 platform
8. Attach the Expert Advisor to the chart

Now, you are ready to start using the Open Lock EA MT4 v5.4 Without DLL!

If you have any questions regarding EA installation, you can view the information in the Help Center to assist you in installing the EA: Click to view

Open Lock EA Download

Link download Open Lock EA MT4 v5.4 Without DLL will be sent to your email after purchase.

Installation guide (if any) will be sent immediately via email after your purchase, or you can directly download it from the website, under the section: My account -> Download.

+ Expert Advisor Download :

• Open Lock v5.4.ex4
• Unlimited / NoDLL / Build New
• Free 1 Year Updates (If there is a new update, please check in the download on the forexeashop website or you can contact us via Email or Telegram Lucas Jason and provide proof of purchase, we will send you the update)

Shopping Guide and Important Information

We Accept Payment: Cryptocurrency, USDT, Binance Pay, Skrill, Paypal: Click to view

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Memo: Your email + EA name

EA will be send to your email ASAP. The download link will be sent to your email within 5 minutes after the order is confirmed.

Some EAs will need to wait a few hours to up to 12 hours to receive the download link.

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Beginner traders should research and learn about trading before using any EAs.

Please make sure you understand the risks involved with trading and that past performance is no guarantee for future results. (EA could also make losses).

The product does not guarantee profits and demands resilience, patience, and a positive attitude in forex trading.

Before use, please test the EA on a demo account first.

Happy trading!