Break-Even Master Expert Advisor
Info
The Break-Even Master Expert Advisor is a Expert Advisor for MetaTrader 4 that this expert advisor (ea) is designed to enhance your trading strategy by automatically adjusting the stop loss to break-even once a specified profit level is achieved. Key Features:- Stop Loss Adjustment: The EA moves the stop loss to the entry price or a predefined level once the trade reaches a certain profit, securing your gains.
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 Break-Even Master Expert Advisor
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) is designed to enhance your trading strategy by automatically adjusting the stop loss to break-even once a specified profit level is achieved.
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: master mm droid: advanced deposit protection - another powerful expert for MetaTrader 4 traders.
This Expert Advisor (EA) is designed to enhance your trading strategy by automatically adjusting the stop loss to break-even once a specified profit level is achieved.Also recommended: Automated Break-Even Stop Loss EA for MT4/MT5 - similar expert with strong performance on MetaTrader 4.
Key Features:
- Stop Loss Adjustment: The EA moves the stop loss to the entry price or a predefined level once the trade reaches a certain profit, securing your gains.
- Magic Number and Comment Filter: It includes a filter based on Magic Number and Comment, allowing you to apply the break-even strategy to specific trades or groups of trades.
This EA is a valuable tool for traders who want to protect profits and manage risk effectively.
You may also like: Close Master - excellent alternative for expert users on MetaTrader 4.
Source Code
#property copyright "robotfx"
#property link "https://robotfx.org"
#property description "this code is educational. feel free to use, modify and upgrade as you wish. visit robotfx.org for professional trading tools"
#property strict
input int be = 20; //break-even stop (pips)
input bool uc = false; //use certain order comment
input string comm = ""; //certain order comment
input bool um = false; //use certain order magic number
input int magic = 12345; //certain order magic number
int i;.......
⚠ 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.