LotSmith | MQLicense.com — User Guide

1. What is LotSmith?

LotSmith is a risk-management Expert Advisor for MetaTrader 5. It does NOT generate trading signals. Instead, it:

• Calculates the exact lot size you should trade based on how much money you're willing to risk.

• Lets you set your stop loss by points, ATR, candle, or a draggable line.

• Shows you a live preview of the trade (lots, risk, R:R, margin) before you click.

• Sends the trade with a single click.

• Provides quick management buttons (Close All, Breakeven, etc.).

Ideal for:

• Manual traders who want consistent 0.5%–2% risk per trade.

• Traders switching between Forex, Gold, Indices, and Crypto — LotSmith handles all instrument types correctly.

• Users of the MQLicense.com risk-management suite (PropGuard, TradeGate, RiskRadar).

2. Installation

Step 1 — Copy files

Place these files in the correct folder:

Step 2 — Compile

1. Open MetaEditor (F4 in MT5).

2. Open LotSmith.mq5.

3. Press F7 (Compile).

4. You should see: 0 errors, 0 warnings.

Step 3 — Attach to a chart

1. In MT5, open any chart (e.g., EURUSD H1).

2. Drag LotSmith from Navigator → Expert Advisors onto the chart.

3. Make sure Algo Trading button is green.

3. First Launch

When you attach LotSmith for the first time, an Inputs dialog appears. The defaults are tuned for a retail trader with a 1% risk mindset:

Click OK. The panel appears in the top-left corner.

4. Panel Overview

text

┌──────────────────────────────────────────────────┐
│  LotSmith | MQLicense.com                    [_] │  ← Title bar (drag to move)
├──────────────────────────────────────────────────┤
│  Risk basis:                                     │
│  Risk: 1.00% Bal                                 │  ← Current risk setting
│  SL: 1.0850                                      │  ← Computed Stop Loss
│  TP: 1.0950                                      │  ← Computed Take Profit
│  Lots: 0.45                                      │  ← ★ Your lot size
│  Risk $: 98.50 (0.99%)                           │  ← Money + % of equity
│  R:R: 2.00                                       │
│  Margin: 197.00                                  │  ← Required margin
│  Spread: 12.5 pts                                │
│                                                  │
│  ┌──────────────┐  ┌──────────────┐             │
│  │     BUY      │  │     SELL     │             │
│  └──────────────┘  └──────────────┘             │
│  ┌────────┐┌────────┐┌────────┐                 │
│  │CloseAll││CloseBuy││CloseSell│                │
│  └────────┘└────────┘└────────┘                 │
│  ┌────────┐┌────────┐┌────────┐                 │
│  │ BE All ││ DelPend││Reverse │                 │
│  └────────┘└────────┘└────────┘                 │
│  ┌────────┐┌────────┐┌────────┐                 │
│  │ Basis  ││SL Mode ││TP Mode │                 │
│  └────────┘└────────┘└────────┘                 │
│  MQLicense.com                                   │  ← Footer
└──────────────────────────────────────────────────┘

Panel elements

Colors:

• 🟩 Green BUY button — long positions

• 🟥 Red SELL button — short positions

• 🟧 Orange warning text — action required

• 🟩 Green warning text — all OK

5. Risk Basis Explained

LotSmith computes lots based on how much money you're willing to lose if the SL is hit.

5 risk bases (click Basis button to cycle)

Example:

• Balance = $10,000, risk = 1% → risk amount = $100

• SL distance = 50 points on EURUSD

• Loss per lot at SL ≈ $50 (5 digits, 1 standard lot)

• → Lots = $100 / $50 = 2.00 lots (before clamping)

Important: LotSmith uses OrderCalcProfit() — the broker's own calculation — so it's accurate for every instrument:

• Forex majors, minors, exotics

• XAUUSD, XAGUSD

• Indices (US30, NAS100, GER40)

• Crypto (BTCUSD, ETHUSD)

• Stocks CFDs

• Non-USD accounts

6. Stop Loss Modes

Click SL Mode to cycle through 4 modes:

Mode 1 — Fixed points

mql5

InpSLMode = SL_FIXED
InpSLPoints = 200   // 200 points below (BUY) or above (SELL) entry

Simple. Consistent.

Mode 2 — ATR-based

mql5

InpSLMode = SL_ATR
InpATRPeriod = 14
InpATRTimeframe = PERIOD_H1
InpATRMult = 1.5

SL = 1.5 × ATR(14, H1). Adapts to volatility. Good for gold and indices.

Mode 3 — Draggable line

mql5

InpSLMode = SL_LINE

A red horizontal line named LotSmith_SL appears on the chart. Drag it to set your SL. The preview updates live (<200 ms).

If the line is deleted, LotSmith falls back with a warning: "SL not defined".

