AlienTrader Pro: User Guide part 2

4.3 Margin Call Protection

This feature helps protect your account from margin calls by automatically adjusting positions before they cause issues.

• Minimum Margin Level to maintain (%):
  Set the lowest margin level (e.g., 110%) that you want to maintain. If your margin level falls below this threshold, the feature will take action.
• Reduce Position Size by (X)%:
  AlienTrader Pro will reduce your position sizes incrementally by the percentage you define until your margin level stabilizes above the minimum threshold.

Why it’s important:

A margin call occurs when your account no longer has enough funds to support your open trades, often leading your broker to forcibly close positions. This feature helps you avoid such situations by proactively reducing risk, keeping your account secure, and giving you more control over your trades.

4.4 Stop-Loss Settings

Stop-Loss Calculation Method:

AlienTrader Pro provides flexible Stop-Loss (SL) placement options to match different trading strategies. Each method can be used with or without an initial SL, giving you the freedom to adapt to your trading style.

• At Cursor Price:
  Places the SL directly at the cursor’s price, allowing precise manual placement.
• In Point-Distance:
  Sets the SL at a fixed distance (in points) from the entry price, offering consistent risk management.
• At Previous HH/LL:
  Positions the SL at the most recent Higher High (for Sell trades) or Lower Low (for Buy trades). This method leverages key market structure levels for better trade protection.
• In ATR Distance:
  Calculates the SL as a multiple of the Average True Range (ATR), adapting dynamically to market volatility. This approach is ideal for strategies in volatile conditions.
• Micro-Entry:
  Dynamically adjusts the SL distance for tighter entry setups, making it ideal for scalping—a trading style focused on capturing small price movements through quick trades. More details about this method are provided below.

• If your available margin is insufficient to open a position with the lot size calculated using your chosen method, AlienTrader Pro automatically reduces the lot size incrementally until the trade is accepted.

• This adjustment ensures that the trade can still be executed without interruptions while staying within your available margin.

• AlienTrader Pro calculates the lot size based on your selected method (e.g., percentage of equity) and keeps this lot size fixed.

• The SL distance starts at your defined increment value (e.g., 5 points).

• If the initial SL distance is too tight to meet margin requirements, AlienTrader Pro increases the SL distance step by step (e.g., 5 → 10 → 15 points, using the same increment).

• This process continues until a valid SL distance is found, allowing the trade to open while maintaining the predefined lot size and risk percentage.

Additional Settings:

Add Spread Distance to Stop-Loss:

• When enabled, this option adds the current spread to your calculated Stop-Loss (SL) distance.
• This adjustment ensures precise SL placement by accounting for the bid-ask spread, reflecting real market conditions.
• The adjusted SL distance is also factored into the position size calculation, maintaining accurate risk management.

Point Distance (Used for Pending Orders Too!):

• This setting defines a fixed SL distance (in points) for the In Point-Distance method.
• When the Stop-Loss calculation method is set to “Cursor price” or “SL at HH/LL”, this value serves as a fallback for determining the SL distance, as the cursor price is already used for the entry price of the pending order.
• If another Stop-Loss calculation method is selected, the SL price will be calculated based on the chosen method instead.

Candle Lookback Period (for SL at HH/LL):

• Specify the number of candles to analyze when determining the most recent Higher High (HH) or Lower Low (LL) for SL placement.
• A longer lookback period provides broader market context, while a shorter period focuses on more recent price action.

Minimum Stop-Loss Distance (for SL at HH/LL):

• Define a minimum SL distance when using the Higher High/Lower Low (HH/LL) method.
• This ensures your stops are not too tight, helping to avoid premature exits caused by minor market fluctuations.

Add (X) Extra Points Offset to HH/LL:

• Add a safety buffer (in points) to your Stop-Loss placement beyond the identified High or Low.
• This additional offset provides extra protection against price spikes around key levels.

ATR Period:

• Specify the number of bars to analyze when calculating the Average True Range (ATR) for volatility-based SL placement.
• A shorter period reacts to recent volatility, while a longer period smooths out fluctuations.

ATR Multiplier:

• Multiply the calculated ATR value by this factor to determine the SL distance for ATR-based methods.
• Higher multipliers set wider stops to account for greater price movements, while lower values result in tighter stops.

Point Incrementation Step (for Micro-Entry Mode):

• This setting adjusts the Stop-Loss (SL) distance incrementally before opening a position, ensuring the trade can be executed within your available margin.
• If the initial SL distance is too tight, AlienTrader Pro increases it in steps (e.g., 5 → 10 → 15 points) until a valid SL is found.
• Once the trade is opened, the SL distance is not adjusted further.
• This ensures the tightest possible SL distance is used while maintaining the risk percentage you defined.

Special Note for Pending Orders

• For pending orders, certain SL methods—such as At Cursor Price and At Previous HH/LL—cannot be calculated directly.
• In these cases, AlienTrader Pro automatically applies the Point-Distance method to determine the SL distance.
• This ensures the Stop-Loss is correctly set, even when using cursor-based or High/Low-based methods for pending orders.

4.5 Auto Break-Even

The Auto Break-Even feature in AlienTrader Pro automatically adjusts your Stop-Loss (SL) to protect your position once it moves into profit, helping to reduce risk.

Key Settings:

Example:

If you set the BE adjustment to 50 points and the SL to +5 points beyond BE, the following will occur:

• When the trade moves 50 points into profit, AlienTrader Pro adjusts the SL to your entry price +5 points, securing a small profit and protecting your position.

