Close Symbol with Profit or Loss
Info
The Close Symbol with Profit or Loss is a Expert Advisor for MetaTrader 4 that a simple expert advisor (ea) designed for closing positions of a specific symbol based on profit or loss thresholds. Parameters:- tpforsymbol: Set a profit target for the symbol.
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 Symbol with 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
A simple Expert Advisor (EA) designed for closing positions of a specific symbol based on profit or loss thresholds.
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.
A simple Expert Advisor (EA) designed for closing positions of a specific symbol based on profit or loss thresholds.Also recommended: E-Close by Time: Automated Position and Order Management - similar expert with strong performance on MetaTrader 4.
Parameters:
- tpforsymbol: Set a profit target for the symbol. When the total profit reaches this value, all positions for the symbol will be closed. Consider swap and commission costs that may reduce your actual profit.
- slforsymbol: Set a stop-loss level for the symbol. If the total loss reaches this value, all positions for the symbol will be closed. Swap and commission costs can increase your losses. Ensure slforsymbol is a negative or zero value.
You may also like: Wipeout - Close All Orders on Profit Target - excellent alternative for expert users on MetaTrader 4.
Source Code
#property copyright "robotfx"
#property link "https://robotfx.org"
#property version "2.0"
#property strict
extern double tpforsymbol = 113;
extern double slforsymbol = 100000000;
int oninit()
{
slforsymbol=(-1)*mathabs(slforsymbol);
return(init_succeeded);.......
⚠ 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.