Close Orders by Profit/Loss
Info
The Close Orders by Profit/Loss is a Expert Advisor for MetaTrader 4 that close@profit expert advisor close@profit is an expert advisor that closes orders based on a defined profit or loss target. You can configure the EA to close trades only on the current symbol or all symbols.
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 Orders by Profit/Loss
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
Close@Profit Expert Advisor Close@Profit is an Expert Advisor that closes orders based on a defined profit or loss target.
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.
Close@Profit Expert AdvisorClose@Profit is an Expert Advisor that closes orders based on a defined profit or loss target.
Also recommended: E-Close by Time: Automated Position and Order Management - similar expert with strong performance on MetaTrader 4.
You can configure the EA to close trades only on the current symbol or all symbols. You can also choose to close only opened trades or to close and delete pending orders.
This EA is based on the 'Close at Profit' concept, incorporating commissions, swaps, and an updated user interface.
Input Variables
useprofittoclose = true; - Enable closing trades when profit exceeds the defined target.
profittoclose = 100; - The profit target in account currency to trigger trade closure.
uselosstoclose = false; - Enable closing trades when loss exceeds the defined target.
losstoclose = 100; - The loss target in account currency to trigger trade closure.
allsymbols = true; - If true, the EA closes trades on all symbols. If false, it closes trades only on the symbol where the EA is attached.
pendingorders = true; - If true, the EA also closes pending orders on all symbols or the current symbol, depending on the 'allsymbols' setting.
maxslippage = 3; - The maximum allowed slippage in pips.
legendcolor = white; - The color of the label text.
variablescolor = gold; - The color of the variable text.
fontsize = 8; - The font size of the displayed text.
You may also like: bad orders expert advisor for metatrader - excellent alternative for expert users on MetaTrader 4.
Source Code
#property copyright "robotfx"
#property link "https://robotfx.org"
#property version "1.00"
#property strict
extern bool useprofittoclose = true;
extern double profittoclose = 100;
extern bool uselosstoclose = false;
extern double losstoclose = 100;
extern bool allsymbols = true;
extern bool pendingorders = true;.......
⚠ 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.