This tool is very helpful when trading and increasing the profits by placing certain trades (defined in the settings) with equal distances when you place Buy / Sell orders. It helps in securing the account by using the layering method.
Once the price hits the first TP, the EA will move the SL to the entry level, then once the price hits the 2nd TP, the EA will move the price to the first TP level. All the TP and SL generated by the EA can be manually adjusted on the chart itself.
It works on any chart but must be loaded on each chart / symbol to operate. You can place trades from the mobile app and the EA will take place the trades and SL as well as moving the SL automatically.
Inputs are in Pips not points and the screenshot posted here is for BTCUSD, otherwise, the pips are normal between 20 to 50 pips for currency pairs.
Ensure the magic number is unique for each symbol / chart.
If you set the number of TP Layers to 4, this means the Utility will add 3 more trades with the lot size of 0.10 as defined in the settings.
A trader wants to place 1 trade with 0.50 lot size, so normally, he opens 1 trade with 1 TP and SL. Instead, he can use this utility to open 5 trades with 5 SL and 5 TP levels with 0.1 lot size each. All SL will be in the same level, but the TP will be layering in different levels for increasing the profit and managing the risk.