Autostop EA for MT4/MT5
Info
The Autostop EA for MT4/MT5 is a Expert Advisor for MetaTrader 4 that autostop is an efficient expert advisor (ea) designed to streamline your trading experience by automatically setting stop levels on open trades. This EA is a valuable tool for traders who manage multiple trades simultaneously.
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 Autostop 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
Autostop is an efficient Expert Advisor (EA) designed to streamline your trading experience by automatically setting stop levels on open trades.
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: Gap Analysis Script for MT4/MT5 - another powerful expert for MetaTrader 4 traders.
Autostop is an efficient Expert Advisor (EA) designed to streamline your trading experience by automatically setting stop levels on open trades.Also recommended: Email Price Quotes from MT4/MT5 - similar expert with strong performance on MetaTrader 4.
This EA is a valuable tool for traders who manage multiple trades simultaneously. It saves time by eliminating the need to manually set stop levels for each trade. Instead, Autostop scans an unlimited number of trades and applies preset stop values to those lacking the specified stop type.
Key Features:
- Automatic Stop Placement: Autostop sets take profit, stop loss, or both on open trades, ensuring your trades are protected with predefined risk management parameters.
- Unlimited Trade Scanning: The EA scans an unlimited number of open trades, making it suitable for high-volume traders.
- Preset Stop Values: Configure preset stop values, allowing the EA to apply consistent stop levels across multiple trades.
- Pending Order Modification: Autostop modifies pending orders once they are executed, ensuring that all trades have the desired stop levels.
With Autostop, you can focus on trade analysis and strategy while the EA takes care of routine stop-level management, enhancing your overall trading efficiency.
You may also like: Automated Order Closure Tool for MT4/MT5 - excellent alternative for expert users on MetaTrader 4.
Source Code
#property copyright "robotfx"
#property link "https://robotfx.org"
extern string product="autostop v2";
extern string aboutautostop="automatically sets take profit and stop loss.";
extern bool monitortakeprofit=true;
extern bool monitorstoploss=true;
extern double takeprofit=30;
extern double stoploss=30;
int start()
{.......
⚠ 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.