Mode 4 — Candle-based

mql5

InpSLMode = SL_CANDLE
InpCandleCount = 3
InpCandleBuffer = 20   // points

• BUY: SL = lowest low of last 3 closed candles − 20 points

• SELL: SL = highest high of last 3 closed candles + 20 points

Classic swing-trader approach.

7. Take Profit Modes

Click TP Mode to cycle through 4 modes:

Mode 0 — None

No TP is sent. You manage the exit yourself.

Mode 1 — Fixed points

mql5

InpTPMode = TP_FIXED
InpTPPoints = 400

Mode 2 — Risk:Reward (recommended)

mql5

InpTPMode = TP_RR
InpRR = 2.0   // 2:1 reward-to-risk

TP = entry + (2 × |entry − SL|) for a BUY.

This is what most professional traders use.

Mode 3 — Draggable line

A green horizontal line named LotSmith_TP appears. Drag it to set your TP. Preview updates live.

8. Pending Orders Mode

Enable with:

mql5

InpUsePending = true

A gold horizontal line (LotSmith_ENTRY) appears. Drag it where you want to enter.

When you click BUY or SELL, LotSmith auto-selects the correct pending type:

Optional expiration:

mql5

InpExpiryMinutes = 60   // 0 = GTC

9. The Preview Block

Every value in the preview is live — it updates on every tick (throttled to 200 ms) and on every line drag.

Example warnings:

• "Spread too high"

• "Insufficient margin"

• "SL inside stops level or wrong side"

• "Min lot risk exceeds requested"

• "Lots exceed max cap"

• "Max positions reached"

• "Max total risk exceeded"

• "Lots auto-reduced"

10. Safety Limits

All configurable inputs:

Auto-reduce example: You want 2 lots, but free margin only supports 1.2 lots. If InpAutoReduceLots = true, LotSmith sends 1.2 lots and shows "Lots auto-reduced".

11. Quick Action Buttons

CloseAll / CloseBuy / CloseSell

Closes all LotSmith-magic positions on the current symbol, or only BUY / SELL.

• Uses partial-close-safe logic (hedging: per-ticket; netting: opposite deal).

• Shows a confirmation popup if InpConfirmActions = true.

BE All

Moves SL of all LotSmith-magic positions to breakeven (entry price). Offset is currently 0 points. Future versions will let you set an offset.

DelPend

Deletes all pending orders with LotSmith's magic on the current symbol.

Reverse

Reserved for future release. No action at the moment.

Basis / SL Mode / TP Mode

Cycle through the modes at runtime. The panel updates immediately.

12. Keyboard Shortcuts

Enable with:

mql5

InpKeyboard = true

⚠️ Warning: Only enable when you are confident. The keys fire immediately.

13. Suite Integration

If you own other MQLicense.com EAs, LotSmith can honor their trading blocks:

mql5

InpRespectSuite = true

When true, before sending a trade LotSmith checks:

• MQLic_PropGuard_<login>_LOCK — if 1, trade is blocked ("PropGuard LOCK active")

• MQLic_TradeGate_<login>_BLOCK — if 1, trade is blocked ("TradeGate BLOCK active")

The reason is shown in the notification. No data is written — LotSmith only reads.

Order of publishing (recommended):

1. LotSmith (this EA) — works standalone

2. TradeKeeper

3. PropGuard

4. RiskRadar

5. TradeGate

14. Common Scenarios

Scenario 1 — "I want to risk exactly $50 on Gold"

1. Set InpRiskBasis = RISK_MONEY

2. Set InpRiskMoney = 50

3. Set InpSLMode = SL_LINE

4. Drag the SL line where you want

5. Read "Lots" in the panel

6. Click BUY or SELL

Scenario 2 — "I want 1% risk with ATR-based SL on H1"

1. InpRiskBasis = RISK_PERCENT_BALANCE, InpRiskPercent = 1.0

2. InpSLMode = SL_ATR, InpATRTimeframe = PERIOD_H1, InpATRMult = 1.5

3. InpTPMode = TP_RR, InpRR = 2.0

4. Click BUY or SELL

Scenario 3 — "I want a pending Buy Limit 20 points below price"

1. InpUsePending = true

2. Drag the gold entry line 20 points below Ask

3. Click BUY → LotSmith sends Buy Limit automatically

Scenario 4 — "PropGuard locked me — LotSmith shouldn't trade"

• Just leave InpRespectSuite = true

• You'll see: "Blocked by suite: PropGuard LOCK active"

15. Troubleshooting

16. Disclaimer

Trading involves substantial risk. This tool is provided free of charge, as-is, without any warranty. Test on a demo account first. MQLicense.com is not responsible for any losses.

Use at your own risk. LotSmith is a calculator and an order-sender — it does not guarantee profit.