Automated Position Closing EA for MT4/MT5
Info
The Automated Position Closing EA for MT4/MT5 is a Expert Advisor for MetaTrader 4 that this expert advisor (ea) monitors your open trading positions and closes them automatically when predefined conditions are met. You can filter the positions to be closed based on several criteria:Magic NumberTrade Side: Short or LongProfit/Loss ResultTime Open: Duration the position has been heldThis EA can also function as a tool for implementing hidden stop-loss and take-profit levels.
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 EA for MT4/MT5
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 (EA) monitors your open trading positions and closes them automatically when predefined conditions are met.
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: Quantora Trade Manager MT4: Advanced Position Management for MetaTrader 4 - another powerful expert for MetaTrader 4 traders.
This Expert Advisor (EA) monitors your open trading positions and closes them automatically when predefined conditions are met. You can filter the positions to be closed based on several criteria:Also recommended: Quantora Position Size Calculator MT4 - similar expert with strong performance on MetaTrader 4.
Magic Number
Trade Side: Short or Long
Profit/Loss Result
Time Open: Duration the position has been held
This EA can also function as a tool for implementing hidden stop-loss and take-profit levels.
Recommendations:
Important: The EA will only close positions if your MetaTrader platform is actively connected to the trading server.
To close positions at a specific time, ensure the correct GMT offset is configured. For instance, if your local timezone is GMT +5:30, set gmt_offset_hours to 5 and gmt_offset_minutes to 30.
This tool is designed for use with MetaTrader 4 and MetaTrader 5 platforms and is compatible with versions up to 2026.
You may also like: e-news-lucky$ - automated news trading expert advisor - excellent alternative for expert users on MetaTrader 4.
Source Code
#property copyright "robotfx"
#property link "https://robotfx.org"
extern string visit="www.think-trust-trade.com";
extern string like="www.facebook.com/thinktrusttrade";
extern string side="-----select-side-------";
extern bool long=true;
extern bool short=true;
extern string limits="----set-profit-and/or-loss-limits----";
extern bool profit_limit=true;
extern int pip_limit_profit=100;.......
⚠ 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.