Introduction
The AutoCloseOnProfitLoss Skilled Advisor (EA) is a robust automation software for MetaTrader 5, designed to shut all open positions when predefined revenue or loss targets are reached. This EA is ideal for merchants who wish to handle danger and safe earnings with out guide intervention. Whether or not you are a scalper focusing on fast features or a long-term dealer defending capital, this EA provides a dependable, hands-free resolution.
Options
- Automated Place Closing: Mechanically closes all open positions when the entire revenue or loss meets the required threshold.
- Customizable Targets: Set revenue and loss targets in your account foreign money (e.g., USD, EUR).
- Versatile Choices: Independently allow or disable closing based mostly on revenue or loss.
- Person Notifications: Shows alerts and logs within the terminal when positions are closed.
- Environment friendly and Light-weight: Runs repeatedly with minimal CPU utilization, ideally suited for ongoing commerce administration.
How It Works
The EA screens the entire revenue or lack of all open positions utilizing the PositionGetDouble(POSITION_PROFIT) operate in MetaTrader 5. It compares this worth in opposition to the user-defined TargetProfit and MaxLoss thresholds. If both situation is met (and the corresponding function is enabled), the EA closes all positions utilizing market orders and notifies the person by means of alerts (if enabled) and terminal logs.
Set up
- Obtain the AutoCloseOnProfitLoss.ex5 file from the hyperlink on the backside of this web page.
- Open MetaTrader 5 and go to File > Open Knowledge Folder.
- Navigate to MQL5 > Specialists and replica the .mq5 file into this folder.
- Restart MetaTrader 5 or refresh the Navigator panel.
- Find the EA within the Navigator below Skilled Advisors, then drag it onto a chart to activate.
Enter Parameters
- TargetProfit (default: 100.0): The revenue goal in your account foreign money to shut all positions.
- MaxLoss (default: -50.0): The utmost loss in your account foreign money (should be a adverse worth) to shut all positions.
- EnableProfitClose (default: true): Allow or disable closing positions when the goal revenue is reached.
- EnableLossClose (default: true): Allow or disable closing positions when the utmost loss is reached.
- ShowAlerts (default: true): Allow or disable alerts in MetaTrader 5 when positions are closed.
Utilization
- Drag the AutoCloseOnProfitLoss EA onto any chart in MetaTrader 5.
- Within the dialog field that seems, configure the enter parameters:
- Set your required TargetProfit and MaxLoss values.
- Allow or disable revenue/loss closing as wanted.
- Select whether or not to show alerts.
- Click on OK to start out the EA.
- The EA will repeatedly monitor all open positions and shut them if the required situations are met.
- Examine the Specialists or Journal tab in MetaTrader 5 for logs and outcomes.
Instance
Suppose you set TargetProfit = 100.0, MaxLoss = -50.0, EnableProfitClose = true, and EnableLossClose = true. In case your open positions attain a complete revenue of $120, the EA will shut all positions and show an alert: “All positions closed! Purpose: Goal revenue reached: 120.00”. If the entire loss reaches -$60, the EA will shut all positions with an alert: “All positions closed! Purpose: Max loss reached: -60.00”.
Notes
- The EA requires open positions to take motion; in any other case, it’s going to log the present revenue/loss and proceed monitoring.
- Positions are closed utilizing market orders, so slippage could happen relying on market situations.
- Take a look at the EA on a demo account first to make sure it fits your buying and selling technique.
- Not like a script, this EA runs repeatedly till manually stopped or faraway from the chart.
Suggestions
If in case you have recommendations or encounter points, please depart a touch upon the MQL5 CodeBase web page or contact me by means of the MQL5 neighborhood. Your suggestions is efficacious for enhancing this software!
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