Set SL By Loss — set Stop Loss on all open positions by target loss amount
This professional-grade solution for MetaTrader 5 helps traders achieve greater efficiency in their daily workflow. This script functions as a utility program designed for specific, one-time execution tasks. It is utilized to perform targeted actions, such as closing all open orders, managing chart objects, or executing custom administrative commands on demand.
How to Setup and Use Set SL By Loss — set Stop Loss on all open positions by target loss amount
1. Installation: Move your script file into the MQL/Scripts directory and restart the platform.
2. Execution: Drag the script onto a chart; it will perform a one-time action, such as closing all open orders or clearing chart objects.
3. Editing: Use MetaEditor (F4) to modify code, click "Compile," and verify no errors appear in the terminal before running.
4. Removing: Scripts stop automatically, but you can remove them manually by right-clicking the chart and choosing "Remove Script."
Frequently Asked Questions
Q: How are scripts different from EAs? A: Scripts execute a single action and then stop; EAs monitor the market and trade continuously.
Q: Can I assign a hotkey to a script? A: Yes, right-click the script in the Navigator, select "Set Hotkey," and define your preferred keyboard shortcut.
Q: Why did my script stop? A: Scripts are designed to stop immediately after finishing their programmed command; this is normal behavior.
Description & Settings
For each open position, calculates the SL price such that if hit, the loss equals approximately InpTargetLossAmount (in the account's currency).
Validates against stops level and freeze level before submitting modifications.
Skips positions that already have a correct SL (within 1 tick of the target).
Skips positions whose price has moved so far that placing the SL would violate broker constraints, logging the reason.
