NOTE: MetaQuotes has updated their MQL4 language and our tools won´t work on MT4 Build 600 and greater, nevertheless all our tools offer the same features and advantages as usual. We highly recommend reading this blog post about updating MT4 to Build 600.

4xPartner

Installation

Steps:

  1. Download the Installer.
  2. Copy the Installer to your MetaTrader4 expert’s folder.
  3. Run the Installer and activate your software.
  4. Restart MetaTrader4.

1) After your purchase is completed, you will receive an email containing your download link. After the download finishes, open the folder where the file resides, right click and copy the file.

2) Navigate to: Computer>Local Disk (c:)> Programs Files>Your-Metatrader4 folder>Experts> and Paste the file you copied in step 1.

3) Restart your MetaTrader4, open a new chart, open the Navigator Window
(Press Control + n) and double click the Installer_4xPartner from the list of Expert Advisors.

A window will pop up where you need to set a few options.
On the common Tab make sure you check the Allow DLL imports and make sure Confirm DLL function calls is NOT checked.

Common Tab

A. On the Inputs Tab enter the PayPal Transaction ID, you will find your Transaction ID at the top of your PayPal receipt.

Input Tab

Example of PayPal email receipt.

PayPal receipt

If you have not received your PayPal ID within 8 hours or have any problem activating 4xPartner, please send us a Support Ticket

4) After entering your settings press OK and the installer will run, when the installer finishes close the chart and restart your MetaTrader4 and 4xPartner will be ready to use.

At this point 4xPartner should be successfully installed. If you wish to install 4xPartner in multiple MetaTraders, repeat the installation process for each MetaTrader.


Properties Screen

Contents:

  • Setup
  • Common tab
  • Inputs tab

Setup:

After you finish the installation of 4xPartner, you need to restart MetaTrader before you run it for the first time. You can repeat the process with as many pairs as you like.

Now you are ready to place 4xPartner on the chart. To proceed, open the Navigator window (Press Control + n) > Expert Advisors > double click on 4xPartner or drag and drop it on the chart.

Make sure “Expert Advisors” is enabled.

Open any chart. At this point you can activate the 4xPartner template (This step is optional but recommended). To activate the template Go to Charts, Template and then 4xPartner.

After activating the template double click 4xPartner under the list of experts and go to common tab, make sure Allow DLL imports is checked, Confirm DLL function calls is NOT checked and if you want to use the expert advisor you must allow live trading as well then click OK. If after you save you want to change your settings press F7 to open the settings screen.

Common Tab

Inputs Tab:

Use_Local_Time: If set to true 4xPartner will display the news times using your computer’s local time.

Use_Server_Time: If set to true 4xPartner will display the news times using your Broker’s time.

Use_GMT_Time: If set to true 4xPartner will display the news times using GMT time.

News_on_Indicator: If set to true all the info that is draw on the main chart will now be inside the Indicator window.

Display_High_News: If set to true 4xPartner will display the High impact news on the chart.

Display_Medium_News: If set to true 4xPartner will display the Medium impact news on the chart.

Display_Low_News: if set to true 4xPartner will display the Low impact news on the chart.

UseForexDailyFX: If set to true 4xPartner will use feed from www.DailyFX.com

Note: Only DailyFX offer an actual news value after the news is announced.

UseForexFactoryNews: If set to true 4xPartner will use feed from www.ForexFactory.com/calendar.php

Use_TSD_News: If set to true 4xPartner will use feed from http://calendar.forex-tsd.com

Use_Small_Font_News: If set to false it will use larger fonts to display news items.

FontSize: If false you can change the Font Size by changing the value of NewFontSize= 12.

Show_Old_News: You can choose how many past news are displayed at the top of the news feed.

Alert_Seconds_News: If this input has a value greater than zero, an alert will pop up with a description of the upcoming news and the time until the release occurs. The alert will only pop up if the new release is for the current pair.

Look_Back_Time: This is the number of seconds that the Tick Speed Indicator will use to calculate the value.

Five_Digit_Broker: Change it to true if you Broker uses fractional Pip pricing, make sure you adjust your setting TP, SL, Step , etc to reflect the correct amount.

Expert advisor settings:

>Note: 4xPartner will only manage trades that have no Magic number, if you like to use 4xPartner in conjunction with another expert advisor, make sure the other expert advisor uses a magic number different from 0.

Stop_Loss: 4xPartner will use this value in PIPs to set the Stop_Loss for ALL manually open trades for the current pair. The S/L will not be modified by 4xPartner once you have your trade opened. If you want to change the S/L, just right click on the open trade > Modify or Delete Order then set the S/L value you wish.

