Local Trade Copier EA 3.5

Metatrader Expert Advisor (MT4/MT5)

  • Overview

    The Local Trade Copier EA is a solution for individual traders or account managers who need to execute trade signals from external sources or who need to manage several accounts at the same time, without the need for a MAM or a PAMM account. It is a simple and reliable tool which copies orders from up to 8 Metatrader terminals to one or more Metatrader terminals.

    • It is 100% self hosted
    • It is very easy to install and use
    • Works exactly as you would expect
    • It can copy from MT4 to MT5 and vice-versa
    • No installer, config files, servers or memory pipes
    • Local and fast execution only limited by the hard-drive r/w rates

    It implements all the features you'll ever need:

    • Up to 8 master accounts and unlimited slave accounts
    • Works with all brokers and DD/NDD/ECN/STP execution
    • Works with accounts with different account currencies
    • Works between live and demo accounts indistinctively
    • Symbol translation inputs for commodities and indexes
    • Supports suffix in symbol names in master and slave accounts
    • The copier won't interfere with other trades in the slave accounts
    • Trade filters by magic number and order comment
    • Optionally copy SL and TP levels
    • Optionally copy pending orders
    • Optionally copy only trades with SL
    • Reverse mode available
    • Partial close supported
    • Flexible trade size:
      - Fixed lot
      - Multiplier
      - Proportional
      - Proportional with multiplier

    The EA can copy trades using the investor or the master password of any account.

    How to copy trades from one master account to one or many slave accounts

    1. Install the Local Trade Copier EA in the source terminal
    2. Load the EA to any chart and select "MASTER" as behavior
    3. Install the Local Trade Copier EA in the receiver terminal or terminals
    4. Load the EA to any chart and select "SLAVE" as behavior

    That's it! Trades will be copied from the master account to the slave account(s).

    How to copy trades from many master accounts to one or more slave accounts

    1. Install the Local Trade Copier EA in all the source and receiver terminals.
    2. Load the EA in all the master accounts and select a different "channel" input for each one.
    3. Load the EA many times in the slave account using different charts. Create as many instances of the EA as you need to read from all the channels created by the master accounts. For instance, if you loaded the EA in four master accounts using channels 1, 2, 3 and 4, then you need to load the EA four times in the slave account, each instance reading from a different channel, from 1 to 4.
    4. You could create more slave accounts by repeating the previous step in other terminals.

    That's it! The slave account(s) will mirror the trading activity of all the master accounts.

    Attention to...

    • Load the EA just once per terminal.
    • Use a different channel parameter for each master account.
    • Do not login to another account when the EA is operating.
    • Do not copy trades from a nfa-fifo account to a non-nfa-fifo account.
    • If you unload the EA from any terminal, all trades will be left unattended.
    • Do not use the investor password in the receiver account, it won't trade.
    • If the receiver account has a suffix in symbol names, for example "EURUSD.fx", you must type ".fx" in the "suffix" parameter.

    Recommended Settings

    The default parameters of the EA will copy trades from master to slave accounts with the most reliability. By default, the EA will not copy pending orders, stop-loss and take-profit levels to avoid missmatches between the trading activity of the master and slave accounts. However, you can adjust this behavior at your own risk using the input parameters of the EA.

    Licensing

    One license allows usage from three different computers or VPS per natural day. The license is silent and checked just once a day, when the EA loads in the master account. You won't notice you are using a licensed expert advisor. On the other hand, if you get the EA from the mql5.com app store, you'll get 1,000 activations, meaning the EA can be installed in a thousand different Metatrader terminals.

  • Input parameters

    When loading the expert to any chart, you will be presented with a set of options as input parameters. Don't despair if you think they are too many, because parameters are grouped into self-explanatory blocks.

