Open Lock EA MT4 V5.4 with Setfiles

What is Open Lock EA?

Open Lock EA is a professional MT4 risk management system that automatically oversees other Expert Advisors while executing sophisticated loss recovery through systematic averaging and partial closing methodologies. Recent live trading demonstrates consistent 0.0% expert working drawdown with successful position recovery across multiple major currency pairs. Created by seasoned MQL5 developer Sergey Likho, it serves as a comprehensive account-level protection system for automated trading operations.

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About the Open Lock EA’s Author

Sergey Likho, based in Russia, developed Open Lock EA leveraging over 10 years of specialized MQL5 programming experience. His expertise in automated trading systems is demonstrated through the EA’s sophisticated multi-EA management capabilities and complex risk management protocols. User reviews consistently highlight his responsive support and comprehensive video tutorials for proper EA implementation.

Key Takeaway

• Core Functionality: Sophisticated risk management system that activates during account drawdown to systematically handle losing positions through strategic locking, controlled averaging, and disciplined partial closures

• Trading Methodology: Reactive trade management employing averaging down principles – opens strategically positioned orders to improve basket averages, then utilizes partial closing techniques to systematically reduce account exposure and recover losses

• Multi-EA Control: Unique capability to monitor and automatically disable other running Expert Advisors when predefined drawdown thresholds are breached, enabling focused loss recovery operations

• Core Benefits: Eliminates emotional decision-making during loss management phases, provides continuous automated risk supervision, and maintains systematic discipline in drawdown recovery through proven averaging methodologies

• Live Trading Results: Recent sessions demonstrate 0.0% expert working drawdown with successful loss recovery, including Buy positions recovering from -$10.78 losses to +$6.83 profits while maintaining account stability

• Primary Risks: Averaging strategies can exponentially amplify losses during sustained trending markets; requires precise parameter configuration to prevent excessive risk exposure; effectiveness heavily depends on proper setup and mean-reverting market conditions

Recommendations for Open Lock EA

• Trading Platform: MetaTrader 4 (MT4) build 1424+ mandatory for complete functionality

• Pairs: Universal currency pair compatibility with demonstrated optimization on GBP/CAD, GBP/USD, USD/CAD, GBP/AUD, and AUD/CAD pairs

• Supported Accounts: ECN accounts preferred for optimal spread conditions during averaging operations, with Standard account compatibility available

• Timeframe: Universal timeframe support with H1 demonstrating optimized performance based on default agent configurations

• Trading Time: Continuous 24/7 operation capability with optional time filter customization for session-specific trading preferences

• Leverage: Conservative leverage (1:100-1:200) strongly recommended for averaging strategy safety – higher leverage dramatically amplifies both recovery potential and loss exposure risks

• Minimum Deposit: $1,000 absolute minimum required, though $3,000+ highly recommended for adequate risk management given the capital-intensive nature of averaging methodologies

Quick-Start Parameter Guide

Risk Management Parameters:
• Maximal lot in average ord – Critical limit on maximum position size per averaging order to prevent dangerous exposure escalation
• Maximal number averaged ord – Essential constraint on total averaging orders per direction to control risk multiplication
• Equity level in currency/percent – Emergency protection threshold for critical equity preservation

Activation Controls:
• Start work – Choose between immediate startup activation or drawdown-triggered engagement (currency/percentage basis)
• Drawdown in currency/percent – Defines precise activation threshold for EA engagement during losing periods
• Stop another advisors when start work – Critical parameter for managing multiple EA interactions and conflicts

Trade Management Settings:
• Step-by-step locking – Enables systematic position locking to prevent further drawdown escalation
• Simple Trend protect – Essential defense mechanism against sustained adverse market movements (strongly recommended: enabled)
• Remove SL/TP – Allows independent exit management beyond original stop loss/take profit parameters

Critical Warning: Improper Maximal lot configuration or unlimited averaging settings can trigger margin calls during trending market conditions.

Open Lock EA Review

Open Lock EA delivers advanced risk management for multi-EA accounts through systematic averaging strategies, requiring careful parameter optimization to prevent loss amplification in trending markets. Live performance consistently shows effective drawdown control with 0.0% expert working drawdown across multiple currency pairs. Best suited for experienced traders managing automated portfolios who understand grid-based recovery principles and can configure risk parameters effectively.

Live Trading Evidence: Recent sessions demonstrate successful loss recovery with Buy positions recovering from -$10.78 to +$6.83 profits while maintaining stable 0.0% overall drawdown metrics across multiple currency pairs.

User Feedback: Reviews consistently highlight “Very profitable EA” with “great support,” though users note “outdated documentation” requiring video tutorial guidance for proper configuration and optimization.

Why Choose Open Lock EA

• Exclusive Multi-EA Oversight: Only available EA that automatically disables other Expert Advisors during drawdown events, providing comprehensive account-wide risk management – requires thorough understanding of system interactions and potential strategy conflicts

• Systematic Recovery Framework: Implements disciplined averaging and partial closing methodologies instead of emotional manual interventions – effectiveness depends on proper parameter configuration and market conditions favoring mean reversion over sustained trending

• Verified Live Performance: Demonstrates consistent 0.0% working drawdown in recent live trading across major pairs with successful position recovery – historical performance doesn’t guarantee future results, particularly during extended trending conditions

• Complete Risk Architecture: Features comprehensive equity protection, position locking, and graduated risk controls for total account safety – requires initial learning investment and proper configuration to avoid parameter-related risks

• Professional Developer Support: Backed by experienced MQL5 programmer with ongoing assistance and detailed video tutorials – documentation limitations require reliance on video guidance for optimal setup and configuration

Conclusion

Open Lock EA provides sophisticated risk management for automated trading portfolios, with verified live performance demonstrating effective drawdown control through systematic averaging methodologies. Ideal for experienced traders managing multiple EAs who understand grid-based recovery risks and can properly configure parameters, while requiring extreme caution from beginners due to potential significant loss amplification during sustained trending market conditions.

Ready to Use Open Lock EA MT4?

• Telegram Support: https://t.me/+E2r7ipeuS6BjNzFl
• Email Contact: [email protected]
• Website: eafxway.com

Open Lock EA MT4 Download Packages:

• Link download experts:
  • Open Lock EA MT4.ex4
• Presets

FAQs