>>Note: If your broker uses fractional pips you need to set the Five_Digit_Broker = TRUE for it to work properly. Also 4xPartner can only add a Stop Loss to a trade but it cannot change it, so if you like 4xPartner to manage your initial Stop Loss, when you open a new trade do it without a Stop Loss or Take Profit that way 4xPartner can immediately add this values for you when it detects a new open order.

Take_Profit_1: Set this parameter to the amount of pips you would like 4xPartner to close your position.

Take_Profit_2: Set this parameter to the amount of pips you would like 4xPartner to close your position in case the first goal (Take_Profit_1) is not reached in the period of time you set (TP_2_Time).

TP_2_Time: Set this parameter to the number of minutes you want 4xPartner to activate Take_Profit_2 in case the position does not reach Take_Profit_1.

    Example:

  • TP_1: 120 (pips)
  • TP_2: 30 (pips)
  • TP_2_Time: 75 (minutes)

In this example using the above settings, we will open a long position at 1:00 PM. Therefore, the limit of time to reach the first goal (TP_1) is 2:15PM
If the position does not reach the first goal (TP_1) 120 pips at 2:16 PM 4xPartner will set as a new goal (TP_2) 30 pips.

The objective is to try avoiding the Stop Loss when the target (TP_1) is not reached, giving to the trade a second chance with a lower price target.

If you decide to use only Take_Profit_1 set TP_2_Time at 9999.

Note: Take Profit 1 and 2 will be hidden to your broker, it will not be displayed at the Terminal windows.

Advanced Step Level strategy:

Use_Step: If set to true 4xPartner will use the Advanced Step System during the time you set for.

Safe_Amount: This is the amount in pips that 4xPartner will set your Stop Loss once your position is at or above the amount of pips in the Target parameter.

Target: This is the amount of pips that will trigger 4xPartner to activate the Safe_Amount.

>Note: The Target always has to be a higher value than the Safe_Amount

Example: If Safe_Amount=30 pips and Target=100 pips. When your position reaches 100 pips the stop loss will move so you have 30 pips profit locked in, therefore if the position moves against you will make 30 pips and if moves in your favor it will keep stepping up using the Step_1 and Step_2 values.

STEP_1: When the position reaches two times the value of STEP_1 4xPartner will set the Stop Loss to the value of the open price + Safe_Amount + STEP_1.

Example: If Safe_Amount=30 pips and STEP_1=175 pips. When your positions reaches 350 pips the stop loss will move so you have 205 pips profit locked in (Safe_Amount + STEP_1. ), therefore if the position moves against you will make 205 pips and if moves in your favor it will keep stepping up using Step_2 values.

STEP_2: When the position profit continues to increase and distance in pips between the current Stop Loss value and the current profit reaches two times the value of STEP_2 4xPartner will set the Stop Loss to the current price minus the amount of STEP_2.

Example: If STEP_1=175 pips and STEP_2=150. When your position reaches 505 pips (Safe_Amount + STEP_1 + STEP_2 + STEP_2) the stop loss will move so you have 355 pips profit locked in (CurrentProfit – STEP_2. ), therefore if the position moves against you will make 355 pips and if moves in your favor it will keep stepping up using the same formula.

Max_Minute_Step: Set this parameter to the number of minutes you expect to overpass the Target.
After the set time lapsed, 4xPartner will use the Take_Profit_1 and/or Take_Profit_2 values.

    Example:

  • Safe_Amount= 30 pips
  • Target= 150 pips
  • Max_Minute_Step= 120 minutes
  • Take_Profit_1 = 75 pips
  • Take_Profit_2= 20 pips
  • TP_2_Time: 30 minutes
  • Stop Loss: 350 pips

In this example using the above settings, If our position does not reach the Target (150 pips) after 120 minutes 4xPartner will use the Take_Profit_1 for 30 minutes, if after the 30 minutes the 75 pips mark is not reached 4xPartner will use Take_Profit_2= 20 pips. The position will keep open until getting this last goal or reaching the Stop Loss.

>Note: On multiple manually open positions of the same pair 4xPartner will manage all the positions of the current pair using the same parameters and if you change a parameter after the position opens, 4xPartner will change its behavior with the exception of the Stop Loss, as explained earlier the initial Stop Loss of a position will only be applied if the positions has no Stop Loss.

>Note: The default values are only examples and the user should find the best personal values. We strongly suggest that you start playing with the settings in a demo account and NOT with real money until you are comfortable with the usage of 4xPartner.

Other Features:

ReducePositition_at_Target: If true, the lot size will be reduced when the price reaches the target.

ReducePosition_on_Step1: If true, the lot size will be reduced when the price reaches the Step1.

Usage Example:

You open a position of 1 lot size and want to reduce 0.20 lot size when the price reaches the Target and an additional 0.30 when the price reaches the Step 1. The 0.50 lot remaining will run under the parameters you specify in 4xPartner.