    Behavior
    Choose MASTER for source accounts and SLAVE for receiver accounts.
    Channel
    Choose a channel to transmit trades on. From 1 to 8.
    Copy from...
    Choose Metatrader4 or Metatrader5 depending on where you have loaded the Master Instance.
    Lotsize Type
    Choose how to EA sets the lotsizes in the slave account. Options are fixed lotsize, Multiplier, Proportional or Proportional with multiplier. Default and safest option is Proportional.
    Fixed Lotsize
    Trade size for all trades if "fixed lotsize" is chosen in the above parameter.
    Multiplier
    Lotsize multiplier applied to all trades if enabled in the inputs above.
    Reverse Mode
    If enabled, the slave accounts will trade exactly the opposite of the master account. This is particularly useful to copy a really bad trader and profit from its mistakes.
    Copy SL and TP
    If enabled, the slave will copy the stop-loss and take-profit levels for all orders.
    Copy Pending Orders
    If enabled, the slave account will copy pending orders from the master account.
    Slave Symbol Prefix
    If needed, you can type the symbol prefix for all symbols.
    Slave Symbol Suffix
    If needed, you can type the symbol suffix for all symbols.
    Symbol Translation
    Accept different symbol names for identical instruments, separated by commas. Example: "US500=SP500=SPX500,GOLD=XAUUSD"
    Filter by Magic Number
    Only copy trades from the master account with a particular magic number.
    Filter by Comment
    Only copy trades from the master account with a particular order comment.
    Master Symbol Prefix
    If needed, you can type the symbol prefix for all symbols.
    Master Symbol Suffix
    If needed, you can type the symbol suffix for all symbols.
    Magic Number
    Magic number used to trade in the slave account.
    Slippage
    Maximum slippage for the orders in the slave account.
  • ? FAQ
    Trades are not being copied!
    Make sure trading permissions are enabled in the Metatrader Terminal and in the EA settings.
    Can I copy from Metatrader4 to Metatrader5 and viceversa?
    Yes, you can. However, you will need to buy the MT5 version from the app store as well.
    How many slave accounts can I have?
    Unlimited. The limit will be the read/write speeds and concurrency abilities of your hard drive.
    Do I need the master password of the master account?
    No, you don't. You can copy trades if you have the investor password.
    Trades are duplicated in the slave account!
    You probably loaded the Copier twice by mistake in that account and each instance of the EA is receiving and copying. Make sure to load the EA just once per terminal, in a single chart.
    Do I need to change the Magic Number to copy from many master accounts?
    You can for the sake of clarity, but it is not necessary. The EA identifies and cross correlates trades from the master and the slave account using the order comment. Trades copied from different master accounts using different channels will have different order comments and won't interfere with each other.
    What happens if I unload any of the EA instances?
    If you unload the master or slave expert, all trades will be left unmanaged.
    What happens if I unload and reload the master or slave EA?
    Nothing at all. The activity will be resumed where it left. No trades will be closed or reopened.
    Trades from a particular symbol are not being copied
    Make sure the symbol name is the same in both terminals and if not, add an entry to the "Symbol Translation" parameter. For instance, the NASDAQ 100 has many different names in different brokers, so you might need to map them in the aforementioned input with the following entry: "US100=NAS100=USTEC".
    How is the proportional lotsize calculated?
    The EA calculates the proportional lotsize using free margin and margin required per lot of the master and slave accounts. So, if a slave account is copying trades from many master accounts or has other trades that you entered, the exposure won't be risky. The EA trades according to the free margin of the slave account.
    Can I copy trades from several sources to a single slave account?
    Yes, you can. Load the EA into all the master accounts and select a different "channel" parameter for each one. Then load many instances of the Local Trade Copier EA into the slave accounts, each instance reading from a different channel. The amount of slave instances of the EA should match the amount of master accounts you have.
    Do I need to load the EA into several charts in the slave account?
    No, you do not. Loading the EA once in the master account and once in the slave accounts will cause all the trading activity of the account to be copied. However, if you wish to have many master accounts, then you do need to load the EA many times in the slave accounts, reading from different channels.

Screenshots

Local Trade Copier EA EA for Metatrader
Local Trade Copier EA EA for Metatrader
Local Trade Copier EA EA for Metatrader
Local Trade Copier EA EA for Metatrader
Local Trade Copier EA EA for Metatrader
Local Trade Copier EA EA for Metatrader
Local Trade Copier EA EA for Metatrader
Local Trade Copier EA EA for Metatrader