FA Trading Panel is the new software for MetaTrader 4 and MetaTrader 5 that allows the user to open positions and / or insert pendent orders easily thanks to a convenient graphical interface. Technically it is an EA designed to respond to commands that are given by the user through a simple control panel.
The panel has been designed to be easy to use and in such a way as to minimize the space occupied on the chart, leaving the view on the candles free.
This panel also has the feature of not being fixed on the graph, but you can move it within the graph (by clicking on the title bar and dragging it), or minimizing it by clicking on the triangle in the right side of title bar and make the occupied area even smaller.
As we can see from the following images, FA Trading Panel has a title bar and a menu at the top, and a status bar at the bottom (that shows the current date and time).
In the central part we have both the controls that allow the opening of orders and positions, as well as information on the current spread. To minimize occupied area, the controls were organized on multiple tabs. Analyze them.
2. Market Tab
The first card is called Market. It highlights the current spread, updated 2 times per second, with the Ask and Bid quotes (respectively above and below). The spread will be in red color when it exceeds a threshold value that you can set by parameter. It can also be expressed in Points or Pips and the choice will always be made via parameter.
Below we find the lots, the number of pips for the takeprofit and the number of pips for the stoploss, to use when we open a position. Intuitively, clicking on the buy button will open a (buy) market position with lots, TP and SL set in the text box, and vice versa by clicking the Sell button.
Lot, takeprofit, and stoploss values can be changed either by typing in the text box or by clicking on their buttons. The 0 value for TP (and / or SL) indicate to open a position without TP (and / or SL). We know that when we set a value for SL and / or TP, this must be greater than a minimum, otherwise the position will not open. This minimum value is different from instrument to instrument and, for the same instrument, changes over time (by broker). The software performs periodic checks, and if the value we are entered is less than the minimum distance of the time, it will be shown in red color for indicate that you will neet to increase it.
3. Pendent Tab
By clicking on the Pendent tab we go to the section that allows us to open pending orders. Here we find the lots, stoploss and takeprofit fields similar to the one described above, plus an additional field that allows us to enter the distance (in pips), compared to the current price, for the open price of pending order.
On this field we can enter both positive and negative values based on whether we want to open above the current price, or below the current price. This value must respect a minimum distance too and the software do some periodic check and chenge the color in red when the condition is not satisfied.
Another interesting feature is that. If we enter a positive value and therefore we want to open above the current price, only the BuyStop and SellLimit buttons will be enabled. Conversely, if we put a negative value and then we want to open under the current price, only the BuyLimit and SellStop buttons will be enabled.
As we can see, the trading panel is easy to use and it is very functional. It occupies little space, which can be further reduced by clicking the minimize button. Leaving it open we will have information on the current spread and the ability to act promptly. Comfort is even more appreciated when working with multiple tools and you have different windows side by side. In this case, you can hook up the panel on each chart and conveniently open the positions. In addition you see up-to-date information on the current spread of each open chart.
If we minimize the interfaces virtually disappear from the graph.