Disable_pop_up: If true, you will avoid the pop-ups that warn you if EA is enabled or disabled.

MAGICMA: This should always be set to 0. Experienced users can experiment using 4xPartner in conjunction with other expert advisor by setting 4xPartner’s Magic number to match the Magic number of the other expert advisor, this is only recommend for experienced users.

Clean_Screen: Set it to false will keep 4xPartner from deleting custom trend lines and indicator.

Update_Friday_Only: If set false 4xPartner will update as soon as the new version is released.

Alternative_GMT_Clock: If 4xPartner does not display the GMT time correctly, set this option to true.This problem is caused by your windows clock had been set with an incorrect GMT offset.

Main Screen

Contents:

  • Clocks
  • Pair information
  • Tick speed
  • News Indicator
  • 4xPartner indicator

Clocks:

On the top left of the screen you have the 3 clocks showing your local time, GMT time and your broker’s time, the clock in blue is the time currently been used for displaying the news events.

Next to the clocks there is an indicator that will change to red during a news event or revert to blue when it passes.

Pair Information:

In the middle, you have some basic information about the current pair, BID/ASK and the current spread updated in real time.

Tick speed:

On the far right is the Tick Speed indicator. It will tell you the average ticks per second arriving to your MetraTrader station on the current pair, the amount of seconds it uses for the calculation can be changed by modifying the value of: Look_Back_Time

News indicator:

Below the clocks is the News Indicator. On the far left is the date the news event occurs. Next to it is the time the event will take place. The news in gray are passed events and colored news are upcoming events, they are color coded Green for Low impact news, Yellow for the Medium and Red for High Impact News.

Following the time is the impact Level, L for Low impact, M for Medium and H for High, there is also a brief description of the news event.

ATC are the actual numbers that will be displayed if available a few minutes after the news event occurred.

Note: If you used the DailyFX news feed, the ATC will turn GREEN if the ATC value is greater than PRE value, blue if they are the same and Red if lower. The greater and lower values do not mean better or worse than expected, they are just a value comparison. You need to do your own analyzes to find out if the news will have a positive or negative effect on the currency pair.

FOR is the forecast number for that event and PRE is the previous number for that event.

ETA when in blue indicates the time until the news events occurs and when gray it indicates the time since the news event occurred.

The open trade indicator will display a line on the chart between the open price and current price of all the manually open trades on the current pair. The line will be green if the position is wining and red if losing, it will be a solid line for all Longs and a dotted line for Shorts.

4xPartner indicator:

>Note: If you have not activated our Template you will need to manually insert the 4xPartner indicator by going to: Insert ->Indicators ->Custom ->_4xPartner, see image below.

On the indicator you will have some basic Broker information, on the left LOT SIZE is the value of 1 lot for your broker, MARGIN REQUIRE is the margin requirement for 1 Lot, Tick Value is how much you will win/lose on 1 pip movement on 1 LOT.

The Swap Long /Swap Short is how much your broker will credit/debit your account at the end of day for any open positions (rollover).

Min. Lot is the minimum lot size your broker will accept for this pair and Max Lot is the maximum lot size allowed by your broker.

Lot Step is the minimum increment in lot sizes your broker allows, and Freeze Level is minimum distance in pips that your broker will allow you to make any changes to a position.

Status: will indicate if you can open or modify orders. OK status indicates you can open or modify orders and a Busy status indicates the terminal is busy or unavailable.

On the middle of the Indicator window you will find all the parameters you have entered for the expert advisor section of 4xPartner.

Below the expert advisor section, you will find the information only for the last manually opened position for this pair including:

Ticket Number

P/L: is the current profit in (in Green) or loss (in red) for this position in pips.

Stop Loss at: is how many pips the position has to move against you to hit the stop loss.

Duration is how long the position has been opened. If you have Advanced Step enabled and if the Target has been reached, you will have a message giving you information on the status of your trade and how many pips you have secured.

To the right of the indicator you will find statistics for all closed trades on the current pair. Trades will be classified under Short, Long and the Total of both. Won and Lost is the number of times a trade for the current pair has closed profitable or unprofitable. P/L $ is the total profit in deposit currency. Aver. $ is the average profit in deposit currency. P/L Pip is the total profit in pips. Aver. Pip is the average profit in pips.

>Note: For a correct display of the statistics it may be necessary for you to open the Terminal window (Crontrol + t), Navigate to the Account history tab, right click and choose All History, see image below.

Tips:

You can optimize your screen area by having only one line of Icons on the toolbar or disabling the ones you don’t use by clicking on View Menu.

Before:

After:

You can also close the Terminal, Market Watch and Navigator windows when not in use.

Before:

After:

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