Automated Position Closing by Profit/Loss Target
Info
The Automated Position Closing by Profit/Loss Target is a Expert Advisor for MetaTrader 4 that this expert advisor closes all open positions once a predefined total profit or loss target, measured in points, is reached for the account. When calculating the profit for each open position, the advisor considers only the difference between the position's opening price and the current price.
Usage
This tool is typically used for automated trading on major forex pairs and gold.
Platform
This Expert Advisor works exclusively on MetaTrader 4 (both build 600+ and newer versions).
Setup
Place the downloaded file in MQL4/Experts folder via File ? Open Data Folder in MetaTrader 4.
How to Install and Use Automated Position Closing by Profit/Loss Target
1. Installation: Open the "File" menu, select "Open Data Folder," navigate to MQL/Experts, paste your file, and restart the terminal.
2. Activation: Drag the EA from the Navigator onto a chart, ensure "Allow live trading" is checked in the Common tab, and verify the AutoTrading button is green.
3. Optimization: Right-click your chart, choose "Expert List," click "Properties" to adjust inputs, and save your preferred setup as a set file for future use.
4. Maintenance: Regularly check the "Experts" tab in the terminal window to monitor trade logs and potential execution errors.
Frequently Asked Questions
Q: Why is my EA not opening trades? A: Check the "AutoTrading" button, ensure "Allow live trading" is enabled, and verify your broker allows automated trading on your account type.
Q: Can I run multiple EAs on one chart? A: No, each chart can only host one active EA; however, you can open multiple charts for different currency pairs to run several EAs.
Q: What does the "smiley face" icon mean? A: A smiley face in the top-right corner of the chart indicates the EA is successfully running; a frowny face means it is disabled.
What this tool does
This Expert Advisor closes all open positions once a predefined total profit or loss target, measured in points, is reached for the account.
Typical Use Case
This Expert Advisor excels in automated trading and technical analysis on MetaTrader 4.
Compatible Platform & Setup
This Expert Advisor works on MetaTrader 4. Place the file in the MQL4/Experts folder and restart the terminal.
Description & Settings
Related: e-news-lucky$ - automated news trading expert advisor - another powerful expert for MetaTrader 4 traders.
This Expert Advisor closes all open positions once a predefined total profit or loss target, measured in points, is reached for the account.Also recommended: e-moving in wl2: automated stop loss adjustment - similar expert with strong performance on MetaTrader 4.
When calculating the profit for each open position, the advisor considers only the difference between the position's opening price and the current price. Lot sizes do not influence the profit calculation.
The following parameters can be configured within the advisor:
curSymbolOnly - Set to true to operate only on positions of the current symbol.
stopLoss - The total loss level in points for the account.
takeProfit - The total profit level in points for the account.
showComment - Set to true to display comments.
numberAccount - The trading account number. If set to 0, it applies to all accounts.
useSound - Set to false to disable sound alerts.
nameFileSound - The name of the sound file to use if useSound is true.
slippage - The allowed price slippage in points.
numberOfTry - The number of trading attempts to make in case of errors.
This tool was developed to assist traders in managing their risk and securing profits automatically, ensuring that trades are closed according to predetermined strategy parameters. The advisor is designed for use with MetaTrader 4 and MetaTrader 5 platforms, providing a reliable method for exiting trades based on overall account performance rather than individual trade outcomes. Its flexible settings allow for customization to suit various trading strategies and risk management approaches. The update to 2026 ensures relevance for future trading environments.
You may also like: close positions by percentage profit or loss - excellent alternative for expert users on MetaTrader 4.
Source Code
#property copyright "RobotFX"
#property link "https://robotfx.org"
extern string _P_Expert="---------- Параметры советника";
extern bool CurSymbolOnly = True; // Только текущий символ
extern int StopLoss = 40; // Stop
extern int TakeProfit = 60; // Тейк
extern bool ShowComment = True; // Показывать комментарий
extern int NumberAccount = 0; // Номер торгового счёта
extern bool UseSound = False; // Использовать звуковой сигнал
extern string NameFileSound = "expert.wav"; // Наименование звукового файла.......
⚠ Limitations & Risk Warning
- This tool is provided for educational and testing purposes only.
- Past performance does not guarantee future results.
- Trading involves substantial risk of loss. Use on a demo account first.
- Results may vary depending on market conditions, broker, and settings.
- We recommend thorough backtesting and forward testing before using with real funds.