4.6 Trailing Stop-Loss Settings

The Trailing Stop-Loss feature adjusts your Stop-Loss (SL) dynamically as the price moves in your favor. This helps protect your profits while allowing trades to grow.

Trailing Stop-Loss Methods:

• Fixed Point-Distance Trailing:
  The SL remains a fixed distance from the current price, ensuring consistent risk management.

• ATR-Based Trailing:
  The SL adapts dynamically based on market volatility, using the Average True Range (ATR).

• Heiken-Ashi-Based Trailing:
  SL adjusts based on Heiken-Ashi candle calculations, which smooth out price action for trend following.

• Higher Highs/Lower Lows (HH/LL) Trailing:
  SL follows the most recent highs or lows for precise adjustments based on market structure.

Parameters for Customization:

• Point Distance:
  Set the fixed distance (in points) for the Point-Distance trailing method (e.g., 50 points).
• ATR Period:
  Define the number of bars used to calculate ATR for volatility-based SL adjustments.
• ATR Multiplier:
  Multiply the ATR value by this factor to widen or tighten the SL dynamically.
• Heiken-Ashi Timeframe:
  Choose the timeframe used for Heiken-Ashi trailing (e.g., 1-hour, 4-hour).
• Candle Lookback Period:
  Specify the number of candles to analyze for both Heiken-Ashi and HH/LL trailing methods.

Example:
For ATR-Based Trailing, if you set:

• ATR Period to 14 bars
• ATR Multiplier to 2.0

The SL will adjust to twice the ATR value, dynamically adapting to changing market conditions.

4.7 Take-Profit Settings & Partial Profit Taking

Take-Profit Methods:

AlienTrader Pro provides two flexible methods for calculating your Take-Profit (TP) level:

• Point Distance:
  Set the TP at a fixed distance (in points) from your entry price, offering a straightforward target.

• Risk-Reward Ratio:
  Define the TP as a multiple of your initial risk (e.g., 3.0 for a 1:3 Risk/Reward ratio), aligning your profit target with your risk management strategy.

Parameters:

• Take-Profit Point Distance:
  Specify the exact distance (in points) for TP when using the Point Distance method.

• Take-Profit at (1:X) Risk/Reward Multiple:
  Set a target ratio for TP relative to your initial risk. For example, a 3.0 setting aims for a profit three times your risk.

• Adjust Sell Take-Profit to Trigger at Bid Price?
  Enable this to adjust the TP for Sell trades, ensuring it triggers precisely when the Bid price reaches the target.
  This is important because Sell orders execute at the Bid price, and adjustments prevent missed targets due to the Bid/Ask price difference.

Partial Take-Profit & Advanced Line Features

Pro Tip:

• If “Move Stop-Loss to Break-Even on Line Trigger” is enabled and “Partial Take-Profit %” is set to 0%, the Partial Take-Profit Line acts as a custom Break-Even level.
• When triggered, it moves the SL to Break-Even without closing any part of the position.
• This adds flexibility to your trade management, enabling you to automatically secure risk-free setups while keeping your full position open.

4.8 Display Settings (Theme, Resolution, Labels, Colors)

AlienTrader Pro offers a customizable interface to suit your trading preferences and optimize your visual experience.

Themes and Screen Resolution

Theme Options:

• Dark Mode: Ideal for low-light environments, reducing eye strain during nighttime trading.
• Light Mode: Best for bright settings, providing clear visuals in well-lit spaces.

Screen Resolution Compatibility:

• High (4K): For ultra-high-definition displays (e.g., 3840×2160).
• Medium: For standard desktops (e.g., 2560×1600).
• Low: For smaller screens or laptops (e.g., 1920×1080).

Detached Charts (MT5 Only)

Enhance your workflow with detachable charts, perfect for multi-screen setups:

• Enable the “Detach Chart” option to move charts freely across monitors.
• This feature is ideal for multi-timeframe analysis or organizing your trading workspace efficiently.

Additional Display Options

Synchronize Symbol Changes Across Charts:

• Automatically update symbols on all charts running AlienTrader Pro for the same instrument.
• This feature streamlines analysis by keeping all views aligned when switching symbols.

Display Top-Left Time Information:

• Local Time: Displays your local clock time.
• Spread: Shows the current spread for the instrument.
• Countdown to Next Candle Close: Helps track when the current candle will close.

Trade Label Information:

• None: No labels are displayed.
• Risk-Reward Ratio (RR): Shows the trade’s current RR.
• Point Distance: Displays the distance (in points) between the entry, SL, or TP.
• Monetary Value: Shows trade-related values in your account currency.
• Combined Options: Combine multiple details, such as RR and point distances.

Pro Tip: For consistent visuals, ensure the same label information type is selected across all charts for the same symbol. Mismatched settings may create discrepancies between labels.

Indicator Fixed/Dynamic Value Separator:
Add a vertical line at the previous candle to clearly separate:

• Historical Values (left): Data that remains static.
• Reprinting Values (right): Dynamic data that updates with live price action.

This feature is especially useful for smoothed indicators, helping to clarify where reprinting begins.

Custom Colors for Visual Elements:
Adjust the colors and styles of key chart elements to enhance visibility and match your trading preferences. Personalizing these settings can improve your chart readability and overall user experience.

4.9 Audio, Notifications & Trading Rules Reminder

Stay informed and maintain trading discipline with AlienTrader Pro’s customizable audio alerts and notifications.

Audio Alerts on Trade Closure

Mobile App Notifications