Close at Profit
Info
The Close at Profit is a Expert Advisor for MetaTrader 4 that closeatprofit is an expert advisor (ea) designed to close orders based on predefined profit or loss conditions. It offers flexibility in managing trades across multiple symbols and order types.
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 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.
What this tool does
CloseAtProfit is an Expert Advisor (EA) designed to close orders based on predefined profit or loss conditions.
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: close positions by percentage profit or loss - another powerful expert for MetaTrader 4 traders.
CloseAtProfit is an Expert Advisor (EA) designed to close orders based on predefined profit or loss conditions. It offers flexibility in managing trades across multiple symbols and order types.Also recommended: Automated Position Closing by Profit/Loss Target - similar expert with strong performance on MetaTrader 4.
This EA provides the following features:
- **Profit-based Closure**: Set a profit threshold in account currency. When a trade's profit exceeds this value, the EA will close the trade.
- **Loss-based Closure**: Optionally, enable loss-based closure by setting a loss threshold. Trades with losses exceeding this value will be closed.
- **Symbol-specific or Global Closure**: Choose whether to close trades on the current symbol or across all symbols.
- **Manage Open and Pending Orders**: Decide if you want to close only open trades or include pending orders in the closure process.
- **Slippage Control**: Define the maximum allowed slippage in pips to manage trade execution precision.
- **On-chart Information Display**: Enable or disable the display of open trade information, including lots and profit, on the chart.
The EA's inputs allow for customization:
- **UseProfitToClose**: Enable profit-based trade closure.
- **ProfitToClose**: Set the profit threshold for trade closure.
- **UseLossToClose**: Enable loss-based trade closure.
- **LossToClose**: Define the loss threshold for trade closure.
- **AllSymbols**: Close trades on all symbols or only the current symbol.
- **PendingOrders**: Include pending orders in the closure process.
- **MaxSlippage**: Set the maximum allowed slippage.
- **ShowMenu**: Display trade information on the chart.
- **MenuColor**: Choose the color for the menu text.
- **VariablesColor**: Set the color for variables.
- **Font**: Adjust the font size for on-chart text.
The author has successfully used this EA in live trading to close over 200 trades simultaneously without issues. The closing speed may vary depending on trading conditions, broker, and symbols.
You may also like: E-Close by Time: Automated Position and Order Management - excellent alternative for expert users on MetaTrader 4.
Source Code
#property copyright "robotfx"
extern bool useprofittoclose = true;
extern double profittoclose = 20;
extern bool uselosstoclose = false;
extern double losstoclose = 100;
extern bool allsymbols = true;
extern bool pendingorders = true;
extern double maxslippage = 3;
extern bool showmenu = true;
extern color menucolor = blue; .......
⚠ 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.