The Light Orders Copier is an expert advisor that can be found in the Utilities section of the MQL5 marketplace. There are many copiers out there, so we have provided a link to ensure you know exactly which one we are looking at. The Light Order Copier was originally released by its creator back on the 6th of April 2016, it has received a number of updates, the most recent being the 4th of February 2020 and it is currently on version 1.82.
The Light Order Copier is a utility and expert advisor designed to be used with the MetaTrader 4 trading platform, its main purpose is to copy trades while adjusting the trade sizes and direction on the same account.
This is particularly useful if you are receiving a signal that uses a certain trade size, the expert advisor will allow you to follow that signal but with higher or lower lot sizes.
The examples are given:
The original lot size is 0.01. We need to increase it 10 times.
Solution: Set Lot multiplier to 9. In this case, EA will copy trade and the new lot size will be 0.01×9=0.09.
Total lot size will be 0.01 + 0.09 = 0.10 lots.
The original lot size is 0.1. We need to decrease result lot till 0.02
Solution: Set CopyMode = REVERSE and Fixed lot size 0.08.
Total lot size will be Buy 0.1 + Sell 0.08 = Buy 0.02 lots.
There is a wide range of settings available for the expert advisor including the copy mode, trading operations, signal definitions, magic numbers, order comments, lot size managing, SL and TP modes, defined SL, defined TP, max slippage, max drop price, max spread, and more.
The expert advisor will cost you $30 to purchase outright giving you unlimited usage, you are also able to rent it in monthly installments, this will cost you $20 per month. There is also a free version available. However, there doesn’t seem to be any information detailing what the limitations of the free version are, but it normally involves a limited number of trades or compatible currency pairs.
There are a total of 23 (at the time of writing) review available for the Light Order Copier, the overall rating given by these reviews is 5 out of 5 stars which his an extremely positive score. Sometime sonly having 5-star reviews can look a bit suspicious, but the reviews seem to reflect usage and seem genuine.
“Excellent product and support. Confirmed with the author before purchasing that it works with MT4 VPS as well as third-party VPS. It’s working perfectly on MT4 VPS for me and allowing me to scale a signal’s volumes up. I thought this was done by MT4 automatically, but this allows me to make the correction and add further boost as desired. Thanks Mikhail!” – A 5-star review.
“I use this EA for a few months and it works pretty much good. I also instruct the author for a job and he has done a very good and fast job :):)” – A 5-star review.
“Very solid, no problems so far. I use to multiply lots on calm and it works a treat. Also Mikhail’s support was very good to explain to me the basics. I would definitely use his services again. Cheers, Will.” – A 5-star review.
Even though the reviews are positive and it seems to do what it is supposed to, we would recommend that you download and try out the free version,m this was you will be able to make sure that it has the functions that you need and that you are able to get it up and running successfully.
This Forex Indicator is currently available in the MQL5 marketplace: https://www.mql5.com/en/market/product/15480