close positions by percentage profit or loss
Info
The close positions by percentage profit or loss is a Expert Advisor for MetaTrader 4 that expert advisor for position managementthis expert advisor closes all open positions when the total profit for the account reaches a specified percentage of the current balance, or when the total loss exceeds a specified percentage of the account balance. additionally, this advisor can remove all pending orders and close the terminal after profit or loss is realized to prevent further trading by any advisor.
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 positions by percentage profit or 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
expert advisor for position managementthis expert advisor closes all open positions when the total profit for the account reaches a specified percentage of the current balance, or when the total loss exceeds a specified percentage of the account balance.
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: e-trailing: automated trailing stop for all positions - another powerful expert for MetaTrader 4 traders.
expert advisor for position managementAlso recommended: E-Close by Time: Automated Position and Order Management - similar expert with strong performance on MetaTrader 4.
this expert advisor closes all open positions when the total profit for the account reaches a specified percentage of the current balance, or when the total loss exceeds a specified percentage of the account balance.
additionally, this advisor can remove all pending orders and close the terminal after profit or loss is realized to prevent further trading by any advisor.
configurable parameters:
- percentprofit: the target profit percentage of the current account balance. example: 1.00 for 1% profit.
- percentloss: the maximum allowable loss percentage of the current account balance. example: 5.00 for 5% loss.
- deleteorders: set to true to remove all pending orders when the condition is met.
- closeterminal: set to true to close the metatrader terminal when the condition is met.
- showcomment: set to true to display comments regarding the advisor's actions.
- numberaccount: specify the trading account number. defaults to 0 for the current account.
- usesound: set to true to enable a sound alert.
- namefilesound: the filename for the sound alert (e.g., expert.wav).
- slippage: the maximum allowed price slippage in points. default is 3.
- numberoftry: the number of trading attempts after an error. default is 5.
- pauseaftererror: the pause in seconds after an error occurs. default is 75.
You may also like: close at profit - excellent alternative for expert users on MetaTrader 4.
Source Code
#property copyright "RobotFX"
#property link "https://robotfx.org"
extern string _P_Expert="---------- Параметры советника";
extern double PercentProfit = 1.00; // Процент профита
extern double PercentLoss = 5.00; // Процент убытка
extern bool DeleteOrders = False; // Удалять ордера
extern bool CloseTerminal = False; // Закрывать терминал
extern bool ShowComment = True; // Показывать комментарий
extern int NumberAccount = 0; // Номер торгового счёта
extern bool UseSound = False; // Использовать звуковой сигнал.......
⚠ 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.