Close at Profit
This software component for MetaTrader 4 is built to enhance the capabilities of your trading environment. This Expert Advisor serves as automated trading software. It is utilized to monitor financial markets and execute trades based on predefined algorithmic rules, enabling precise position management without the need for constant manual oversight.
How to Setup and Use Close at Profit
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.
Description & Settings
CloseAtProfit is an EA that I use only to close orders after defined profit, or loss, you can define if to close only trades on current symbol or to close all orders on all symbols, to close only opened trades or also delete pending orders.
I am using it in live trading. I have closed with it more than 200 trades at once, without any problem. The speed of closing depends on time when it trades, on broker you are using and symbols you are trading.
INPUTS:
useProfitToClose = true; - if it is true the EA will close trades when the profit is greater than defined profit to close;
profitToClose = 20; - the defined profit in account currency, when close trades;
useLossToClose =false; - if it is true the EA will close trades when the loss is greater than defined loss to close;
lossToClose =100; - the defined loss in account currency, when close trades;
AllSymbols =true; - if it is true the EA closes trades on all symbols, if false- only on current symbol where EA is attached;
PendingOrders =true; - if it is true the EA closes also pending orders, on all symbols or current symbol depends on AllSymbols setting;
MaxSlippage = 3; - maximal allowed slippage in pip;
showMenu = true; - if true, EA shows on graph information about open trades, lots and profit;
menuColor = Yellow; - color of menu text;
variablesColor = Red; - color of variables;
font = 10; - font size;
