Order Management Expert Advisor
Info
The Order Management Expert Advisor is a Expert Advisor for MetaTrader 4 that this expert advisor (ea) manages trading orders based on a percentage of the user-defined stop-loss or take-profit levels. When a floating profit reaches the specified level, the EA will close the trade.
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 Order Management Expert Advisor
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
This Expert Advisor (EA) manages trading orders based on a percentage of the user-defined stop-loss or take-profit levels.
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: Quantora Trade Manager MT4: Advanced Position Management for MetaTrader 4 - another powerful expert for MetaTrader 4 traders.
This Expert Advisor (EA) manages trading orders based on a percentage of the user-defined stop-loss or take-profit levels.Also recommended: simple trailing position management library - similar expert with strong performance on MetaTrader 4.
When a floating profit reaches the specified level, the EA will close the trade. This tool is designed to assist with money management.
Input Parameters
manageallsymbol : Set to true to manage all symbols on your account, or false to manage only the symbol attached to the current chart.
usestoploss : Set to true to enable stop-loss management using a percentage, or false to disable it.
stoplosspercent : The percentage of the account balance at which to trigger the stop-loss. For example, 0.02 means the EA will close the trade if the loss reaches 2% of the account balance. Adjust this based on your personal money management strategy.
usetakeprofit : Set to true to enable take-profit management using a percentage, or false to disable it.
takeprofitpercent: The percentage of the account balance at which to trigger the take-profit. For example, 0.06 means the EA will close the trade if the profit reaches 6% of the account balance. Adjust this based on your personal money management strategy.
We hope this tool is helpful for your trading. Wishing you profitable trades in 2026.
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"
#property link "https://robotfx.org"
#property version "1.00"
#property strict
extern bool manageallsymbol = false;
extern bool usestoploss = true;
extern double stoplosspercent = 0.02;
extern bool usetakeprofit = true;
extern double takeprofitpercent = 0.06;
int oninit().......
⚠ 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.